In October 2019 following an intense period of negotiation, a revised Brexit deal by the UK and the EU was announced. The Agreement which was negotiated between the EU and the UK sets out the proposed terms of the UK’s exit from the European Union and Euratom. The revised deal removes the controversial 'backstop' and sets out compromises for both the UK and EU. The deal must now be ratified by the UK and the EU in advance of exit day.
If ratified, the Withdrawal Agreement including the Protocols, together with the Political Declaration on the framework for the future EU-UK relations, will regulate the relationship between the UK and the EU after exit day. The key components of the overall Agreement include:
- The Withdrawal Agreement - which provides for the UK's exit from the EU, including a transitional period which is intended to run from exit day until the entry into force of new UK-EU partnership arrangements. The transitional period is set to end on 31 December 2020, but this may be extended once by agreement of the EU and the UK for up to 1 or 2 years.
- The Protocols: which includes the Protocol on Ireland/Northern Ireland. The most significant changes to the deal have been made in this Protocol (formerly known as 'the Irish backstop') which now includes a democratic consent process in Northern Ireland. The Protocol is intended to apply at the end of the transitional period.
- The Political Declaration: which sets out an agreed framework for the future relationship between the UK and the EU. This remains largely unchanged as part of the revised deal.
We have published a briefing summarising:
- The background to the Agreement
- The process of ratification
- The Northern Ireland Protocol
- Key areas of consensus between the UK and EU, and where appropriate suggests actions that businesses can take to manage risk now and to gain advantage
Download (20 Pages / 4.3 MB)