Withdrawal Agreement FT: All You Need to Know
In November 2018, the European Union and the UK government reached a withdrawal agreement that outlined the terms of the UK`s departure from the EU. The agreement, also known as the Withdrawal Agreement FT, covers the UK`s financial obligations to the EU, the rights of UK and EU citizens, and the future of the Irish border.
Here is a breakdown of the key aspects of the Withdrawal Agreement FT:
1. Financial Settlement
The UK agreed to pay a financial settlement to the EU as part of the withdrawal agreement. This settlement covers the UK`s share of outstanding commitments made while it was a member of the EU. The exact amount of the settlement is subject to negotiation, but it is estimated to be around £35-£39 billion.
2. Citizens` Rights
The withdrawal agreement guarantees the rights of EU citizens living in the UK and UK citizens living in the EU. This includes the right to continue to live, work, and study in their current country of residence, as well as the right to access healthcare and other public services. The agreement also sets out a mechanism for resolving disputes related to these rights.
3. Irish Border
One of the most contentious issues in the Brexit negotiations has been the future of the Irish border. The withdrawal agreement includes a “backstop” provision that aims to prevent a hard border between Northern Ireland and the Republic of Ireland if the UK and EU are unable to reach a permanent solution. The backstop would keep Northern Ireland aligned with some EU regulations until a solution is found.
4. Transition Period
The withdrawal agreement includes a transition period that will last until 31 December 2020. During this period, the UK will continue to follow EU rules and regulations, but will no longer be a member of the EU. This is intended to give businesses and individuals time to adjust to the new arrangements.
The withdrawal agreement is not yet finalised, and there is still the possibility that it may be rejected by the UK parliament. However, if the agreement is approved, it will be a significant step towards the UK`s departure from the EU.