BREAKING: Draft Brexit Deal Approved by U.K Government
At moments it seemed like a close call, but the U.K. Government has approved the draft Brexit deal Theresa May presented to them earlier today. In the weeks to come we will update you here on what Brexit will mean for importers and exporters from a customs point of view. For now, please find below an overview of what the news media are writing about the deal.
The Guardian – Theresa May wins cabinet backing for Brexit deal
Theresa May said she believed with “my head and my heart” that her Brexit deal was the best one for Britain, after securing the backing of her ministers for it during a five-hour cabinet meeting.
“When you strip away the detail, this deal delivers on the vote of the referendum, takes back control of our money, our laws and our borders and ends free movement,” she said.
Read more here: Theresa May wins cabinet backing for Brexit deal
The New York Times – Brexit Live Updates: U.K. Cabinet Approves Draft Deal
There are still several steps before the agreement could take effect. The deal needs the approval of the British Parliament, which is far from a certainty. The European Parliament and the bloc’s 27 other member states would also have to approve it.
A key sticking point is the Irish border. Negotiators are trying to find a way to allow people and goods to pass through without the imposition of border controls.
Read more here: Brexit Live Updates: U.K. Cabinet Approves Draft Deal
CNBC – At long last, there’s a draft Brexit ‘deal’ – here’s what we know so far
As such, the draft deal on the table reportedly keeps the whole of the U.K. within the customs union for a certain (but as yet unknown) amount of time. Problematically for the prime minister, there has been strong criticism from Brexiteers and the DUP about any deal that does that.
The Guardian – Backstop deal has no end date, Irish PM hints
The withdrawal agreement between the UK and EU does not include Brexiter demands for an expiry date or an option for the UK to unilaterally exit the arrangement, the Irish prime minister has strongly hinted.
Read more here: Backstop deal has no end date, Irish PM hints
CNN – What the Brexit deal means for business, markets and the economy
The deal includes a transition period during which most trading rules for companies in Britain will remain the same. A joint declaration published Wednesday said that agreement had been reached on a close relationship on trade in financial services, and broad cooperation on transportation and energy.
But businesses have also been warned to prepare for a scenario where the deal falls through.
“We still urge business to continue preparing for both a deal and no deal scenario until the deal is ratified,” said Andrew Gray, head of Brexit at PwC.
Read more here: What the Brexit deal means for business, markets and the economy
BBC Reporter hasn’t got the foggiest idea, but we have!
BBC Reporter Chris Mason was very honest about Brexit and what can be said about it: “I haven’t got the foggiest idea”, he said.
When it comes to the implications of Brexit on anything related to customs, tariffs, importing, or exporting we have a clear view of what needs to happen, whatever the outcome. We are happy to assist you and answer your queries and questions. Contact us.
— BBC Breakfast (@BBCBreakfast) November 12, 2018