The EU Withdrawal Agreement provides for the UK to continue to be treated as an EU member state for almost all purposes until the end of the implementation period on 31 December 2020. As a result, the practical impact of “exit day” for most businesses will be minimal. The real implications of Brexit will not become apparent until the end of the implementation period on 31 December.
The parties’ intentions for their future relationship are ambitious. With the Government insistent that it will not seek to extend the implementation period, the extent of any trade and security agreement depends on how many aspects of their future relationship the EU and the UK are able to negotiate successfully before they run out of time.
Our latest Brexit Essentials contains outlines the key features of the Prime Minister’s Brexit deal, how it is being implemented and the framework for the crucial next phase of negotiations.