What new Brexit deal has been agreed upon?

18 Oct    Uncategorized
Brexit
Oct 18

What new Brexit deal has been agreed upon?

The new Brexit agreement has come to reach with the UK and the European Union. England, Scotland, Wales and Northern Ireland together will come out of the European Union. The four English regions will together have control of the UK’s border. Additionally, they will form their free trade policies without having interventions of other European countries. The UK will have its budget planning, judicial rule, and boundaries.

Northern Ireland border- Brexit
Northern Ireland border issues with EU

The customs border will begin to form, and the UK will have its marketplace policies, where it will set out its own customs rules. As of now, UK has to work with the EU leaders in one market place along with other European Union countries. However, there will no changes in civil rights among British living in European regions and also European living in the current British province. The inhabitant of both countries will retain their civil rights and healthcare benefits. Some EU VAT will not apply to goods in Northern Ireland provided they are not moved from NI to elsewhere in the European region. The entire customs tax on goods and services still unclear until actual transporation takes place after the deal is confirmed.

Brexit Deal
UK parliament will soon vote for on Brexit deal

The voting will take place on Saturday, October 19, which will decide the fate of the new Brexit agreement. The prime minister Boris Johnson is confident that the long awaiting deal will be finally considered and appears positive about it. However, the labor and other opposition parties in the UK have opposed to new bill and demanded a public majority vote. Spain will not compromise their veto rights on Gibraltar as per latest Brexit agreement

UK will pay approximately  £33 billion to EU after Brexit deal is final.
£33 payment to EU

The UK will have to pay around £33 pending monetary commitments to European because it will be leaving from the European Union. If the government decides to go ahead with the Brexit deal and do not complete the formalities by October 31, 2019, then the UK may ask for an extension until January 31, 2020. By chance, if the government succeeds in voting against the bill, the new second referendum will come through, and it may also result in the resignation of UK prime minister Boris Johnson.

Parliament will vote on new Brexit deal
UK Parliament

If the lateral situation occurs, then the government has to appoint new PM and again bargain an accord with European leaders. There are fewer chances that vote will fail as the new term was endorsed by 27 countries across the European peninsula. The UK primate minister will not only have to need support from his conservative party works but also from opposition labor party leaders. The analyst estimates that the withdrawal deal will mostly impact local businesses that run across the border regions. Hence UK leading party will have to consider collaborators carefully before making a final verdict on Brexit understanding.

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