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With the election success of the Conservative Party in the UK in the recent general election, the new UK government is committed to holding a referendum on EU membership following negotiations between the UK and the EU on key issues of concern to the UK government. While the outcome of these negotiations and the possible referendum are uncertain, a number of scenarios for the future relationship between the UK and the EU can be identified. These include situations in which the UK remains in a reformed EU and situations where it leaves. In the latter case, further sets of possibilities exist which differ in terms of the extent to which current arrangements with respect to free trade, for example, are maintained or dismantled.