As of January 31, the United Kingdom [UK] has officially left the European Union. Brexit has finally happened after three and a half years of uncertainty. How did the kingdom reach this outcome, and what will it mean for the UK’s future?
Brexit’s History
The path to Brexit began in May of 2015 when the Conservative Party brought the vote of leaving the European Union [EU] to the British public. It would be a full year before the vote would occur on June 23, 2016, the UK public formally voted on the resolution, with 51.9% voting in favor of the separation. Most of southern Britain voted for the resolution (minus London) and most of Scotland voted against. Even though the vote was non-binding, the UK government formally vowed to follow it through to the end. However, this was much more difficult than expected.
The Prime Minister of the UK, David Cameron, who had been against leaving, but forced into holding a vote, resigned shortly after the vote. Theresa May succeeded him as PM. However, even after this change of leadership, Brexit was stopped multiple times in the Parliament from passing, due to the differences in opinions of how to carry Brexit out. After multiple failures, May followed Cameron’s footsteps and resigned in July of 2019. Boris Johnson became the new PM and promised to follow through on the resolution. He called an early election in December. The Conservatives won a majority during that election and Johnson stated the government had “a powerful new mandate to get Brexit done.” The new UK government passed the resolution on January 23, 2020, leading to the separation of the union between the UK and EU a week later.
What happens now?
The UK is now in a transition period with the EU which will last until the end of the year. At this time, all treaties, deals, and agreements will end. Currently, the UK has no role in the governing of the EU, however, they are bound by the laws of the EU until December 2020. During this time, the EU and the UK will try to make agreements on trade and borders. The UK hopes to make deals with the EU, however, the EU commission has stated that this may not be enough time, and the deadline may be reached without a deal. This outcome would likely cut Britain off from the rest of Europe. With the uncertainties of the US presidential election, some have speculated that a national, continental, or global recession could begin.
On the other hand, Brexit could give the US a huge opportunity. As the UK is no longer bound by EU laws, they must make new trade deals and agreements. Johnson has already made it clear he wants a free trade deal with the USA, a deal he views as better than when the UK was part of the EU. This could boost the economies of Britain and the US. This deal, like much of the details surrounding Brexit, is uncertain. The United Kingdom will become fully separate from the European Union on December 31st, 2020, regardless of the circumstances.