What Is In Brexit Agreement

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In the end, Mrs May`s agreement was rejected and the “backstop” was replaced by the Northern Ireland Protocol. The transition period is not extended. The United Kingdom has stated that it does not want an extension. The option of an extension was included in the withdrawal agreement. The UK and the EU have had until 1 July 2020 to agree on a possible extension. The UK and THE EU are negotiating a trade deal that is expected to start on 1 January 2021, when the new UK-EU relationship will begin. If no agreement is reached by December 31, many imports and exports will be billed, which could drive up prices for businesses and consumers. The reception of the agreement in the House of Commons ranged from cold to hostile, and the vote was delayed by more than a month. Prime Minister May has received a motion of no confidence within her own party, but the EU has refused to accept further changes. Free trade agreement: The EU and the UK want to agree on this – a country-to-country agreement that encourages trade by removing barriers such as goods taxes. The amendments fit about 5% of the text.

[22] On 22 October 2019, the House of Commons agreed, by 329 votes to 299, to give a second reading to the revised withdrawal agreement (negotiated by Boris Johnson earlier this month) but, when the accelerated timetable it had proposed did not receive the necessary parliamentary support, Johnson announced that the legislation would be overturned. [38] [12] New relations between the EU and the UK begin, provided an agreement has been reached, approved by THE EU Member States, the European Parliament and the British Parliament. The agreement also provides for a transitional period, which will last until 31 December 2020 and can be extended by mutual agreement. During the transitional period, EU legislation will continue to apply to the UK (including participation in the European Economic Area, the internal market and the customs union) and the UK will continue to contribute to the EU budget, but the UK will not be represented in EU decision-making bodies. The transition period will give businesses time to adapt to the new situation and the new era, so that the British and European governments can negotiate a new trade agreement between the EU and the UK. [17] [18] After Brexit, the UK will leave the Common Agricultural Policy (CAP) [275], which provides public aid to EU farmers. [276] The United Kingdom receives far less than it contributes. [276] Brexit allows the UK to develop its own agricultural policy. [277] The current UK government has committed to maintaining the same payments to farmers until the end of the current parliament, even without a withdrawal agreement. [275] The Agriculture Act aims to replace the CAP with a new system. [277] The United Kingdom will also leave the Common Fisheries Policy (CFP),[278] which allows all EU countries to fish within 12 nautical miles of British shores[279] and allow the EU to set fishing quotas. [280] EU fishing fleets total about six million tonnes of fish per year[281] about half of which comes from British waters.

[282] The exit of the CFP would allow the United Kingdom to develop its own fisheries policy. [280] The United Kingdom will also leave the London Convention on Fisheries, which fishes Irish, French, Belgian, Dutch and German vessels six nautical miles from the British coast. [283] Time expires on December 31 – what happens now? The UK government and the other 27 EU member states approve the draft agreement.