Summary Of Brexit Withdrawal Agreement

This triggered Article 50 of the Treaty on the European Union, which defines the procedure for the withdrawal of an EU member state, thus opening a two-year countdown to withdrawal. The withdrawal agreement will reduce all cooperation in a controlled manner on the basis of the UK`s accession to the EU. The withdrawal agreement contains no provision on future relations between the EU and the UK. The withdrawal agreement provides for a transition period until the end of 2020, during which time relations between the EU and the UK will continue in accordance with current EU rules, as if the UK were still a member of the EU. The only important exception is that Britain will no longer participate in EU decision-making or the activities of EU institutions during the transition period. After the WAB becomes law, the withdrawal agreement must also be ratified by the European Parliament. The Gibraltar Protocol will apply until the end of the transitional period, with the exception of the citizens` rights provisions, which will also be maintained. The protocol provides for the preparation of the application of the citizens` rights part of the VA, which allows the application of EU law at Gibraltar airport if the United Kingdom and Spain agree on this point; underpins cooperation between Spain and the United Kingdom in tax matters, environmental protection and fisheries, as well as in policing and customs matters. The agreements between the United Kingdom and Spain facilitate cooperation between the competent authorities of Gibraltar and Spain at the operational level, including the use of joint committees on citizens` rights, the environment, the police and customs and tobacco. If the EP approves the agreement by a simple majority, it will have to be adopted by the EU by the overqualified majority of the European Council of the remaining 27 Member States (20 from the other EU-27 representing 65% of the EU-27 population).

The new political declaration sets out the framework for future relations between the European Union and the United Kingdom and reflects the Government`s desire to conclude an ambitious, comprehensive, deep and flexible partnership on trade and economic cooperation with the EU, with a free trade agreement with the EU, in addition to security agreements and other areas of cooperation. Following the first round of withdrawal negotiations, the UK and the EU set out an agreed approach to financial equalization in the December 2017 Joint Report. The comparison defines the financial commitments to be covered, the method of calculating the UK`s share and the payment plan. The withdrawal agreement transforms the approach outlined in this report into a legal text and provides for the continuation of negotiations on UK contributions to the EU budget if the transition period is extended. An extension would have no impact on financial equalization, which would continue as agreed. The 599-page withdrawal agreement covers the following key areas:[16] The NI Protocol, known as “backstop,” is supposed to be temporary and valid unless it is replaced by a future relationship agreement that the parties will attempt to reach by December 31, 2020.