Impact of Brexit on Business Law and Ethics in the UK
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Added on  2023/06/10
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This report analyzes the impact of Brexit on Business Law and Ethics in the UK, covering pre and post-Brexit era, changes in free movement and immigration, trade and future cooperation, supervision and dispute settlement, education, energy and sciences, and deals with non-EU countries.
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Table of Contents INTRODUCTION...........................................................................................................................3 TASK...............................................................................................................................................3 PRE BREXIT ERA.....................................................................................................................3 POST-BREXIT: UK GOT ITS INDEPENDENCE....................................................................4 CONCLUSION................................................................................................................................7 REFERENCES................................................................................................................................8
INTRODUCTION The term business law refers to set of rules and regulations in the form of agreements, conventions, enactment of nation and foreign land which governing the dealing among persons in mercantile subjects. It is also known as commercial law. The term brexit is made up from combination of two words Britain and exit which means withdrawal of European Union membership by the United Kingdom. It process of withdrawing mention in Article 50 of treaty of European Union by member nations. The process was started in 2017 by making official notification to European council by the United Kingdom of its intention to leave end the membership of united nation. In transitional period continuous communication takes place between them regarding future relationship (Freedman and Loutzenhiser 2022). Like negotiation made on European atomic energy community and the European union on trade and cooperation agreement. This report deal with pre and post effect of brexit on UK. TASK PRE BREXIT ERA The EU provide single market facility to its member nation which provide variety of goods, services which helps in making money and people can move freely throughout in member nation of EU because of easy move citizens of EU have the right to study, work or retire in any EU nation. As member of EU enjoy same facilities as its own citizens regarding employment, social security or tax purposes. To prevent the fluctuation in currency euro use by citizen of EU which boast single market. As per the treaty on the European union citizen of EU and its legal resident have vast range of rights in several field as per EU laws. Before brexit UK enjoy personal, Social, political, economic rights as per the charter of fundamental rights being a member of EU. Member nation have right to employment they can work in any member nation and enjoy basic rights relating to health and safety at workplaces, equality in opportunity and protection from discrimination (Martill and Sus 2018). UK also enjoy digital right in which person rights and information was protected under data protection and privacy law. Consumer rights are protected by EU by which consumer are feel secure they get their money back in case of wrong delivery of item because of strict standard of goods and services. UK enjoy the status of world's stringent standard of good regarding quality and safety. When UK
was member of EU it comes under the category of world' largest exporter of finished goods and services. And benefit of free trading among its members was provided due to single market policy.Its helps in protecting against downside of globalisation because of membership which support small businesses and make assure big companies pay their share. As EU have prime status in global trade because of free movement. Regarding food products its come under best quality standard health protection is the motto of law made by EU. It also concern about nature so, for environment protection they produce the good keeping in mind the minimum risk to climate, flora and fauna, and health. UK acting as a unison which have voice on world stage which provide donation for progress assistance and work jointly for promoting good governance, poverty, malnutrition, preserving natural resources. UK being a part of EU follow the guideline of human right policy covering the matter like death punishment, torture and liberty of expression. Like the instrument for democracy and human rights states about human right and freedom in nation where they are most in peril. EU provides help to nations and population within Europe in case of humanitarian emergencies. Like during the period of pandemic it supports a lot in terms of medical aid and financially (Menon and Salter 2016). The EU collaborate with governmentsof member countries apart the processing world along with civil society and international bodies. Like in Haiti the EU gives a number of various forms of aid and development aid which help the country in developing resilience, resolve cognition weaknesses and bring temporary relief to the most assailable. The EU has furnish Haiti with €419 million(approx.) to help in give right to life- saving health facilities, administer emergency protection in camps and host families, provide access to clean water and sanitation facilities, parcel out food, take a preventive steps against an increase ofmalnutrition, happening of epidemics and pandemic and actual civil unrest, bring down vulnerability in camps, lays down primal warning systems and reinforce shelters and architectureagainst recurring hurricanes, floods, and other natural hazards. As a part of EU the united kingdom also taking the advantages of such facilities. POST-BREXIT: UK GOT ITS INDEPENDENCE After UK left EU major economic and political variations occurred in the state. Under the conditions of negotiated divorce deal, UK is now in partnership with 27 countries cooperating different aspects of economy. The Trade Corporation Agreement is entered which allows for
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tariff-less, ratio-free entry to each other's marketplace for goods but not for work or personal services. It also envelopes future contentions , fishing benefits, and competition on issues including security. Discharged from EU commercialism and "free motion" regulations, the UK has been presenting its own plan of action on commerce and immigration just as the EU now does respecting British people. Other modifications impact people, movement and enterprises. EU people who are already residing in the United Kingdom and Britons residents on the landmass have the freedom to stay but it is contended that complex paperwork, documentation and registration process has created uncertainty for them. Other areas which have been impacted are as follows: ï‚·Free Movement and Immigration EU nationals now doesn't have the right to settle in UK or move freely too nor the UK citizens are allowed to do so without restrictions. The right to freedom is lost from January 2021 which means that the absolute right which the citizens possessed has no become conditional. Cross- border travel and private rights are also limited now. The preferential treatment which was given to EU in immigration is no longer available as UK is now implementing new immigration regulations. ï‚·Trade and Future Cooperation Post Brexit there have been constant tries from London and Brussels to reach an agreement on thefuturerelationshipofUK-EUwhichfailedleadingtotheirreversiontotraditional international rules and leaving the other determinations affecting the business in Limbo. Now the future cooperation is finally achieved with TCA which was long stuck until 2020 Christmas Eve. The obstacles like EU fishings rights in waters of UK and fair competition ensured by safeguards were removed with time to pave the way for this deal (O'Rourke 2019). This all came during the COVID-19 pandemic and the sterling economic juncture in Europe after World War II. This called for global cooperation and acts to ease harmful problems, not aggravate them. ï‚·Supervision and Dispute Settlement A associated Partnership Council is to be formed under the transaction to oversee its practical application. It has typical representation from both sides which will have meeting at least once a twelve month, and has the authority to alter parts of the trade ifissues come to knowledgeA distinct arbitration and conflict settlement mechanics is framed, which does not be dependant on EU law and involved no role for the Continental Court of Justice.
ï‚·Education, Energy and Sciences Scientific group action proceeds with the UK still a contributing associate of the EU's Horizon Europe system for 7 years. It also stays in the EU's Globe observation promulgation Copernicus and the atomic energy arrangement (Virdee and McGeever 2018). However, UK is not the part of EU's student program and Erasmus and left this to form the turning scheme which is UK's new initiative towards international studies. ï‚·Deals with non-EU countries Post-Brexit, the autonomous trade deals are started by the UK to move a self-directed trade policy. The British authorities has been operating to "roll over" various EU trade deals with third states which no more apply to the UK.
CONCLUSION It can be concluded with this work that the UK sought aautonomous trade deal with freedom and no control of EU rules. The EU's priority is to protect the integrity of its projects and to ensure the UK has no unfair competitive advantage in the future. Although the talks had elaborate specified details, both sides had multiple political aims. Now the tassel continues where United Kingdom desires independence of actions for Europeans and is not willing to compromise hard achieved freedom. In contrast EU is adamant in showing that decision of exiting it is not appropriate for UK and life inside the block is better than outside. It is also stated that UK just can't cherry-pick the benefits without accepting the liabilities. United Kingdom has come a long way and have a whole strata of hurdles to cross in the process of its future growth and development.
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REFERENCES Books and Journals Freedman, J. and Loutzenhiser, G., 2022. Tax policy in the UK post-Brexit.Oxford Review of Economic Policy,38(1), pp.188-204. Martill, B. and Sus, M., 2018. Post-Brexit EU/UK security cooperation: NATO, CSDP+, or ‘French connection’?.The British Journal of Politics and International Relations,20(4), pp.846-863. Menon, A. and Salter, J.P., 2016. Brexit: initial reflections.International Affairs,92(6), pp.1297-1318. O'Rourke, K., 2019.A short history of Brexit: From Brentry to backstop. Penguin UK. Virdee,S.andMcGeever,B.,2018.Racism,crisis,brexit.Ethnicandracial studies,41(10), pp.1802-1819.