On 24 December, the European Commission and the UK Government announced that a trade agreement had been reached. You can read the agreement on the Gov.UK website here, which includes a summary explainer.
The European Commission held a press conference on 24 December hosted by Commission President Ursula von der Leyen and Chief Negotiator Michel Barnier, you can read the press release here. At the conference:
- Von Der Leyen said it was a fair and balanced deal and said they were well prepared for Brexit, with €5bn budgeted to help business affected.
- The EU rules and standards will be protected as well effective tools to respond to changing regulations if necessary. They will continue to work with the UK on issues such as climate change, energy, security, and transport.
- Barnier mentioned that there would be real changes as of the 1 January for many people and businesses, but that this new agreement founded a new relationship.
- He said that the level of mobility between the UK and EU states would not be what it had been. He mentioned the UK had decided not to participate in ERASMUS, the European Community Action Scheme for the Mobility of University Students allowing free movement and education exchange between registered universities and institutions for eligible students.
The Prime Minister Boris Johnson held a UK press conference on 24 December after the European Commission’s and you can read his statement here. At the conference:
- The PM described the deal as being a Canada style free trade deal worth £660bn a year. It will allow UK goods to be sold without tariffs and quotas in the EU.
- From 1 January we will be outside the customs union and single market. He highlighted the end of the jurisdiction of the European Court of Justice, and the ability to set our own standards.
- The PM said the deal means certainty for the aviation industry, border force, business, and security services. He noted this would allow the UK to become leaders in science and allow for collaboration around the world. He described it as allowing for a ‘giant free trade zone’ of which we will be a member but also allow us to make independent free trade agreements (there are over 60 deals so far including this one).
- Johnson was further asked about ERASMUS, he said that they are producing a UK scheme (named the Turing Scheme) to allow students to travel and study at universities around the world.
What happens next:
- Ambassadors from the 27 EU member states have provisionally approved the EU-UK post-Brexit trade deal, paving the way for it to take effect. The EU Parliament will vote on it in the New Year.
- MPs will be recalled to Parliament tomorrow, Wednesday 30 December, to vote on the legislation to ratify the deal.