Missing the deadline, EU citizens will get 28-day notice for UK residency

European Union citizens will be given a formal 28-day notice if they fail to apply for settled status in Britain in what the government bills as its pragmatic approach to a post-Brexit immigration system that some users say is difficult to navigate.

 

Since completing its exit from the EU late last year, Britain is bringing in a new immigration system, ending the priority for citizens from the bloc over people from elsewhere to meet pledged made during the 2016 Brexit referendum. Around 5.6 million EU citizens have applied for residency rights in Britain before the June 30 deadline, but officials are concerned that without firm figures for how many nationals from the bloc live in the country, some may fail to apply. "The UK's approach is very generous. Our EU settlement scheme has been open for more than two years.

 

Many EU countries have an application window of 12 months or less; France's is currently open for less than nine months," interior minister Priti Patel wrote in the Telegraph newspaper.

 

5 years on, UK bulls are still shaking off Brexit turmoil

 

This day in 2016, Britain’s vote to leave the EU sent tremors across financial markets. Five years and a global health crisis later, UK assets are still trying to fully recover from the impact. In these 1,826 days, the UK has seen its third prime minister, the divorce from the EU has happened and a pandemic-ravaged nation has reversed its decade-long policy of fiscal austerity. All that combined has taken its toll on the pound, UK stocks and bond markets.

 

The currency is still 6 per cent lower than it was on the day of the vote. Equities have underperformed their peers in the euro-area and the US Valuations have tumbled 17 per cent since 2016 and benchmark gilt yields remain near lows reached during the post-referendum risk-off rush. 

 

UK assets have plenty going for them this year. The Bank of England has used bond purchases to ward off any threat of a credit crisis. The government has unleashed a massive spending plan to lift the economy out of the pandemic effects.