The House of Commons Library has published a briefing paper on the legal, constitutional and financial unknowns in relation to the mechanics, legal effects and policy consequences of Brexit.
The briefing note states that the biggest ‘unknown’ is what the withdrawal agreement and any other agreements linked to Brexit will contain. This is important as most policy questions will depend on the outcome and agreement(s) reached following exit negotiations.
The legal and constitutional unknowns include: how long the Brexit process will take, the role of Parliament in triggering Article 50 and scrutinising negotiations, whether Article 50 notification can be withdrawn and whether there will be a referendum on the terms of Brexit. There is disagreement among lawyers regarding some of these issues, such as whether an Article 50 notification can be withdrawn once issued. However, the briefing paper mentions that political considerations will likely influence such issues.
In addition, the paper considers the economic effects of Brexit, such as when the UK will stop contributing to the EU budget, what will happen to the UK’s structure fund and agricultural funding. The answers to these questions will largely depend on the outcome of exit negotiations.
The full briefing paper can be found here.