Impact of Brexit Transition Period on the Growth and Success of UK

INDIVIDUAL
REPORT

Contents
INTRODUCTION...........................................................................................................................................3
MAIN BODY.................................................................................................................................................3
TASK............................................................................................................................................................3
CONCLUSION...............................................................................................................................................6
REFERENCES................................................................................................................................................7

INTRODUCTION
Aim of this essay is to analysis and understand the impact of Brexit transaction period in
the growth and success of UK. Brexit is consider as a withdrawal agreement under which the
United Kingdom setting the terms of the withdrawal of the UK from the EU. After this Brexit
transition period United Kingdom is responsible for making their own law (Considère, 2020). It
will define the period on which both the UK & EU will decided to withdrawal. It is a kind of
agreement in which United Kingdom is no longer consider as an member of EU. But they will
remain member of the customs union & single market. This transition period is immediately start
after the UK left European Union on 31 January, 2020. Through this essay various positive and
negative impact on UK are analysis which are occur because of Brexit Transition period. Other
than this it also include its impact on the Parliamentary sovereignty operations in the UK.
MAIN BODY
TASK
Brexit- It refers to a decision of UK to exit from EU, it will include an effective process
of boards, and law related to citizen registration, and negotiation new trade deals. This process id
started on June 23, 2016 after the referendum passed by 51.9% to 48.1%. While the referendum
is passed because of various cause like immigrations, sovereignty, monetary issues and so on.
Another reason behind it is that citizens of UK will do not have EU identity but have a effective
and strong identity (Li, Liang and Zhang, 2021).
Brexit Transition period- It refers to a period in which both UK and EU will agree to
withdrawal and after this specific time period under it UK will not anymore member of EU but
they will remain the member of single market & custom union. During this time, it will continue
to be subject to EU rules Brexit transition period, 2021. It was analysis that the UK government
will not use the term Transition while they will prefer to use implementation period. The
withdrawal agreement specifies that the transition period will last until 31 December 2020. It is
also analysis that UK is still consider as a part of European Union economic & corporation
security arrangement until to the end of their transactional period. During this time European
Union will continued to treat the UK as its member and also asked their trader partners to do not