Impact of European Union Policies on Uk Businesses
Impact of European Union policies on UK businesses Case scenario – if the UK is pulling out from the EU club
Legislation
- A vast majority of UK law is derived from the EU, estimated at 80% of law currently in force in the UK. As such, withdrawal from the EU will have a huge effect on legislation applied in the UK.
- The Treaties (the TEU and the TFEU) would cease to apply, including as part of those, the fundamental freedoms (free movement of goods, services, capital and persons/workers) meaning that the protection of UK citizens either living in or intending to move to an EU Member State will disappear. UK nationals will require visas just to visit any MS and stringent requirements will apply to workers visas. Such rights, which derive from fundamental freedoms and are directly enforceable in UK courts, will be deprived to nationals of other Member States residing in the UK.
- Treaties, Regulations and Decisions (the latter explicitly addressed to the UK or UK party) are directly applicable, i.e. they are automatically legally binding without the need to implement such provisions into national law. All of this legislation currently in force will automatically become inapplicable in the UK and any rights derived will cease to exist. This will leave huge gaps in the UK legal system. For example, the Regulation on compensation to passengers for delayed or cancelled flights will no longer apply. Likewise, competition law regulations such as the vertical agreements block exemption, which exempts thousands of common commercial agreements from UK competition law enforcement, will no longer apply. Identifying such national legislative measures which are affected by Regulations or Decisions (as these are not explicitly given effect into national legislation) and revising them, would be a daunting task.
- National legislation adopted to comply with EU Directives could be ‘potentially' repealed or amended - whichever option would be more beneficial to the
Legislation
- A vast majority of UK law is derived from the EU, estimated at 80% of law currently in force in the UK. As such, withdrawal from the EU will have a huge effect on legislation applied in the UK.
- The Treaties (the TEU and the TFEU) would cease to apply, including as part of those, the fundamental freedoms (free movement of goods, services, capital and persons/workers) meaning that the protection of UK citizens either living in or intending to move to an EU Member State will disappear. UK nationals will require visas just to visit any MS and stringent requirements will apply to workers visas. Such rights, which derive from fundamental freedoms and are directly enforceable in UK courts, will be deprived to nationals of other Member States residing in the UK.
- Treaties, Regulations and Decisions (the latter explicitly addressed to the UK or UK party) are directly applicable, i.e. they are automatically legally binding without the need to implement such provisions into national law. All of this legislation currently in force will automatically become inapplicable in the UK and any rights derived will cease to exist. This will leave huge gaps in the UK legal system. For example, the Regulation on compensation to passengers for delayed or cancelled flights will no longer apply. Likewise, competition law regulations such as the vertical agreements block exemption, which exempts thousands of common commercial agreements from UK competition law enforcement, will no longer apply. Identifying such national legislative measures which are affected by Regulations or Decisions (as these are not explicitly given effect into national legislation) and revising them, would be a daunting task.
- National legislation adopted to comply with EU Directives could be ‘potentially' repealed or amended - whichever option would be more beneficial to the