Concerns for Britain on Brexit Bill

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
  1. Limited space for Britain to negotiate trade agreements with non-EU nations.
  2. 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