The European Union (Notification of Withdrawal) Bill was introduced to allow Theresa May the authority to formally trigger Article 50 by the end of March.
Following the backing of the Bill in the House of Commons, the government has set out its objectives for leaving the European Union.
Here is a round-up of the top Brexit-related stories this week.
OBJECTIVES SET OUT FOR LEAVING EU
The government has set out 12 objectives to negotiate the process of leaving the EU in a policy White Paper.
Some of those objectives include:
- rights for EU nationals and British nationals
- protecting workers rights.
Theresa May also highlighted the country’s position in the Customs Union as something that prevents the full negotiation of trade deals.
EXPORTING KEY FOR BUSINESSES
Businesses remain committed to building relationships with EU customers and suppliers.
Around 1,500 firms surveyed by the British Chambers of Commerce (BCC) found that 76% and 73% respectively sell and source goods in the EU market.
36% are also planning to put more resources into exporting while 18% are allocating funds to sourcing products from the EU.
Dr Adam Marshall, director general of the BCC, said:
“Looking ahead, businesses want the best possible terms of trade following the Brexit negotiations, whatever the ultimate model adopted.”
INTEREST RATES REMAIN AT 0.25%
The Bank of England has held interest rates at 0.25% while plans to maintain government bond purchases will continue at £435 billion. Corporate bond purchases have also gone up to £10 billion.