What is the issue?
UK parliament’s vote on the Brexit bill is expected to be in favour of continuing in the European Union.
What is Brexit all about?
- In 2016, Brexit was announced in Britain after the referendum for exiting the European Union.
- This decision was taken due to various reasons such as
- Limited space for Britain to negotiate trade agreements with non-EU nations.
- The trade deals with EU are more than the terms that can be made with other countries.
- After the referendum, the UK and EU provisionally agreed to settle financial, strategic and political issues over a transition period of 21 months.
What are the recent happening in UK parliament?
- Divisions are deepening among the ruling party over a hard or soft exit and they are interested in getting more rights over the UK citizens, post-Brexit.
- There also some expectations over the voting on the Brexit amendment bill, which could be against the stand taken by UK administration.
What are the reasons behind the recent move?
- Some analysts forecast that Britain would face economic consequences for leaving the EU.
- Such as a meagre 0.2-0.4% rise in GDP from a U.K. trade deal with countries outside the bloc, including the U.S. and China.
- The loss of trade with EU, could also be a huge burden for Britain to handle on its own.
- There are also controversies over the future of status of London in EU and an impending risk of hard border between Britain and the Republic of Ireland.
Source: The Hindu
