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Brexit

/Brexit

Brexit is a commonly used term for the United Kingdom’s withdrawal from the European Union. Following a highly controversial and divisive 2016 referendum vote to leave, the UK government started the withdrawal procedure on 29 March 2017, putting the UK on course to leave the EU by 31 March 2019 at the latest.

Theresa May, who became Prime Minister after the referendum, has promised a bill to repeal the European Communities Act and incorporate existing EU laws into UK domestic law. In January 2017, she announced a 12-point plan of negotiating objectives and confirmed that the UK government would not seek continued membership in the single market.[4] The terms of withdrawal have not yet been negotiated and in the meantime, the UK remains a full member of the European Union.

The UK joined the European Communities (EC), a predecessor of the EU, in 1973, and confirmed its membership in a 1975 referendum. In the 1970s and 1980s, withdrawal from the EEC was advocated mainly by some Labour Party and trade union figures. From the 1990s, withdrawal from the EU was advocated mainly by some Conservatives and by the newly founded UK Independence Party (UKIP).

Get My Market is watching events and will provide reports and news about how Brexit will affect the UK market, how it will impact High Net Worth Investors and Households as the UK begins the long road to breaking with the European Union.

General Election – What does this mean for the pound?

On April 18th 2017, Prime Minister Theresa May let the country know that at 11.15 am, there would be an announcement at Downing Street. Speculation ran wild on Twitter as to what this would be, and when the time came, Theresa announced plans to hold a snap General Election on June 8th. But what does this [...]

April 18th, 2017|Categories: Brexit|

The Pound Falls following May’s Brexit Comments

  The value of the pound has fallen to its lowest in two months against other major currencies following Prime Minister Theresa May’s plans to pursue a “hard Brexit” from the European Union. Across the board, the pound fell by 1%. Speaking to Sky News, May cited she wanted the best possible deal upon leaving the [...]

January 9th, 2017|Categories: Brexit, Finance|Tags: , |