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ARTICLE · 13 NOVEMBER 2017

Brexit means...?

Fenwick Elliott LLP
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Amidst a spectrum of bold political promises, rhetoric and catchphrases, we now know exactly what Brexit means. The recent addition of "Brexit" to the Oxford English Dictionary is very simply defined as: "The withdrawal of the United Kingdom from the European Union". Yet, aside from its honorary inclusion into the English language, as Edward Colclough explains, much still remains uncertain about Brexit and its implications for the UK construction industry.

United KingdomReal Estate and Construction

Amidst a spectrum of bold political promises, rhetoric and catchphrases, we now know exactly what Brexit means. The recent addition of "Brexit" to the Oxford English Dictionary is very simply defined as: "The withdrawal of the United Kingdom from the European Union". Yet, aside from its honorary inclusion into the English language, as Edward Colclough explains, much still remains uncertain about Brexit and its implications for the UK construction industry.

Following the UK's vote to leave the EU on 23 June 2016, by a slim majority of 51.9% to 48.1%, in March this year the UK Government formally triggered Article 50. In doing so, it commenced a two-year negotiation period to implement what is meant by Brexit. With the pressure of a two-year deadline to negotiate a divorce settlement with the EU under way, this June saw a Brexit-induced snap general election. The outcome, a result the pollsters miscalculated almost as much as the Brexit vote just 12 months before, a

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