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Good luck getting this past the Labour government. They are firmly rooted to remaining (excuse the pun) outside the EU. This is even before you attempt to get it past Conservative opposition or fringe party Reform nutters.
If the party in power isn’t going to champion this then it’s an instant no go.
TBH I hope the EU rejects them if they do apply.
As a British citizen, I hope that they are accepted, without any of the special concessions Thatcher handbagged out of Delors, and with the proviso that they adopt the Euro and enter the Schengen zone.