Brexit

Brexit is a portmanteau of “British exit” that refers to the UK’s withdrawal from the European Union, ending 47 years of membership. It was triggered by a national referendum that took place in 2016, in which 52 per cent of voters elected to leave. Four years of negotiations over the two parties’ future relationship followed, during which time political wrangling in the UK continued and proved deeply divisive. Though trade deal negotiations continued to within days of the scheduled end of the transition period on December 31, 2020, Britain formally left the EU on January 31, 2020.