Why the UK Should Avoid a No Deal Brexit Scenario at All Costs (Essay Sample)

WHY THE UK SHOULD AVOID A NO-DEAL BREXIT AT ALL COSTS
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Why the UK Should avoid a no Deal Brexit Scenario at all Costs
On 29 March 2017, the UK officially informed the EU of its intention to withdraw its membership based on Article 50 of the EU Treaty. The UK had four possible options: exit based on a negotiated agreement, exit without any deal, ask for an extension based on Article 50, or unilaterally revoke its Article 50 (Wolf, 2019, p. 2). 
The first part of this study discusses the impact of a no-deal Brexit on the EU, and the last part has a conclusion from the study.
What happens under a no-deal?
* Social and Labour Standards
Morris (2019, p. 17) discloses that most social and labour standards will remain unchanged on the first day of a no-deal Brexit. But some areas of the legislation, including social security coordination and European Works Councils, will have some changes. After day one, the United Kingdom (UK) will have the ability to weaken or repeal the current social and labour standards that have been derived from labour laws. Because most of the UK's social and labour laws are underpinned by EU law, ranging from parental rights and equal treatment to safety and occupational health and working time, a no-deal will pose a significant risk to the current level of social and labour protections in the country.  
* Relations with the EU
Wolf (2019, p 4) says that a no-deal will severe trade relations with the EU. For instance, in 2017, the EU exported services worth £81 billion and goods worth £259 billion to the UK. German individually exported services worth £9 billion and goods worth of £69 billion. No matter the type of deal, this trade will be affected. In the case of a no-deal, there will be no transition and that will necessitate the immediate application of regulatory and custom controls. Also, in a no-deal agreement, the EU and the UK will not agree on how the trading agreement could progress; this will be worse than a deal scenario, which would include a political agreement setting out a trading relationship with an ambitious goal. Irish Congress of Trade Unions (2019, p.8) says that a no-deal Brexit will create barriers for North Ireland goods being exported to Ireland and the entire EU.