Brexit new deal

The Brexit new deal, also known as the Withdrawal Agreement and the Political Declaration, is a revised agreement between the United Kingdom and the European Union that was reached on October 17, 2019. The agreement aims to resolve the outstanding issues related to the UK's withdrawal from the EU, which was originally scheduled for March 29, 2019.

Key elements of the new deal:

  1. Withdrawal Agreement: The UK will leave the EU on January 31, 2020, and enter a transition period that will last until December 31, 2020. During this period, the UK will remain in the EU's customs union and single market, and will continue to follow EU rules.
  2. Irish border: The agreement includes a new protocol on Ireland and Northern Ireland, which aims to avoid a hard border on the island of Ireland. The protocol establishes a "single customs territory" between the UK and the EU, and allows for the free movement of goods across the border.
  3. Citizens' rights: The agreement guarantees the rights of EU citizens living in the UK and UK citizens living in the EU, including the right to live, work, and access healthcare and other benefits.
  4. Financial settlement: The UK has agreed to pay a financial settlement to the EU, estimated to be around £39 billion, to cover its outstanding commitments to the EU.
  5. Transition period: The transition period will last for 11 months, during which time the UK and the EU will negotiate a new trade agreement. The UK will have the ability to unilaterally withdraw from the transition period if no agreement is reached.
  6. Trade agreement: The Political Declaration sets out the framework for a new trade agreement between the UK and the EU, which will be negotiated during the transition period. The agreement will aim to establish a free trade area between the two parties, with minimal tariffs and non-tariff barriers.
  7. Security and defense: The agreement includes provisions on security and defense cooperation between the UK and the EU, including the sharing of intelligence and the participation of UK forces in EU military operations.

The new deal was approved by the UK Parliament on January 23, 2020, and the UK officially left the EU on January 31, 2020. The transition period is currently ongoing, and the UK and the EU are negotiating a new trade agreement.