The Brexit vote inevitably ushers in a period of uncertainty for businesses across the UK, and the construction industry is no different. We have put together a briefing that looks at the possible exit models and what practical impact the referendum result will have on construction and procurement law.
It’s currently very uncertain as to what will happen next but we hope to be able to give some confidence as to what the leave vote means for bidders, contractors, employers, and construction practitioners across the country.
Before the UK can leave the EU it first needs to negotiate the terms of its exit. This is often referred to as the transitional period and is expected to last for a minimum of two years (under the terms of the Lisbon Treaty). During this time the UK will still be subject to EU law and will be legally bound by the EU treaties. There are numerous iterations of a possible exit model – which we explore in more detail in our briefing, as well as the impact of the leave vote on some EU regulations.
Some EU-based rules and regulations will likely substantively continue in force, in some form or another, after the UK exits the EU. The short term outlook in respect of applicability of EU law is relatively secure. The medium to long term is less certain.
Click here to read our full briefing where we look at the effects on regulatory obligations, public procurement, competition law and contract law.