The Single Market Struggle
As the UK continues to negotiate with Brussels over the terms of Brexit - and in particular how British businesses will trade with the rest of the world post-Brexit - the issue of whether Britain will remain in the single market after 29 March, 2019, is proving to be a controversial one.
Ever since the UK voted to leave the EU in June 2016, Theresa May has repeatedly stated that Britain will also leave the European Economic Area (EEA) once Brexit is official. The EEA is an organisation that contains all EU member states and sees them participate fully in the single market - with the agreement providing for the free movement of persons, goods, services and capital within the market.
It is possible to be outside of the customs union but stay inside the single market. Three European Economic Area nations, Iceland, Norway and Liechtenstein, are all countries able to trade freely within the single market despite not being ratified members of the European Union - offering a potential successful trading route for UK firms in the future.
However, Peter Wilding and Adrian Yalland, who head up ‘Single Market Justice: The Article 127 Campaign’, believe that because withdrawal from the single market was not on the referendum ballot paper in 2016, the PM must seek government approval on the issue by putting it to a vote by MPs.
The pair argue that the UK government would be breaching EU law by exiting the single market without first triggering Article 127 of the EEA Agreement; which the UK is signed up to and which states that members wishing to pull out must give 12 months’ notice before doing so.
But High Court judges rejected an appeal by the campaign earlier this month for a vote to be forced upon the PM, saying that the application was premature as the government is yet to officially confirm their stance on the single market. Clarification is expected by the end of March 2018 due to the year-long notice period; meaning a fresh legal challenge could be launched by ‘Single Market Justice’ after next month.
And with recent reports suggesting that the EU wants to be able to restrict the UK's access to the single market if there is a dispute after Brexit - and some economists predicting that Britain will be £75 billion worse off outside the single market - the current uncertainty is making many UK business owners concerned about what the future holds for their firm if Britain exits the EEA.
But you don’t have to be one of them. That’s because on 16 & 17 May, 2018, at London’s ExCeL, Going Global Live will host an unmissable educational talk by ‘Single Market Justice’ leader Peter Wilding. As the man who officially coined the term Brexit, no one is better placed to help UK businesses prepare for a potential life without unfettered access to the 500 million customers within the EU single market.
So if you want to remove the doubt from your business’ future and get priceless guidance from this acclaimed Brexit expert, Going Global Live is the must-attend event of the year for you and your company.
Ensure you don’t miss out by registering for your free tickets now!