The UK and European Union have secured a new agreement that will support British businesses, back British jobs, and put more money in people’s pockets. This deal is expected to add nearly £9 billion to the UK economy by 2040.
The UK and EU deal will save for every single part a many benefits package as the Prime Minister Keir Starmer hailed the agreement as “good for jobs, good for bills, and good for our borders”.
The deal marks a new chapter in the UK-EU relationship, with a focus on cooperation and mutual benefit
Key Highlights of the Deal:
- Reduced Red Tape:
- A new Sanitary and Phytosanitary (SPS) agreement will make it easier for food and drink to be imported and exported, potentially lowering food prices and increasing choice on supermarket shelves.
- Economic Boost:
- The SPS agreement and linking Emissions Trading Systems will improve the UK’s energy security and avoid businesses being hit by the EU’s carbon tax.
- Steel Exports: British steel exports are protected from new EU rules and restrictive tariffs, saving UK steel £25 million per year.
- Defence and Security:
- A new Security and Defence Partnership will pave the way for the UK defence industry to participate in the EU’s proposed £150 billion Security Action for Europe (SAFE) defence fund.
- Youth Experience Scheme:
- The UK and EU will work towards a balanced youth experience scheme, allowing young people to work and travel freely in Europe for a limited period.
- Travel and Border Management: British holidaymakers will be able to use more eGates in Europe, and pets will be able to travel more easily with the introduction of ‘pet passports’.
- Fishing Agreement:
- A new 12-year agreement protects Britain’s fishing access, fishing rights, and areas, with no increase in the amount of fish EU vessels can catch in British waters.
