One year after the Brexit referendum – where do we go from here?
On 23 June 2016, a narrow majority of UK voters chose to leave the European Union (EU). This referendum result set in motion a process that will lead to Britain exiting the EU by 29 March 2019, at the earliest. Before that date, the EU27 and the UK need to come to a negotiated agreement on the terms of the UK’s withdrawal as well as decide on the contours of their future relationship. If no agreement can be reached by that time, the EU member states may extend the period, but a unanimous vote is required for this to happen. In the absence of an extension or withdrawal agreement, the UK will revert to third-country status. This outcome, sometimes described as ‘hard’ Brexit, would wreak havoc on companies’ supply lines and distribution networks. Certain measures may be taken or agreements negotiated that mitigate the impact of Brexit. The following looks at a few of them.