Mon, 19 May 2025
The deal covers defence, trade, fishing, and a possible youth scheme, in the first big reset since Brexit.
* The UK and EU have agreed on a major reset of relations, covering fishing, trade, defence, energy, and other policy areas.
* A key part of the deal gives European fishing boats 12 more years of access to British waters in exchange for easing some trade frictions.
* The agreement also includes:
+ Reduced paperwork and checks for food and drink imports and exports
+ Removal of routine checks on animal and plant products
+ UK participation in the EU's proposed £150bn defence fund
+ Linking emissions-trading schemes to avoid an EU carbon tax
* The deal will make it easier for British fishing communities to sell into the European market, but some critics argue that it gives away too much control over British waters.
* The agreement has been described as a "surrender" by Conservative and Reform UK leaders, while Liberal Democrat leader Sir Ed Davey said it was a positive step towards rebuilding ties with Europe.
* The deal requires the UK to follow EU rules in certain areas, including food trade and emissions trading, and would mean the European Court of Justice has a role in any trading disputes.
* The agreement is expected to add nearly £9bn to the UK economy by 2040.
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