The UK High Court yesterday gave a shocking ruling on the invocation of Article 50 Treaty on European Union and the Treaty on the Functioning of the European Union (TFEU). For those of you that were part of UK’s referendum a couple of months ago, it is clear that the decision to leave the EU is turning out to be quite a fiasco.
What is Article 50 TFEU?
Article 50 commences the divorce proceedings of the UK from the EU.
In a ruling yesterday by the UK High Court, it was held that the UK government cannot use its prerogative powers to invoke Article 50 of the TFEU. This is significant and means that the decision to Brexit must be approved by the UK Parliament as a whole. So, in other words, the Prime Minister cannot invoke Article 50 without approval of both the House of Commons and the House of Lords. The significance of this ruling is that it has upheld Parliamentary supremacy. The Government is set to appeal the High Court’s decision to the UK Supreme Court.
The saga continues…
This new ruling adds to the anxiety of families not knowing what to do or businesses not knowing where to invest. When will Britain ever exit the EU and on what terms? Only time will tell….