SHANGHAI, April 25, 2018 (Newswire.com) - Last week the UK’s Brexit negotiator, David Davis, cautioned that without a real idea of how the future trading relationship with the European Union would go, British parliament could reject any proposed Brexit deal.
Harvey Blackwood analysts say the UK is attempting to secure a detailed free trade agreement with the European Union and is aiming for it to be signed not long after it officially leaves the bloc less than a year from now. Harvey Blackwood analysts say there is widespread uncertainty regarding how much can be dealt with properly by that time.
The UK’s parliament will vote on an official exit treaty at a later date, at which point it will have the power to veto any such agreement.
Davis stated that parliamentary members would demand a great deal of detail before approving any treaty. The UK will be liable to pay a settlement of around 39 billion pounds to the European Union upon its withdrawal from the bloc.
Harvey Blackwood analysts say that, given the size of the settlement, parliament is unlikely to agree to any withdrawal treaty without a clear idea of long term trade relations between the UK and the EU.
Those against exiting the European Union believe that gaining sufficient support in the House of Commons to reject any divorce deal presented is the best way of preventing Britain from leaving the bloc.
David Davis believes that the UK’s financial sector will not be as badly affected by Brexit as some fear and that there will be less loss of employment than was originally anticipated.
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Source: Harvey Blackwood