Business Law and Ethics: Examining Brexit's Impact on UK Independence

This report delves into the intricate relationship between business law, ethics, Brexit, and parliamentary sovereignty in the UK. It begins with an overview of business law and ethics, highlighting their importance in organizational sustainability. The main body of the report focuses on Task 2, which examines the operation of parliamentary sovereignty in the UK, particularly in the context of Brexit. The report explores the significant role of the European Union in diplomacy, trade, human rights, and development, and then assesses the impact of Brexit on the UK's trade policies, economy, and independence. It discusses the EU-UK Trade and Cooperation Agreement, the economic effects of Brexit, and the legal changes following the UK's withdrawal from the EU, including the European Union (Withdrawal) Act 2018 and the role of the UK Supreme Court. The conclusion summarizes the key findings, emphasizing the challenges the UK faces post-Brexit. The report draws on various academic sources to support its arguments.

Business Law and Ethics

INTRODUCTION...........................................................................................................................4
MAIN BODY..................................................................................................................................4
TASK 2(Individual report)..............................................................................................................4
Discuss with reference to the operation of parliamentary sovereignty in the UK. In the context
of this discussion you should consider if the UK’s new found independence is real or just a
façade...........................................................................................................................................4
CONCLUSION................................................................................................................................7
REFRENCES...................................................................................................................................8

INTRODUCTION
Business laws and ethics are those laws which is been used in order to run business
organization in more effective manner. Business law has helped in making an organization attain
sustainability within an organization. Business ethics makes environment of business developed
within an organization. In these report things to be covered is based upon Brexit and European
Union. In this report both European Union and Brexit is explained in then end justification is
provided over Impact of Brexit on UK.
MAIN BODY
TASK 2(Individual report)
Discuss with reference to the operation of parliamentary sovereignty in the UK. In the
context of this discussion you should consider if the UK’s new found independence is
real or just a façade.
The European Union has been playing important role in relation to diplomacy with
promotion of human rights, trade, development and humanitarian aid working in relation to
multilateral organization. Further European Union has helped in making coordination develop
between member’s countries (Key and et. al., 2019). Some important role played by European
Union has been explained as follows:
Contributor to peace: This is one of the most important roles that have been paid by
European Union. It makes conflict solved all over the world resulting making peace to be
achieved. In this EU has been contributing in peace at very high level it has made various
agreements to be moderated over agreements that made historical agreement over nuclear
programs created in more effective manner. EU with the help of other countries like China,
France, Germany, Russia, the United Kingdom and the United States has made progress. It has
made United Kingdom attain strength in relation to peace making all over the world. EU has also
set up committees within countries which are not financially sound in order to help them in terms
of building strong agreements. Also EU has made various kinds of talks and rounds conducted
which has resulted in making peace to be maintained within UK. EU has been helping in making

countries emerged from political crises by making peace agreements with them. Further EU has
been helping neighboring countries. In this EU has been helping in making train Malian armed
forces over fighting against terrorism which makes sustainable development created. This is an
example of the EU's comprehensive approach which uses all its tools - diplomatic, security,
financial and with development cooperation. Through its political, practical and economic
support, the EU has played a crucial role in building peace in the Western Balkans since the
Yugoslav wars.
A responsible neighbor: To the east and south of the European Union lie many countries
which have undergone – or are still undergoing – dramatic political change. To accompany their
transition to fully-fledged democracy, the European Neighbourhood Policy aims to maintain
solid and friendly relations with countries at the European Union's borders. Promoting
democracy with good governance has made United Kingdom emerge as one of the super powers
in world. Human rights while opening trade and cooperating in many policy areas, including on
migration and visa issues are some of the Policy's aims.
Development partner: EU is the largest donor in relation over development aid. EU and
its member states provide assistance in relation over development criteria set by various
countries. Also it has contributed in making food and other basic necessity cities provided to
developing there basis needs. Thus EU has helped its neighbouring state in attaining
sustainability by making them achieve goals and objectives set by such countries.
Human rights: EU has made human rights a central aspect of its foreign relations and
expresses this focus in political dialogues with third countries, in its development policy and aid,
and in its participation in multilateral forums, such as the United Nations. The EU also has
human rights policy guidelines covering areas such as the death penalty, torture and freedom of
expression offline and online. The EU's Instrument for Democracy and Human Rights (EIDHR)
enhances respect for human rights and fundamental freedoms in countries and regions where
they are most at risk. The right to vote is a human right. Election observation is a vital EU
activity which aims to promote democracy, human rights and the rule of law worldwide (Haidt
and Trevino, 2017).

Trading: European Union is world’s largest trading organization and has been helping in
making various kinds of trade policies formed within United Kingdom. This made trade relation
to be strong over making agreements created over trade policies. This made EU formed stronger
policy for making trade agreements created in this negotiation is been done over trade practices
in UK. This made EU develop itself as trading system which makes free and faire trading to be
made in smooth manner.
This is how European Union has helped United Kingdom in developing itself as one of
the super power within world. It made United Kingdom attained success with proper framework
that made trade policies attain strength. The major part that is impacted due o Brexit is the EU-
UK Trade and Cooperation agreement. Also the trade policies formed with EU is been impacted.
This made trade to be impacted in more effective manner. This made per capital income of
United Kingdom damaged. The effects of Brexit will in part be determined by the EU–UK Trade
and Cooperation Agreement which was agreed on 24 December 2020 and ratified by the UK
Parliament on 30 December 2020 and was "provisionally" applied by the EU from 31 December
2020. The broad consensus among economists is that Brexit will likely harm the UK's economy
and reduce its real per capita income in the long term, and that the referendum itself damaged the
economy. Brexit is likely to reduce immigration from European Economic Area (EEA) countries
to the UK, and poses challenges for British higher education, academic research and security; the
Turing scheme was announced as a new global student exchange programme in early 2021 to
combat this. Following Brexit, EU law and the EU Court of Justice no longer have supremacy
over British laws or its Supreme Court. The European Union (Withdrawal) Act 2018 retains
relevant EU law as domestic law, which the UK can now amend or repeal. The 2015
Referendum Act did not expressly require Article 50 to be invoked but prior to the referendum,
the British government said it would respect the result. When Cameron resigned following the
referendum, he said that it would be for the incoming prime minister to invoke Article 50. The
new prime minister, Theresa May, said she would wait until 2017 to invoke the article, in order
to prepare for the negotiations. In October 2016, she said Britain would trigger Article 50 in
March 2017, and in December she gained the support of MP's for her timetable.In January 2017,
the Supreme Court of the United Kingdom ruled in the Miller case that government could only
invoke Article 50 if authorised by an act of parliament to do so. The government subsequently
introduced a bill for that purpose, and it was passed into law on 16 March as the European Union
(Notification of Withdrawal) Act 2017. On 29 March, Theresa May triggered Article 50 when
Tim Barrow, the British ambassador to the EU, delivered the invocation letter to European
Council President Donald Tusk. This made 29 March 2019 the expected date that UK would
leave (EUAsad, 2020).
It can be observed that United Kingdom is going to be affected from the Brexit in a way
that trade policies are going to be weakening. Also it is going to lose stability within the country.

Further Brexit has made United Kingdom change its various policies or has to amend them
majorly. This is also impacting GDP growth of United Kingdom which is directly going to make
economy weaken within the country. So, United Kingdom after leaving European Union is going
to face lot of difficulties in its survival.
CONCLUSION
From the above discussion it can be concluded that business law and ethics are those
kinds of elements which is required for an organization to develop itself in more effective
manner. Further the report covers about Brexit and European Union within it. Since European
Union has helped in making United kingdom attain stability at global level. Since Brexit is been
followed United kingdom is required to face lot of difficulties.

REFRENCES
Books and Journals
Asad, T., 2020. 7 Reconfigurations of Law and Ethics in Colonial Egypt. In Formations of the
Secular (pp. 205-256). Stanford University Press.
Haidt, J. and Trevino, L., 2017. Make business ethics a cumulative science. Nature Human
Behaviour, 1(2), pp.1-2
Key, T.M. and et. al., 2019. Embedded ethics: How complex systems and structures guide ethical
outcomes. Business Horizons, 62(3), pp.327-336.
Moretti, A., 2019. Navigating the grey areas of law and ethics in ethnography. Journal of
Organizational Ethnography.
Peterson, E.A and et. al., 2018. Beyond Black Letter Law: Spirituality in the Business Law
Classroom. JL Bus. & Ethics, 24, p.51.
Young, C., 2019. Putting the law in its place: Business ethics and the assumption that illegal
implies unethical. Journal of Business Ethics, 160(1), pp.35-51.