- Today, the UK Government and the European Commission announced that a new deal has been reached, paving the way for the UK’s departure from the European Union (EU).
The changes are contained in a revised Protocol on Ireland / Northern Ireland and a revised Political Declaration on the framework of the future EU-UK relationship.
Commenting on the proposed deal, BAB CEO, Duncan Edwards, said:
“We welcome the fact that a new deal has been agreed and congratulate the UK Government and the European Commission for having worked constructively towards achieving this.
“The prospect of a ‘no-deal’ exit was not in the interest of business, particularly the transatlantic community of major British firms and leading US investors that we represent. Every day that passes with the real prospect of a ‘no-deal’ makes it harder for businesses to make investment decisions which would benefit the UK economy, UK workers, and the transatlantic corridor.
“The new Withdrawal Agreement offers certainty on citizens’ rights, the financial settlement, the future of Northern Ireland, and most importantly, it puts in place the transition period that we as a business community have repeatedly called for.
“We therefore urge both the UK Parliament and the European Parliament to approve the deal so that the UK can start defining its new relationship with the EU and the rest of the world.
“If this agreement passes, as it should, the next stage of negotiations, defined in the new Political Declaration, will need to begin immediately. There should be renewed urgency around these talks in order to reach agreement by the end of the Transition Period in just 15 months, to avoid another dangerous cliff-edge.”