05.10.2022

The British Parliament approved a plan to exit the EU

Theresa may forced to make concessions to opponents of the “Brekzita” in his own party. The lower house of the British Parliament by a narrow margin approved a plan to exit the EU.

The lower house of the British Parliament on Tuesday, June 12, 324 votes to 298 adopted a plan for the country’s exit from the European Union. Thus, Prime Minister Theresa may has gained support, however, she was forced to make concessions to opponents of the “Brekzita” in the ranks of the Conservative party, which she represents. As a result, the Parliament will have more control over the process of entering the United Kingdom from the EU. While some British politicians wanted to maintain close ties with Brussels, while others insist on the maximum possible distance the country from the EU.

For Theresa may, the results of this vote are largely encouraging. The British government is under tremendous pressure from all sides. After the unsuccessful parliamentary elections in 2017, the results of which may intended to achieve significant benefits for the negotiations on the “Brazito”, the conservatives have minimal majority in the House of representatives.

Transition period, during which London and Brussels are to agree on the future partnership will begin after the official British exit from the EU in March 2019 and will take 21 months. During this time the British side will not be able to participate in decision-making, but will continue to comply with EU rules, to make contributions to its budget and to recognize the decision of the court of justice. In addition, London will remain a party to the European market and the customs Union.

After a two year pause, the Group PIC will please its shareholders

UK trade deficit declined in February more than predicted. This contributed to the fall of imports, as confirmed by the official data.

Office for national statistics (ONS) said that the trade deficit narrowed to 9.1 billion pounds from 9.4 billion recorded in January. Economists had expected a deficit of $ 9.2 billion

In February, imports fell 2.2% to 32.6 billion pounds, which helped to offset the decline in exports by 1.6 percent to 23.5 billion – the lowest level of exports since November 2010

UK trade deficit represents the difference between the value of goods that a country exports and the price of imported goods.

According to ONS, the import of aircraft and components fell in February to 46.3 per cent, which led to the fall of imports by three quarters. Imports are also at their lowest level since April 2011

Britain’s deficit in trade with countries that are not EU members, fell to 2.9 billion pounds from January’s 3.9 billion pounds.

The house of lords upheld the right of parliamentary veto on the agreement “Brucite”

The upper chamber of the British Parliament voted in favor of the right of Parliament to veto the agreement of the London and Brussels on British exit from the EU.The upper chamber of the British Parliament on Monday, June 18, called for the right of Parliament to veto the final agreement between London and Brussels on British exit from the European Union. A vote of 354 deputies voted for the adoption of the amendment, another 235 people voted against it.

After the decision of the house of lords amended sent to the lower house of the British Parliament. Its discussion in the house of Commons on 20 June. In turn, Prime Minister of great Britain Theresa may opposes granting the Parliament the right of veto.

The transition period after “Brekzita”

The UK is officially out of the European Union in March 2019. Then between London and Brussels over the 21 months will be a transitional period during which the UK and EU have to agree on the future of the partnership.

During this time the British side will not be able to participate in decision-making, but will continue to abide by the rules of the European Union, to make contributions to its budget and to recognize the decision of the court of justice. In addition, London will remain a party to the European market and the customs Union.

Leave a Reply

Your email address will not be published.