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Post the Brexit decision, things are changing every day, as things develop we are issuing updates and sharing our thinking to help you understand how the changes may affect you, your employees, your business, and your future plans.
Public procurement is one of the areas of UK law most exposed to the consequences of the UK’s decision to leave the EU. The present UK regulations, principally found in the Public Contracts Regulations 2015, the Utilities Regulations 2016 and related regulations, are the implementation into UK law of a series of EU directives.
In the pre-23 June 2016 world of certainty, stability and legislative timetabling, British businesses knew that, so far as their data protection obligations were concerned, they would have a couple of years to comply with the requirements of the new EU General Data Protection Regulation (GDPR), which was adopted in April this year and takes effect from 25 May 2018.
Unionised UK businesses will wonder what the future holds for UK unions if, as expected, the UK exits the EU and its relatively socialist model of employment relations. UK trade unions have for decades made good use of the EU to help promote an agenda in favour of workers way beyond anything that may have occurred in the UK otherwise.
Across the UK many businesses, large and small, are troubled by what the next few years might mean for the UK economy. This anxiety feeds into employee engagement and industrial relations. Brexit is likely in the short term at least to lead to reduced investment, cut backs, closures, and corporate relocations away from the UK.
We now have the results of the EU Referendum confirmed: the UK has voted to leave the EU, by 52% to 48%. In the immediate, sterling has tumbled and the stock markets have plummeted. The question now is what impact this will have on the construction industry.
As immediate political and economic shockwaves of the referendum result pass in days to come, and the UK begins to adjust to a different future, there are few certainties about how the legal and financial frameworks will ultimately be affected. It is impossible to predict long term legal changes as so much turns on the nature of the UK's relationship with the EU after negotiations.