The Withdrawal Agreement, also known as the Brexit deal, is a treaty between the European Union and the United Kingdom that sets out the terms of the UK`s departure from the EU. The agreement was signed on 24 January 2020 and came into effect on 1 February 2020. Here are some of the key points of the Withdrawal Agreement that you should know.
1. Transition period: The Withdrawal Agreement includes a transition period that will last until 31 December 2020, during which time the UK will continue to follow EU rules and regulations. This period can be extended by up to two years, but the UK government has indicated that it does not plan to do so.
2. Citizens` rights: The rights of EU citizens living in the UK, and UK citizens living in the EU, will be protected under the Withdrawal Agreement. This includes the right to live, work, and study in the UK or EU, as well as access to healthcare and social security benefits.
3. Northern Ireland: The Withdrawal Agreement includes a protocol on Northern Ireland, which is designed to avoid a hard border between Northern Ireland and the Republic of Ireland. Under the protocol, Northern Ireland will remain aligned with the EU`s customs union and single market for goods, but will also remain part of the UK`s customs territory.
4. Financial settlement: The UK has agreed to pay a financial settlement to the EU as part of the Withdrawal Agreement, to cover commitments already made to EU programmes and institutions. The exact amount of the settlement is subject to negotiation, but is estimated to be around £39 billion.
5. Future relationship: The Withdrawal Agreement is only concerned with the terms of the UK`s departure from the EU, and does not cover the future relationship between the two sides. Negotiations on the future relationship, including on trade, security, and other issues, will take place during the transition period.
6. Ratification: The Withdrawal Agreement has been ratified by both the UK and the EU, but it still needs to be approved by the European Parliament before it can be fully implemented. The European Parliament is expected to vote on the agreement in January 2020.
In conclusion, the Withdrawal Agreement is a complex document that covers a wide range of issues related to the UK`s departure from the EU. Understanding its key points is essential for anyone who wants to keep up with the latest developments in the Brexit process. The transition period, citizens` rights, Northern Ireland, financial settlement, future relationship, and ratification are all important aspects of the agreement that will have a significant impact on the UK and the EU in the years to come.