The two year countdown to the UK’s exit from the EU has now begun.
Prime Minister Theresa May today formally notified the European Council President of the United Kingdom’s intention to leave the European Union by invoking Article 50 of the EU Treaty. Notification means that formal exit negotiations between the UK and the EU can start. The talks will invariably be technical, difficult, prolonged and ultimately intensely political; businesses will need to closely follow the negotiations to assess their potential impact.
The nature and scale of the impact on business is unprecedented and the process could affect jobs, growth and investment across every sector and every market.
To help you navigate Brexit we prepared this handy guide to what happens next and the key issues at play.
Ten Steps To Brexit
Theresa May invokes Article 50 of EU Treaty (29 March)
European Council President Donald Tusk releases draft negotiating guidelines (29-31 March)
UK Government publishes Great Repeal Bill (April)
European Council summit adopts collective negotiating guidelines (29 April)
Commission proposes and Council agrees detailed negotiating mandate (TBC May/June)
Ongoing negotiations between European Commission and the UK (2017/2018)
Final agreement reached (by Oct/Nov 2018)
European Parliament and UK Parliament give final consent to Brexit agreement (2019)
EU Council agrees final Brexit agreement by qualified majority (2019)
EU Treaties cease to apply to the UK/UK Great Repeal Bill enters into force (2019)
Five Brexit Questions
People: what rights will existing EU citizens have in the UK and vice versa?
Money: what are the UK’s financial liabilities to the EU?
Transition: will business be given time to adapt to the new UK/EU relationship?
Borders: how will Brexit impact the UK’s land borders with the EU (Ireland and Gibraltar)?