UK will exit the EU and the European Economic Area, effective 11pm UK time on March 29th 2019.
What would happen if the UK left without a deal?
The UK would sever all ties with the EU with immediate effect, with no transition period and no guarantees on citizens’ rights of residence. The government fears this would cause significant disruption to businesses in the short-term, with lengthy tailbacks of lorries at the channel ports, as drivers face new checks on their cargos.
Food retailers have warned of shortages of fresh produce and the NHS is stockpiling medicines, in case supplies from EU countries are interrupted. Government ministers and multinational companies with factories in the UK have also warned about the long-term impact on the British economy. Brexit-supporting MPs claim it would not be as bad as they say and the UK would save on the £39bn divorce bill, as well as being free to strike its own beneficial trade deals around the world.