Business Uk Business

Brexit date: When Will Brexit Happen? How Likely is a NO DEAL Brexit for Britain?

Written by admin

BREXIT day is fast approaching now, with the Government scrambling to negotiate a deal and the Prime Minister trying to rally her party to get behind her. So when will Brexit happen, and how likely is no deal?

In her speech to the Conservative party conference on Wednesday, Theresa May called for party unity over Brexit.

Mrs May said: “We need to come together. We are entering the toughest phase of the negotiations.

“If we stick together and hold our nerve I know we can get a deal that delivers for Britain.”

And on Sunday, Brexit Secretary Dominic Raab took a hard line on negotiators on the EU side, saying they need to “get real” to reach a deal with the UK.

When will Brexit happen?

The Prime Minister triggered Article 50 of the Lisbon Treaty – which gives the two sides two years to agree the terms of the split – on March 29, 2017.

This means the UK is scheduled to leave at 11pm GMT on Friday March 29, 2019.

At the time of writing, that is exactly 177 days, six hours and 47 minutes away.

This deadline can be extended, but only if all 28 EU member states agree.

After this date, there is a transition period which Mrs May has negotiated, which will run from March 29, 2019, to December 31, 2020.

This period is to allow time for the Government, lawmakers, businesses and the general public to prepare for the moment when the new post-Brexit rules begin.

Freedom of movement will continue during the transition period and the UK can begin negotiating its own trade deals to take effect from 2021.

But the transition period will only take place if the UK and EU agree on a Brexit deal.

Brexit date: Dominic Raab at the Tory party conference (Image: Getty)

How likely is a no deal scenario?

With the Prime Minister’s Chequers plan for Brexit receiving widespread condemnation in the UK and EU, speculation is rife that the UK could end up leaving without a deal.

A wide range of documents setting out the probable state of play if the UK leaves the EU without a deal has been recently published by the Government.

The UK and EU both hope for a deal, as it would serve both interests, so there is speculation a deal could be pulled out of the bag at the last minute.

What happens if no deal is agreed?

The next crunch talks will happen in November, in a one-off EU summit.

If an agreement is reached, that is meant to allow enough time for the UK and EU to ratify the deal before the March 29 deadline.

If not, then there’s no deal. Then the Government will have four options:

1. Do nothing. We leave without a deal.

2. Delay departure, seeking an extension of Article 50

3. Put it to a vote, holding another public referendum

4. Try to have another last-ditch attempt at negotiating.


About the author


Leave a Comment