The British Government triggered Article 50 on 29 March 2017. This kick starts the formal process of leaving the EU. According to this law, unless a delay is agreed, Britain will leave the EU on 29 March 2019, with or without a deal.
WHAT’S ALL THIS ABOUT A DEAL?
Although we do owe a small sum for the present financial arrangements, we do not owe the EU any money for a “divorce bill”. The very idea is preposterous. If anything, the EU must pay the U.K. money for access to the British market since our trade with them is an £80 billion pound per annum loss-maker.
SO WHAT’S THE EU WITHDRAWAL BILL?
The purpose of the Bill is to transfer all EU laws and regulations into U.K. law, and over time, repeal those that no longer suit us. The Bill also repeals the European Community Act, 1972, and all subsequent Acts from the EU. If we leave the EU with no deal, a hard Brexit will make the Withdrawal Bill redundant. Government can simply withdraw from the EU Treaties by notifying the Vienna Convention of Treaties. HMG can then transpose back into U.K. law those few EU directives that suit us, and jettison the rest. Economist Patrick Minford reported recently that the U.K. economy stands to gain £135 billion from a hard Brexit. So why wait? Let’s leave now! (see Professor Minford report on our News page)