September 11, 2020

Brexit - Deal or No Deal?

Latest Brexit Update - Key points of discussion

European Union

  • EU wants the UK to abide by EU rules on government subsidies or state aides which are prohibited under EU law
  • To ensure that EU businesses are competing on an equal footing and not undercut
  • The EU believe that jobs in the region could be threatened if the rules are not adopted by the UK 

United Kingdom

The United Kingdom believe that company access to state aid is going to be critical post Brexit to ensure the economy thrives.

EU rules apply to:

  • Grants
  • Loans
  • Tax breaks
  • The sales of state assets at a reduced price
  • The use of state assets for free

Fisheries

  • The European Union requests that the United Kingdom abide by the rules as set out within the Common Fisheries Policy to retain shared fishing rights in UK waters. 
  • The United Kingdom currently has access to 10%.
  • Returning fishing rights to the UK was a big part of regaining sovereignty and a major part of the Brexit campaign.

The expectation is from the United Kingdom is to resolve the deal prior to the European Summit on the 15th October. 
 

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