No-Deal Brexit looking more and more likely

As part of the Withdrawal Agreement, the EU and UK entered into a transition period that will end on 31 December 2020 during which both sides will attempt to thrash out a future trade deal. However, the UK Government has until the 30 June 2020 to request an extension of the transition period should it seem unlikely that a such a deal would be sewn-up in time.

Clearly this arrangement was made pre-Covid-19, which has taken a tremendous toll on the economies of several EU countries as well as that of the UK and makes a deal before the end of the year unlikely.

Nonetheless, the UK Government as announced that it does not intend to seek an extension before 30 June, which effectively places a No-Deal Brexit firmly back on the table.