Brexit plans will have to untangle over 19,000 EU rules affecting businesses
19,000
As Brexit negotiations roll on, a report from the Confederation of British Industry warns that the UK could inadvertently make some businesses illegal overnight.
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The business lobby group, representing 190,000 companies in Britain, says the UK deciding which of 19,000 EU rules it will and won’t adopt is a dangerous game.
For example, dropping the EU’s Clinical Trials Regulation could hamper the UK’s pharmaceutical industry, requiring multiple trials for one product—but splitting it between Britain and Europe.
Moreover, some UK products could be deemed illegal for sale in the EU if they don’t adhere to the bloc’s standards.
Since 1972, the UK has followed EU laws. Reverting to a system predating that era is “one of the largest legislative projects ever undertaken in the UK,” says the House of Commons.
Performance of British pound since Brexit referendum
