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Published: Thu, March 30, 2017
Economy | By Melissa Porter

United Kingdom to trigger Brexit on March 29

United Kingdom to trigger Brexit on March 29

"As responsible businesses, at this stage we simply can not rule out a cliff-edge scenario for Brexit and aviation", ACI Europe Director General Olivier Jankovec said in a statement.

The government has indicated that Britain could make contributions to the European Union budget to ensure trade access.

"Next Wednesday, the government will deliver on that decision and formally start the process by triggering Article 50", he said. Exiting EU has been one of the most crucial decision for United kingdom because it will directly affect the economy of the country, its students and people studying and working in other EU related countries and trade activities if it would be smooth and free as earlier it was when United kingdom was part of EU.

Chief Brexit minister, David Davis, whose official title is Secretary of State for Exiting the European Union - more dramatically said: "We are on the threshold of the most important negotiation for this country for a generation".

The article stipulates that the two sides will have until March 2019 to agree on a divorce settlement and - if possible - establish a new relationship between Britain, the world's No. 5 economy, and the European Union, a vast single market containing 500 million people.

The EU has been impatient for the Government to trigger Brexit since the referendum.

The Prime Minister is expected to make a statement to the House of Commons tomorrow (22 March) setting out her aims. A Downing Street spokesman said UK Ambassador to the EU Sir Tim Barrow had informed the President's office of May's intention verbally. There was no further detail about exactly what the letter would say at this point.

European leaders have also been clear that Britain cannot get a better deal outside the EU than it had inside, amid fears that Brexit could cause other nations to leave the bloc.

A country will cease to be a member of the EU two years after the triggering of Article 50 unless it reaches an agreement with the European Council to extend that period.

As a result, the exact process for negotiating the UK's exit over the next two years is not wholly clear.

"She has chosen the hardest and most divisive form of Brexit, choosing to take us out of the single market before she has even tried to negotiate".

Farron accused the "Leave" campaign in last year's referendum of failing to provide a detailed prospectus of Britain's future relationship with the rest of the world.

May has rejected such an idea, saying "now is not the time", but the issue is unlikely to go away considering that Scotland voted 62% to 38% to remain within the European Union and feels it is being withdrawn against its will.

Almost two-thirds (63%) of small firms wanted to remain in the single market when surveyed by the FSB in the Autumn, before May confirmed the United Kingdom would pull out to get full control over immigration. "Therefore we must do everything we can to make the process of divorce the least painful for the European Union".

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