As Brexit approaches on 29 March 2019, only months remain for the UK government and the EU to sign a withdrawal agreement, ratified by both the UK Parliament and European Parliament.
Without a concrete agreement established under Article 50 of the Lisbon Treaty, Brexit would result in a no-deal scenario, forcing the UK to leave the EU and become a third country without the proper framework in place for a future relationship between the separated entities.
Although the government remains confident that a deal will take place, it recently announced that the shrinking time frame calls for proper preparation for a no-deal scenario, publishing a series of articles and 25 technical notices containing industry-specific guidance. The publications highlighted several broad areas in which significant changes could result from a no-deal scenario, including credit card crisis, medicinal hurdles, produce problems, business barriers and issues with ongoing scientific research.
This News Brief briefly summarises each of these areas of potential change.