Following the acceptance of article 50 there will be two years of intense negotiation to finalise agreements over:
Following the acceptance of article 50 there will be two years of intense negotiation to finalise agreements over:
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- current UK and EU nationals living in each other's territories
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* current UK and EU nationals living in each other's territories
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- financial liabilities and responsibilities to each other
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* financial liabilities and responsibilities to each other
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- trade and legal agreements
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* trade and legal agreements
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If this is not completed within two years then it is likely that WTO rules would apply to any future trade unless all EU member nations agree to extending the negotiating period by up to one year.
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If this is not completed within two years then it is likely that [[World Trade Organization]] rules would apply to any future trade unless all EU member nations agree to extending the negotiating period by up to one year.
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The main concerns of the British government is to ensure access to the single market for its banking and manufacturing sectors - both major income streams for the UK. Along with this the UK business sector are very concerned about the potential loss of EU (especially Eastern European) labour for many agricultural and low paid roles.
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The main concerns of the British government is to ensure access to the single market for its banking and manufacturing sectors - both major income streams for the UK. Along with this the UK business sector are very concerned about the potential loss of EU (especially Eastern European) labour for many agricultural and low paid roles.