Brexit is now a done deal, signed and almost closed, the only step that remains is the exit, which will happen nine months from now. With the Queen signing the Bill, Britain will be officially exiting the European Union on March 29 next year, ending the process that started in June 2016 when the country voted to detach itself from the European Union.
A lot has changed for Britain since that referendum, leading first to the resignation of the then Prime Minister David Cameron and Theresa May stepping through the doors of Number 10, Downing Street, soon calling for an election in a bid to get a stronger mandate to help her take the country out of the Union, but ending up getting a reduced majority in the House of Commons. That was political, now it is the financial repercussions of the exit that Britain has to shore itself up against so that it keeps the industrial and economic wheels moving.
All’s not, however, well in the country of Great Britain. Hours after news came in of the Brexit Bill becoming law business leaders and trade unions called for urgency in negotiations, former prime minister Tony Blair said the date of the exit could be delayed, and economists warned there could be a slowdown in the economy that could show up not immediately, but at a later date. Unfazed, PM May and leader of the opposition Jeremy Corbyn are of the same mind that they ha e to respect the wishes of the people of the country, who in June 2016 voted by a slim majority of 51.9% to 48.1% to detach from the European Union.
The months ahead are not going to be easy for Britain, especially as the fears of economic fallout due to the exit grow. The fact that business leaders and trade unions, not just from the UK, but from across Europe have together called for “pace and urgency” in Brexit negotiations indicates that there are misgivings of the fallout on the economy. It is their contention that the UK and the EU must “put economic interests and people’s jobs, rights and livelihoods first”. Even the Bank of England’s financial policy committee (FPC) has warned that contracts worth trillions of pounds between UK and various European Union banks are at the risk of collapse after Brexit becomes a done deal, since Brussels has failed to implement any protective legislation.
As Britain battles to smoothen its exit, for the thousands of Goans in the UK, especially those who have migrated there as EU citizens based on their Portuguese citizenship, Brexit will bring its own fears. The good news for them would have been last week’s announcement of simple registration for EU citizens after Brexit. Applicants will only have to prove that they live in Britain and have no serious criminal convictions. There will also be no minimum income requirement. EU citizens living in Britain will have to start registering from August this year as they have to apply for a new status. This decision of the British government comes from a deal with Brussels that allows EU citizens and their relatives to stay on after Brexit.
It could, however, get tougher for those who are contemplating a move in the coming months, though the freedom of movement will continue during the implementation period that will end in December 2020. European citizens who have lived in Britain for five years by that point will be eligible for ‘settle status’, granting them indefinite leave to remain, while newer arrivals will have to register for pre-settled status, which will allow them to stay for a further five years, and in future apply for settled status. While it appears to be beneficial to the immigrants, a clearer picture on Brexit will be available only in the coming months.
