Britain has officially left the European Union, a move which has left many people wondering what the next steps will be. And now that the world is starting to reopen after the Covid-19 crisis, the questions of movement between Europe and the UK are at the forefront of people’s minds. The rules around travel between the UK and the rest of the world are still hazy and subject to sudden change, despite over four years of negotiations, but here is what we know so far.
Freedom of movement is over
While the rest of the EU can enjoy the freedom of movement between the different countries, the UK has been stripped of their right to movement across the Bloc. The only place that continues to have freedom of movement is the island of Ireland. Northern Ireland and the Republic of Ireland are protected under the Good Friday Agreement, a peace deal which was signed in 1998, which ensures the two countries will never have a hard border and will not be affected by Brexit. This has raised a lot of questions about how movement should be conducted between the UK and Ireland without compromising the peace deal, yet still respecting the Brexit vote.
The UK has never used the Euro as their currency, choosing to favour keeping the British Pound, so there is no change when it comes to exchanging money. THowever, tere has been an issue with the exchange rate. The Pound has fallen and shot up repeatedly since the Brexit result was announced. Trade deals are constantly being negotiated which means CFD Trading can be affected as markets swing to adjust to the latest news. It has become increasingly hard to work out how strong the Pound will be on any given day, making things very unpredictable. Although it is predicted that it will take years for the UK to recover from the impact of the Brexit vote.
Business has been affected
The Freedom of Movement within the EU applies to many things, including goods and people. For businesses that relied on trade with the EU, things have become tricky as everyone attempts to grapple with the new restrictions. There were scenes of chaos at ports with massive queues of lorries that didn’t have the correct paperwork or had to wait while paperwork was processed. Depending on the length of your stay, you may need to apply for a visa and provide additional paperwork. People who regularly travel from the UK to Europe for business will be facing a headache and a lot of legal paperwork.
There are still many questions that need to be answered about how to travel to the UK now that Brexit has happened. One of the biggest obstacles is the Covid crisis which has restricted movement worldwide and required people to quarantine on arrival from certain countries. It will be interesting to see how movement and travel will continue to change in the next few years as the kinks are ironed out of the agreements.