EU & UK Update: Brexit

On March 29, 2019, the UK Parliament once again voted against the Brexit Deal put forward by Prime Minister Theresa May. As previously negotiated, the Brexit date was automatically extended to April 12, 2019.

The UK Parliament will continue to debate Deal-scenarios that can be put forth to the EU, to avoid crashing out of the EU without any stop-gap measures in place regarding trade, customs, and free movement. An EU summit is expected on April 10, which is likely when the UK must present a deal if one can be agreed upon.

Given the great deal of uncertainty, EIG recommends that all clients prepare for a no-Deal Brexit to occur on April 12, 2019.