The United Kingdom’s departure from the European Union, also known as “Brexit,” has had a significant impact on different aspects of the country’s economy. One of the most significant changes in the legal system as a result of Brexit is its influence on the UK law. The phenomenon has led to a fundamental restructuring of the country’s legal framework, creating implications that will affect different areas of UK law.
One of the most significant implications of Brexit on UK law is the loss of its harmonisation with EU law. EU law has had a considerable influence on the development of UK law, as a significant part of the country’s law system came from Europe. Besides, EU law served as an instrument of standardisation, ensuring that different areas of UK law were consistent with the laws of the European Union. With Brexit in place, the United Kingdom will have to develop its own rules and regulations.
Another significant implication of Brexit on UK law is jurisdiction. Before Brexit, UK courts faced a considerable number of cases that dealt with the interpretation and application of EU law. The United Kingdom was also a party to the European Court of Justice, which was the supreme court in the EU’s legal system. However, with Brexit, the United Kingdom will no longer be a party to the European Court of Justice. The UK will have to create its own mechanism for resolving legal disputes, which may be more costly in terms of time and resources.
Brexit’s impact on the human rights framework in the United Kingdom has also been significant in terms of implications on UK law. The European Convention on Human Rights was also embraced by the United Kingdom as part of the EU’s legal system. With Brexit in place, the UK no longer has an obligation to align its laws with the Convention. This may have implications on civil liberties, immigration policies, and other areas of the country’s legal framework.
Brexit has also created implications on the financial services sector in the United Kingdom. For instance, EU- based financial service providers may no longer be able to operate within the UK without complying with the country’s regulatory rules. The United Kingdom has also lost the benefits that came from being part of the EU’s financial regulatory framework, which may lead to a loss of business opportunities in the financial sector.
In conclusion, Brexit has had significant implications on UK law, which have affected different areas of the country’s legal framework. The UK will have to create its own set of rules and regulations and establish new mechanisms for resolving legal disputes. The United Kingdom will also lose its harmonisation with EU law, which may lead to inconsistencies in the legal framework. Although it is still unclear what the full effects of Brexit would be, it is clear that it will continue to reshape the UK’s legal framework for years to come.