The Retained EU Law (REUL) Bill will sunset (end) all EU-derived secondary legislation by the end of 2023 unless an active decision is taken by the government to retain or reform each affected regulation. There are around 4,000 pieces of retained EU law which govern every part of the economy, including employment rights, intellectual property, health and safety, and the environment. Each individual piece of legislation will need to be reviewed by the end of this year. It is that combination of the broad scope – but also the aggressive timetable – that is causing huge uncertainty for business.
The CBI has just completed its Q1 governance round and in doing so has discussed the impact of the REUL Bill with over 800 companies across every size, sector, and region within the UK economy. Below are the key themes that have emerged from that consultation: