The Draft Brexit Withdrawal Agreement: What You Need to Know
With the United Kingdom scheduled to leave the European Union on March 29th, 2019, negotiations between both parties have been ongoing to finalize the UK`s withdrawal. One of the key documents in this process is the Draft Brexit Withdrawal Agreement, which has recently been approved by the UK cabinet. Here`s what you need to know about the agreement.
What is the Draft Brexit Withdrawal Agreement?
The Draft Brexit Withdrawal Agreement is a 585-page document that outlines the terms of the UK`s departure from the European Union. The document covers a variety of areas, ranging from citizens` rights to the financial settlement, as well as arrangements for the Northern Ireland border.
What are the key points of the agreement?
Citizens` rights: The agreement guarantees the rights of EU citizens living in the UK, as well as UK citizens living in EU member states. This includes the right to live, work, and study, as well as access to healthcare and social security benefits.
Financial settlement: The UK has agreed to pay a financial settlement to the EU, which is estimated to be between £35-£39 billion. This covers the UK`s outstanding financial obligations to the EU, such as budget contributions and pensions.
Northern Ireland backstop: One of the most contentious issues in the Brexit negotiations has been the Northern Ireland border. The agreement includes a “backstop” arrangement, which would keep Northern Ireland in the EU`s customs union and single market if a comprehensive trade deal between the UK and EU cannot be reached.
Transition period: The agreement provides for a transition period until the end of 2020, during which time the UK will continue to follow EU rules and regulations. This is designed to provide businesses and individuals with time to adjust to the new arrangements.
What happens next?
The Draft Brexit Withdrawal Agreement still needs to be approved by the EU27, which consists of the 27 EU member states minus the UK. If approved, the agreement will then need to be ratified by the UK Parliament and the European Parliament. However, there has already been significant opposition to the agreement, with some members of the UK government resigning in protest. The future of the agreement and the UK`s departure from the EU remain uncertain.
In conclusion, the Draft Brexit Withdrawal Agreement is a complex and detailed document that outlines the terms of the UK`s departure from the EU. While it provides some clarity and certainty on key issues such as citizens` rights and the financial settlement, there are still many challenges and uncertainties ahead. As the Brexit negotiations continue, it`s important to stay informed and aware of the latest developments.