UK Publishes Great Repeal Bill

Britain published legislation on Thursday to sever political, financial and legal ties with the European Union, an important step towards Brexit but one which the opposition said it would challenge.

The repeal bill is central to the government’s plan to exit the EU in 2019, disentangling Britain from more than 40 years of EU lawmaking on everything from finance to fisheries and repealing the treaty that first made Britain a member in 1972.

Its passage through parliament could make or break Theresa May’s future as prime minister. The election she called last month cost her an outright parliamentary majority and reopened the debate on the nature of Brexit, with Britain’s public spending watchdog now saying the government is not well prepared.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.