What is the difference between soft and hard Brexit?
Soft Brexit and hard Brexit relates to how close the United Kingdom’s relationship with the European Union is after Brexit. Soft Brexit involves trying to keep a close relationship with the European Union. When Soft Brexit is spoken of it relates to where the United Kingdom stays within the EU’s Single Market by becoming a member of the European Economic Area (EEA), or in the European Customs Union. There is also the option of being in both the European Economic Area and the European Customs Union. If this were to occur, there would be a small term impact on the United Kingdom’s economy. But by staying in the single market, the United Kingdom would still have to continue to uphold free movement of European Union citizens in the United Kingdom; the United Kingdom do still have to subsidise towards the budget of the European Union. Moreover, if the United Kingdom were to stay with the European Customs Union they would be able to take advantage gain from any trade agreements retained by the European Union, they would not be able to arrange trade deals with other countries and any deals and agreements that have been taken on by the European Union after Brexit would be negotiated without the United Kingdom’s contribution.