United Kingdom exit from the European Union
The exit of the United Kingdom from the European Union, also known as Brexit, refers to official plans and progress for the country to leave the international political and trading union comprising 28 member states across Europe. On 23rd June 2016, voters in a UK-wide referendum opted to leave the EU,[1] triggering proposals to disentangle the UK's laws and international agreements from the wider bloc. The vote led the then-UK Prime Minister, David Cameron, to notify the nation of his intention to step down following an interim period prior to the election of a new leader of his Conservative Party, who would also replace him as premier.[2] His successor, Theresa May, is expected to formally initiate the process to leave the EU.
The initial response to the referendum result on 24th June comprised a significant downturn in global stock markets,[3] a signal from the First Minister of Scotland, Nicola Sturgeon, that her Scottish National Party would seek a second referendum on the nation leaving the UK, and various comments from national and international organisations on stabilising the markets and respecting the referendum result in an orderly way.
The weekend of 25th-26th June saw further political upheaval. On Saturday, the UK member of the European Commission, Lord Hill, resigned his seat.[4] The Shadow Foreign Secretary, Hilary Benn, was sacked at midnight by the Leader of the Opposition, Jeremy Corbyn, for questioning his leadership of the Labour Party's 'remain' campaign after it emerged that many Labour-supporting areas had strongly-backed Brexit. During Sunday, a series of senior Opposition figures resigned amid calls for Corbyn to step down. Meanwhile, the Scottish First Minister suggested that the Scottish Parliament might block UK withdrawal,[5] and a petition on the UK government website for a second referendum on EU membership reached over three million signatories. (This petition had originally been started by a 'leave' supporter on the assumption of a 'remain' verdict.)[6] The Liberal Democrats announced a new policy of re-entering the EU.[7] In business news, the banking group HSBC indicated that some staff would be moved from London to Paris if the UK left the EU's single market.[8]
The week beginning 27th June opened with further falls on global stock markets, but speeches by the UK finance minister, George Osborne, and statements by the Prime Minister to the House of Commons sought to calm fears and by the end of the week, stocks had regained most of their lost ground. Resignations continued from the Labour Opposition team, with the majority of senior figures departing, and a confidence vote on Jeremy Corbyn's leadership was called for 28th June. This vote went against Corbyn by 172 votes to 40, but he remained leader. In the Conservative leadership contest, Boris Johnson surprised observers by withdrawing from the race, citing lack of support following the sudden entry of his fellow 'leave' campaigner Michael Gove into the race. Four other candidates also put themselves forward, with Home Secretary Theresa May rapidly becoming the front-runner. Meanwhile, the Scottish First Minister, Nicola Sturgeon, held talks with European leaders on securing Scotland's relationship with the EU, but no firm plans were agreed.
By 7th July, the final two candidates for the leadership of the Conservative Party were decided after two ballots of MPs: Theresa May and Andrea Leadsom, the Energy Minister. Leadsom came in for some criticism after appearing to suggest that motherhood made her a better candidate for the office of Prime Minister than May, who did not have children. On 11th July, Leadsom withdrew from the contest, leaving May the only remaining candidate. She was duly elected leader of the party and is expected to become Prime Minister on 13th July.[9] Meanwhile, Angela Eagle announced that she would challenge Jeremy Corbyn for the leadership of the Labour Party.
On 13th July, Theresa May replaced David Cameron as Prime Minister.
Footnotes
- ↑ BBC News: 'EU Referendum Results'. 24th June 2016.
- ↑ BBC News: 'Brexit: David Cameron to quit after UK votes to leave EU'. 24th June 2016.
- ↑ BBC News: 'Pound plunges after Leave vote'. 24th June 2016.
- ↑ Daily Telegraph: 'Britain's EU Commissioner Lord Hill quits after Brexit vote - as experts warn City could suffer'. 25th June 2016.
- ↑ BBC News: 'Nicola Sturgeon says MSPs at Holyrood could veto Brexit'. 26th June 2016.
- ↑ Huffington Post: 'Second EU Referendum Petition Started By Leave Voter William Oliver Healey'. 26th June 2016.
- ↑ Guardian: 'Lib Dems to pledge British return to EU in next general election'. 26th June 2016.
- ↑ BBC News: 'HSBC 'to move jobs to Paris if UK leaves single market''. 26th June 2016.
- ↑ BBC News: 'Theresa May 'honoured and humbled' to be Tory leader and UK PM'. 11th July 2016.