From The Editor
Pound Drops as UK Votes to Leave EU
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FOLLOWING AN HISTORIC referendum on 23 June , the UK has voted to leave the European Union after 43 years .
Leave won by 52 % to 48 % with England and Wales voting strongly for Brexit , while London , Scotland and Northern Ireland backed staying in the EU .
Prime Minister David Cameron has said he will step down saying “ we should aim to have a new prime minister in place by the
start of the Conservative party conference in October ”.
UKIP leader Nigel Farage hailed the vote result as the UK ’ s “ independence day ” but the Remain camp called it a “ catastrophe ”.
The pound fell to its lowest level against the dollar since 1985 as the markets reacted to the results .
The referendum turnout was 71.8 % - with more than 30 million people voting - the highest turnout at a UK election since 1992 .
Some in the Leave camp acknowledged there would be a short-term “ blip ” in the markets but insist things will quickly return to normal .
There are already moves among the 450 or so MPs who want to stay in the EU , across the Labour , Conservative , SNP , Plaid Cymru and Green parties , to keep the UK in the single market in any exit negotiations . This would mean Britain would have to keep its borders open to EU workers and continue paying into EU coffers .
Germany ’ s foreign minister Frank Walter Steinmeier described the referendum result as as “ a sad day for Europe and Great Britain ”.
Britain will not immediately cease to be a member of the 28-nation block - that could take a minimum of two years , possibly 2020 - the date of the next scheduled general election . The prime minister will have to decide when to trigger Article 50 of the Lisbon Treaty , which would give the UK two years to negotiate its withdrawal .
The government will also have to negotiate its future trading relationship with the EU and fix trade deals with non-EU countries .
In Whitehall and Westminster , there will now begin the massive task of unhitching the UK from more than 40 years of EU law , deciding which directives and regulations to keep , amend or ditch .
BREXIT : EUROPE ’ S MARKETS WILL REMAIN IMPORTANT TO BRITAIN ’ S FARMERS - NFU
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FOLLOWING THE referendum results , in a statement NFU President Meurig Raymond said : “ The vote to leave the European Union will inevitably lead to a period of uncertainty in a number of areas that are of vital importance to Britain ’ s farmers .
“ The NFU will engage fully and constructively with the British government to construct new arrangements . This needs to happen as soon as possible .
“ Our members will rightly want to know the impact on their businesses as a matter of urgency . We understand that the negotiations will take some time to deliver but it is vital that there is early commitment to
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ensure British farming is not disadvantaged . It is vital that British farming is profitable and remains competitive , it is the bedrock of the food industry – Britain ’ s largest manufacturing sector .
“ The NFU has called an extraordinary meeting of NFU Council , its governing body , for Friday July 1 2016 .”
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THE NFU ’ S PRINCIPLES WILL BE :
To achieve the best possible access Europe ’ s markets , which will remain extremely important to Britain ’ s farmers .
To get access to markets in the rest of the world , while ensuring we are protected from imports which are produced to lower standards .
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To ensure our farmers and growers can get the necessary supplies of labour , both seasonal and full-time .
‘ a period of uncertainty ’
To build a British agricultural policy which is as simple as possible , adapted to our needs and guarantees parity of treatment with European farmers , who will still be our principal competitors . There must be a common framework of a British policy , while allowing a necessary degree of flexibility to devolved governments .
Regulations and product approvals must be proportionate and based on risk and science .
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4 Jun / Jul 2016 www . farmers-mart . co . uk