Business Law and Ethics Assignment Sample

Introduction

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The presented report will state the relevance of the fact that the United Kingdom has left the UK and got the freedom to make its laws, post the Brexit transition period. Some facts will be identified regarding the abovementioned statement and with the help of those facts, the statement can be presented as truth or imaginary. The main aim of this report is to identify the relevance of the given statement that is regarding the UK and its freedom.

Main Body

It is identified that the UK has left the European Union. It was analyzed that the UK has breached its membership with EU at the midnight on Friday in Brussels. EU is the union that contains 27 member states that are majorly located in Europe. The estimated population of this union is 447 million. In all these states unitary standardized laws and rules are implemented. On 17 October 2019, the prime minister of the UK named Boris Johnson, and the president of the European Commission announced the revised agreement that was the Brexit deal and which includes the UK EU withdrawal agreement. Politician declaration for future relationships was also described. That revised Brexit deal was permitted by the UK parliament and attained royal assent and was approved by the European parliament. On 31 January 2020, the UK officially left the membership of the EU. (Bloom, N., et al, 2019)

European Union is an economic and political partnership that consists of 27 member countries. It provides a single market under that free movement of goods, services, and capital can be done. EU is also a customs union that is having external tariffs. Both the EU and UK have agreed to keep the things same until 31 December 2020 and provide a sufficient period for adopting the new trade deals. Many changes were done due to the separation of the UK from the EU. The new deal was made under which new trade rules, and work was mentioned, which was necessarily followed by UK and EU. The UK can freely trade goods and other things without paying any tax or amount limit when it was part of the EU. Many things would not change from 1st January but from this, no one can gain the advantage, both of them have to agree on some similar shared rules and standards that depend on worker's rights, and many social and environmental regulations. 

What is in the Brexit deal

The Brexit deal containing the freedom to work and the relationship between the UK and the EU has also come to an end. According to the Brexit deal citizens of the UK required a visa if they want to reside in the EU for more than 90 days in the period of 180 days. Northern Ireland will continue to abide by various rules of the EU for avoiding the hardships of its border with the Republic of Ireland. The leaders of the EU and the UK proclaimed that they had decided on a trade deal called the trade and collaboration agreement. There are some rules under this as tariff and quota free trade in goods will last but other nontariff barriers will be implemented and enhanced the trading cost. Expert service suppliers would not have their identifications that are mechanically documented by each side anymore. The deal does not current the financial services regulations. Many other provisions require negotiation, interpretation, and clarification. 

Trade in goods

This deal described that craft between the UK and EU will not require to subjected with some rules or tariffs. According to these goods must be introduced or produced in the EU or UK to benefit from the free trade tax rules. The parties under this did not reach an agreement on knowing each other's values for products. It describes as some foodstuffs must attain two certifications under the both such as spreading and introducing regimes. But these necessities will consume extra cost and time that causes border delays and it can be challenging for agriculture and animal products and some industries also. 

Still, the TCA at least ignores the worst case situation which is a no deal Brexit. According to this if no contract had been settled by midnight on 31 Dec 2020. Then after this, all EU and UK trade would have rapidly changed regarding the rules and tariffs of the world trade organization. In this regard, the cost of farming products, cars, and other factory-made goods has significantly enhanced. 

Level playing field

The EU is in favor of implementing the mutual values for goods and facilities to safeguard a level playing ground for fair and open rivalry and the aim of the EU is to safeguard the business in one market from other challenging businesses. There are many regulations under the EU but most regulations are concerned with worker's rights, social and ecological protection, assessment, and state business grants. Under this gatherings are not bound to implement identical rules and regulations. The UK does not shadow EU law. Even the values of the UK must safeguard fair struggle. There is a rule under an agreement that stated as there should be only sensible levels of state aid or administration subsidies for occupational. According to this, the parties are not required to adopt similar instructions and regulations as they can implement distinct internal procedures to identify the elements that constitute unfair competition. (Rzepnikowska, A., 2019)

Fishing rights

It is an huge point of argument between the EU and the UK. politically fishing rights are very important for the UK, and also important in the EU. (Fetzer, T., 2019) In any deal, the issue is considered important for negotiations and the deal also reduced the EU angling rights in the UK, waters by 25%, and the reduction will also be implemented over a five and a half year changeover period. The angling period is short than the 14 years that was primarily proposed by the EU, but it was more than three years. 

Effects on individuals

there are many impacts on individuals as the loss of involuntary expert access, and free movement through the EU and UK, required visa supplies, some new responsibilities for travel and transfer between the UK and EU members states, and it also makes a major impact on various ordinary experiences and activities. The persons who are having passports are unable to EU entry lines at EU airports and borders. For long term stays visas will be required and it is for a period over 6 or 12 months. Immigration rules will also be implemented for individuals who are moving between the EU and UK. 

Dispute resolution

Under this agreement dispute resolution system is provided that is arbitration and that involves officials from both the parties. According to this if the arbitration panel identifies that one side breaching the contract and its rules then the other requires recompensing the complaining party. In this situation, if they refuse to or fail to do so then the complaining party is allowable to assume unilateral actions such as implementing tariffs. The regulations or tariffs do not have to be implemented on similar types of goods or services that are under dispute or agreement. (Schimmelfennig, F., 2018)

It is considered that the European court of fairness will have no role in dispute resolves except in north Ireland, which is a singular case. There is a demand for the UK as arbitrator rather than resolution by the ECJ. (Born, B., et al, 2019)

The transition period is a timeline period, that is started on 1 February 2020. The withdrawal agreement presents the exact transition period in part four. This transition period was reviewed on 31 December 2020. This period can be enhanced by up to one to two years. This kind of decision was taken by both EU and United Kingdom before 1 July 2020. The UK has no longer participated in the EU institutions, EU agencies, offices, or other bodies. Many obligations have been considered by the United Kingdom during the transition period. (Alabrese, E., et al, 2019.)

all foundations, bodies, workplaces, and organizations of the European Union keep on holding the powers presented to them by EU regulations corresponding to the United Kingdom and normal and lawful people living or laid out in the United Kingdom all through the progress period. The Court of Fairness of the European Union keeps on having purview terminated the United Kingdom during the progress time frame. This likewise applies to the translation and execution of the Withdrawal Agreement. The change in time frame gives the United Kingdom stretch to arrange its upcoming association with the EU. At long last, throughout the progress time frame, the United Kingdom can finish up nonviolent consensuses with third nations and worldwide relations even in areas of EU select skill, assumed that these arrangements don't make a difference during the change time frame. (Jørgensen, R.F. and Zuleta, L., 2020)

Conclusion

In this abovementioned report some contentions were made on the given fact that is it true that the United Kingdom has left the European commission and attained freedom. Some facts are also identified and mentioned in the report. According to the above stated facts and report it can be concluded that the UK has left the EU and obtained the freedom to make its laws and rules. So, from this report, it can be easily concluded that the UK has left the EU and enjoyed its freedom with some transition period.