What happens now – the timetable for Brexit

AND so the UK’s long-drawn-out departure from the European Union begins.

Pre-referendum, Prime Minister David Cameron voiced the view that should the Brexit camp win, the process could begin straight away.

But Mr Cameron’s stated intention to step down but only by October, to allow his successor to start the job, effectively delays the “hitting of the start button” of the process.

Article 50 (2) of the Lisbon Treaty states that the two-year period for exit starts from the date an agreement is reached over exit, not the date on which the European Council is initially informed of its intention to leave.

However, if terms over the UK exit cannot be agreed, it’s departure WILL be effected two years after initial notification of the leaving intention.

Realistically, it looks like the Conservative Party will elect a new leader late September or October and then the talking will begin in Brussels.

The UK is controlling when the two-year period starts, by choosing the date when it gives notice under Article 50 (2).

Experts say despite Cameron’s initial intention, the Government needs to spend a few weeks or months working out a plan and timetable for action.

What is certain, however, is that the process needs to be completed in good time within the current Parliament, so it does not get caught up in the General Election period.

A good time to press the start button would be December 31 2016, leading to a EU exit on January 1 2019.

This is because the EU budget runs for a calendar year so that date would avoid complications which would arise over the budget if the UK was an EU member for only part of the budget year.

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