Brexit Update – Mrs May sent back to Brussels Time to anticipate now!

Written by Pascal Janssens 30 January 2019


Yesterday the House of Commons voted on the amendments which will shape the next steps of the Brexit. Members of the Parliament voted the amendment to scrap the most difficult part of the Withdrawal Agreement; being the Irish back stop and send Mrs May back to Brussels for further negotiations.

In response to the vote, the EU spokesman Mr Preben Aamann stated that the Withdrawal agreement is and remains the best and only way to ensure an orderly withdrawal of the UK from the EU, of which the Irish backstop is a part. On which he added that the Withdrawal agreement is not open for re-negotiation.

So with less than 2 months before the Brexit, the chances of the UK leaving the EU under a no deal scenario increased again as the next vote on 13 February appears to be the vote of the last chance.

Steve Barclay (UK Minister of Brexit) stated this morning « We will leave the EU on the 29 of March 2019 with or without a deal »

As a no deal scenario will affect every aspect of trade with and from the UK it is crucial not to loose any time and to be appropriately prepared. Businesses should at least have a view on the potential impact of such a no deal scenario. This is where our multi-disciplinary Brexit team can bring significant value. We developed a unique Brexit impact assessment tool which provides – combined with our proven hands-on Brexit approach – a view on the magnitude of the financial impact of a no-deal scenario based on readily available information, with limited to no investment time from management.

Do reach out to our core Brexit team members today Lionel Van Reet (+32 497 05 11 81) and Claire De Lepeleire (+32 475 91 08 68)