Whatever is the eventual outcome, unless the decision to leave the EU itself is reversed, businesses will need to prepare for a different trading environment post Brexit. The current deal negotiated by Boris Johnson, and in particular the nature of the future relationship as framed by the political declaration, will mean a more distant relationship with the EU, outside the Single Market and Customs Union, bringing us in effect closer to a “hard Brexit” situation.
At this stage it is worth a reminder that the results of the referendum didn’t change the law in itself, and this will be the position until exit: European law and European courts still have primacy over UK laws and courts, so we are still bound by their decisions and remain a full member of the EU. We have recently elected members to the European Parliament, and are still obliged to contribute to the budget as well as entitled to benefit from grants and funding. We still benefit from, and are subject to, the four “fundamental” freedoms – including most notably the free movement of people, which gives EU citizens the right to travel to, live and work in any other EU country.