The EU and UK have a post-Brexit trade deal

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The EU and UK have reached a post-Brexit trade deal. The text of the agreement has yet to be released, but the PM Boris Jonson claimed it was a “good deal for the whole of Europe”. The UK is set to exit EU trading rules next Thursday. In a press conference in Brussels, European Commission President, Ursula von der Leyen said: “This was a long and winding road but we have got a good deal to show for it.” The UK “remains a trusted partner,” she added. Boris Johnson said the £668bn a year agreement would “protect jobs across this country” and “enable UK goods to be sold without tariffs, without quotas in the EU market”. The UK will no longer participate in the Erasmus student exchange scheme.

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Taoiseach (Irish prime minister) Micheál Martin said he would study the text of the deal but added: “From what we have heard today, I believe that it represents a good compromise and a balanced outcome.” The head of the National Federation of Fishermen’s Organisations, Barrie Deas, said the fishing industry will be “extremely disappointed” and the UK had made “significant concessions on fish”. The UK Parliament will be recalled on 30 December to vote on the deal. It will also need to be ratified by the European Parliament. The government’s economic watchdog, the Office for Budget Responsibility, had warned that leaving without a deal would have shrunk the national income by 2% next year and led to major job losses.