Assuming that European Union, a 28-nation pact of European countries excluding United Kingdom would not budge over United Kingdom’s new leader Boris Johnson’s urge on a Brexit renegotiation, British government had been ramping up preparations for a no-deal Brexit, which would likely to end up in a Canada-plus type divorce deal, analysts suggested.
Aside from that, adding that the world’s fifth-largest economy by nominal GDP and fourth-largest by purchasing power parity, United Kingdom had been bolstering efforts to prepare the nation to leave EU bloc by October 31st without an agreement, senior Conservative lawmakers of UK parliament had been quoted saying that Britain had sufficient resource to spare in order to revamp the nation’s economy for a no-deal Brexit.
Meanwhile, adding that planning for a no-deal Brexit has been UK Government’s No. 1 priority, a leading Brexit supporter and a conservative lawmaker, Michael Gove, Chancellor of the Duchy of Lancaster since July 2019, who had been put on charge to oversee a no-deal Brexit preparation, wrote in the Sunday Times Newspaper on July 28th, “We still hope they will change their minds, but we must operate on the assumption that they will not ... No deal is now a very real prospect and we must make sure that we are ready. ”