EU and UK reach historic Brexit deal.
UK PM confirns deal done. Single Market welcome EU chief :Trade deal was tough. Brexit deal agreed.EU agreed Brexit post trade talks. Prime Minister promised the deal will allow companies “to do even more business with our European friends” while “taking back control of our laws and our destiny”. Further “We have taken back control of every jot and tittle of our regulation in a way that is complete and unfettered,” he said.
An interesting aspects with resounding EU market with no tariff to UK business is ease of trade two entities.
Trade deal between the UK and the EU has been struck just days before the deadline.
The treaty comes in force from from 1 January 2021 and take over from the arrangements under the transition period, which the UK continue to follow most EU rules since Brexit day.
MPs and peers to be in session of the parliament on 30 December to ratify the treaty. Single Market to be to UK with equal terms . Goods and components can be sold without tariffs and quotas in the EU market.
Will allow the share of fish in British waters that the UK can catch to rise from around half now to two-thirds by the end of the five-and-a-half year transition.
Allegations of unfair competition will be judged by an independent third-party arbitration panel with the possibility of a “proportionate” response.
On financial services, a vitally important sector to the UK, Mr Johnson conceded he had not got all he wanted.
Boris Johnson proudly announced in brief for the first time since 1973 the UK “will be an independent coastal state with full control of our waters”, with the UK’s share of fish in its waters rising “substantially from roughly half today to closer to two-thirds in five-and-a-half years’ time”.
Sovereign intact yet with EU, “This country will remain culturally, emotionally, historically, strategically, geologically attached to Europe,” he added.
Downing Street press conference, Boris Johnson said: “We have taken back control of our laws and our destiny.”
The text of the agreement has yet to be released, but the PM claimed it was a “good deal for the whole of Europe”.
The UK is set to exit EU trading rules next Thursday a year after officially leaving the 27 nation bloc.
It will mean big changes for business, with the UK and EU forming two separate markets, and the end of free movement.
The trade deal will come as a major relief to many British businesses, already reeling from the impact of coronavirus, who feared disruption at the borders and the imposition of tariffs, or taxes on imports.
As the deal was announced, Mr Johnson who had repeatedly said the UK would “prosper mightily” without a deal tweeted picture of himself smiling with both thumbs lifted in the air.
In a press conference in Brussels, European Commission President, Ursula von der Leyen said: “This was a long and winding road but we have got a good deal to show for it.
She said the deal was “fair” and “balanced” and it was now “time to turn the page and look to the future”. The UK “remains a trusted partner,” she added.
At his press conference, Boris Johnson said the £668bn a year agreement would “protect jobs across this country” and “enable UK goods to be sold without tariffs, without quotas in the EU market”.
He acknowledged he had been forced to give ground on his demands on fishing.
“The EU began with I think wanting a transition period of 14 years, we wanted three years, we’ve ended up at five years,” he said.
And he said the UK had not got all it wanted on financial services, a vital part of the UK economy, but he insisted the deal was “nonetheless going to enable our dynamic City of London to get on and prosper as never before”.
The UK will no longer participate in the Erasmus student exchange schemie , which Mr Johnson said was because it is “extremely expensive” – but a British option called the Turing Scheme will provide an alternative, he added.
The UK Parliament will be recalled on 30 December to vote on the deal – it will also need to be ratified by the European Parliament.
Education for students with nation only option and human opportunity for job skills, professional and researchers, scientist in EU may be discouraging for UK national however UK with its innovation ahead may get reprieve.
British students will not be able to study at European universities with an Erasmus+ grant from 2021 and neither will EU students in the U.K., after the U.K. declined to continue participating in the EU’s flagship student mobility scheme
Security expenses training sharing of EU advisory, middle level management be another points to ponder. Judiciary intervention in trade can’t be ruled out EU parliamentary judiciary and UK counterparts are to natural overlap clash with priority to set from ICG, to EUSC, therater UK SC, to apply in reverse in Brexit. Most burning examples is that of Huawei, Alibaba other multinationals home player and foreign players.
More paper work more corruption slow snail pace to trade ills.
Labour to back deal, Labour leader Sir Keir Starmer – who campaigned against Brexit – said his party would vote for the deal in the Commons, ensuring it will pass.
He said it was “a thin agreement” that “does not provide adequate protections” for jobs, manufacturing, financial services or workplace rights and “is not the deal the government promised”.
But with no time left to renegotiate, the only choice was between “this deal or no deal,” he added.
No deal would have “terrible consequences for this country and the Labour Party can not allow that to happen”, said the Labour leader, and that was why he had decided to back it.
‘Against Scotland’s will’, The UK’s chief trade negotiator Lord Frost said the full text of the free trade agreement would be published soon.
Wales First Minister Mark Drakeford said a deal was better than no deal but criticised the timing just a week before the UK exits the EU single market and customs union.
Scotland’s First Minister Nicola Sturgeon said: “Brexit is happening against Scotland’s will – and there is no deal that will ever make up for what Brexit takes away from us.
“It’s time to chart our own future as an independent, European nation.”
Taoiseach (Irish prime minister) Micheál Martin said he would study the text of the deal but added: “From what we have heard today, I believe that it represents a good compromise and a balanced outcome.”
Brexit Party leader Nigel Farage – who played a leading role in the campaign to get the UK out of the EU in the 2016 referendum – tweeted that the deal was “not perfect” but it was a “big moment” and there was now “no going back”.
The government’s economic watchdog, the Office for Budget Responsibility, had warned that leaving without a deal would have shrunk the national income by 2% next year and led to major job losses.BBC.