High Court ruling, Article 50: “The prudent course of action is to continue to prepare for Brexit as before”, says KPMG

High Court ruling: continue brexit preparations

Commenting on today’s High Court ruling on invoking Article 50, Mark Essex, Director of Public Policy at KPMG in the UK, said:

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“The High Court has said today that government does not have the power to invoke Article 50 and withdraw from the European Union without reference to Parliament, meaning that both the Houses of Commons and the Lords will have the right to vote on it.

“There are likely to be many legal and political twists and turns before any final decision is made on this.  Today’s ruling was always going to be provisional – and the Government have already said they will appeal.  A hearing has been set for early December.

“In practice what does this mean for businesses?  For our clients, the prudent course of action is to continue to prepare for Brexit as they have been.  Today’s ruling, on its own, does not constitute a rejection of either the referendum result itself nor the Government’s proposed timing to trigger Article 50 by the end of March next year.  We will be keeping a close eye on legal and political developments - in particular the outcome of the hearing in December - but what we are saying to clients right now is that the safest course of action is to carry on scenario planning and modelling what life might look like outside the EU, as before.

ENDS

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Notes to Editors:

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

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