News | Legal News

15 November 2018

Cabinet backs draft Brexit withdrawal agreement

Prime Minister Theresa May has announced that the cabinet has supported a draft withdrawal agreement between the UK and the EU.

The prime minister explained it was a "decisive step" in the advancement of Brexit, and would allow the agreement, which has been published by the EU, to be finalised in the coming days.

The Prime Minister’s office’s summary of the agreement is below:

  • Protects the rights of more than three million EU citizens living in the UK and around one million UK nationals living in the EU.
  • A time-limited implementation period, allowing businesses to continue trading as now until the end of 2020.
  • A fair financial settlement for UK taxpayers estimated to be between £35-39bn, resolving our obligations.
  • A mechanism for resolving any disputes between the UK and the EU. First, disputes will be consulted on in a joint committee and, if no mutually agreed solution can be found, it will be resolved by an independent arbitration panel.
  • Ending free movement and introducing our new skills-based immigration system.
  • Visa-free travel for tourism and temporary business activity, to ensure businesses can continue to provide services and move their talented people.
  • A free trade area and deep co-operation on goods, with zero tariffs and quotas.
  • The ability to strike trade deals around the world.
  • Provisions to ensure open and fair competition, in line with the overall economic relationship with commitments by both the UK and the EU on state aid, employment and environmental standards, and relevant tax matters.

There is no confirmation on whether the U.K. will remain in a customs partnership with the EU post Brexit.

Guy Verhofstadt, MEP said the agreement "will make a Brexit possible, while maintaining a close relationship between the EU and UK, a protection of citizens' rights and the avoidance of a hard Irish border".

The prime minister now must tackle getting the finished deal through Parliament.

The Democratic Unionist Party (DUP), which plays a key role in giving the government the support it needs to win crucial votes, has joined opposition parties in criticising the anticipated arrangements.

if you’d like to contact B P Collins’ Brexit team, please email brexit@bpcollins.co.uk

Victoria Holland

Victoria Holland

Tel: 01753 279022

Stay in touch

Phone: +44 (0) 1753 889995

Email: enquiries@bpcollins.co.uk

About cookies on our website

Our Site uses cookies to improve your experience of certain areas of the Site and to allow the use of specific functionality, such as social media page sharing. You may delete and block all cookies from this Site, but as a result, parts of the Site may not work as intended.

To find out more about our cookies policy, please visit here.

Click on the button below to accept the use of cookies on this Site (this will prevent the dialogue box from appearing on future visits).