Brexit implications – ‘Don’t panic!’
Back in April, we published an article on the potential employment law implications of Brexit on employers. Now that the vote has been cast and the country is gripped by a cocktail of joy, panic, fear and confusion, it seems more important than ever to bear in mind that absolutely nothing has changed at the moment. I am sure that the majority of people are weary of claim and counterclaim, arguments and denials about what may or may not happen, but the only thing we can be certain of at the moment is that nothing is certain.
The Chinese may wish that you live in interesting times, but rather than indulge in aphorisms I’d rather look to Corporal Jones of Dad’s Army fame for comfort.
For the time being, with both the government and the opposition in the throes of seismic leadership upheavals, there are unlikely to be any major legislative developments as it is not entirely clear who is running the country.
It also seems unlikely that the government will take any steps to repeal EU-inspired employment legislation before the Article 50 Notice under the Treaty of Lisbon is given to the EU and that does not seem likely to happen until, at the very earliest, a new Conservative leader is in post. That looks like being no earlier than the middle of September and it is becoming increasingly clear that the timing of the Article 50 Notice is becoming a major bargaining chip in the UK’s exit from the European Union.
In the immediate future, bigger risks are posed to business in the shape of Stock Market volatility, the value of the pound and potential effect on interest rates. This will be matters likely to impact business in the coming weeks and months rather than any radical change to employment law.
We are, of course, as a Firm, available to advise and assist with any particular issues that may arise. If you have any queries or concerns regarding employment law, please do pick up the telephone or email me if we can help you in any way.