Megxit is the term used to describe the announcement by the Duke and Duchess of Sussex that they will be stepping back as senior royals and work to become financially independent. Prince Harry and his wife Meghan released a statement saying that they wanted to split their time between the UK and North America whilst still honouring their duties to the Queen. The media and the general public, mainly via Twitter have coined this phrase as Megxit - aka Meghan (and Harry) Exit (from the Royal Family).