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Brexit: What's in the deal?
A quick guide to what's in the Brexit deal
UK ministers have warned there will be some disruption in the short term as the UK leaves the EU. But what exactly is in the deal that has been agreed? Here's a quick guide to the key points.
The UK will leave the EU's single market and customs union
This means that the UK will no longer be part of the EU's free trade area, and will be able to set its own trade deals with other countries. However, it also means that there will be new checks on goods and services at the UK's borders with the EU.
The UK will continue to pay into the EU budget
The UK will continue to pay into the EU budget for a period of time, even though it is no longer a member of the EU. This is to help cover the costs of the UK's membership of the EU up to the point of its departure.
The UK will have a say in EU decision-making
The UK will continue to have a say in EU decision-making, even though it is no longer a member of the EU. This is through the UK's membership of the European Economic Area (EEA).
The UK will retain access to the EU's single market
The UK will retain access to the EU's single market, which means that UK businesses will be able to continue to trade with other EU countries without paying tariffs.
The UK will have a transition period
The UK will have a transition period of 21 months, during which time it will continue to follow EU laws and regulations. This will give businesses time to adjust to the new arrangements.
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