On 23 June 2016, the United Kingdom voted to leave the EU. Although the nature of the relationship between the UK and the EU post-Brexit is impossible to predict, we continue to represent the interests of our membership in European policy development. With around 60 % of PRS' international income being returned from the EU, we have and will continue to have significant business dealings with the EU even when the UK is no longer a member state.
What is PRS for Music doing?
The Policy and Public Affairs team continues to work closely with government, parliament and regulators to make sure that the needs of our songwriter, composer and publisher members are heard and understood, but also that the market needs of licensees are taken in to account.
In the immediate term, we believe the best thing for business is legal certainty so the framework remains unchanged.
While the UK government cannot formally begin the negotiation of new free trade agreements (FTA) until the UK has left the EU, the Department for Exiting the European Union (DExEU) and the Department for International Trade (DIT) are working to establish a model framework for when that time does come.
The government is also working on a plan to establish and implement an Industrial Strategy to help set the conditions of future economic growth. Through UK Music, we have fed into this process.