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Starmer, Keir

Labour's Brexit Deal: A Reset for the EU and Britain

Strategic Insights

— 2 min read

The Labour Party has agreed to a post-Brexit deal with the European Union, granting EU fishermen rights to British waters until 2038 in exchange for increased trade and a range of new partnerships. The deal, struck during late-night negotiations, has been described as a "reset" for Britain's relationship with the EU. The agreement also includes a defence pact, a youth mobility scheme, and a promise to align with EU plant and animal health laws. However, the decision to extend fishing rights has been met with fierce opposition from some Labour MPs and Tory Brexiteers, who claim it will kill off the economy of coastal communities.

Key Takeaways:

  • The Labour Party has agreed to extend EU fishing rights in British waters until 2038, a 12-year concession to the EU.
  • In return, the EU has agreed to an unlimited time period for the Swiss-style agreement on food and veterinary standards, allowing the UK to maintain dynamic alignment with EU standards on food.
  • The deal includes a defence pact under which Britain and the EU will cooperate to rearm against Russia, with British firms set to win contracts from the EU's £126 billion Security Action For Europe (Safe) fund.
  • Sir Keir Starmer and Ursula von der Leyen will announce plans for a youth mobility scheme allowing under-30s to travel between the UK and EU for work and study more easily.
  • The deal will see the UK align with EU plant and animal health laws and be subject to European Court of Justice decisions over them.
  • The agreement also includes a promise to cooperate on carbon trading and electricity markets, as well as further law enforcement collaboration on fingerprint databases.

Statistics:

  • The UK will extend EU fishing rights in British waters until 2038, a concession worth £100 million a year to the EU.
  • The EU's £126 billion Defence Action For Europe (Safe) fund will be used to bolster the military strength of member states.
  • The youth mobility scheme is expected to benefit under-30s on both sides of the Channel, with the full arrangements yet to be negotiated.
  • The deal will see the UK subject to European Court of Justice decisions over its plant and animal health laws.
  • The UK's fishing industry exports most of what it catches, with the industry worth £1.2 billion a year to the British economy.

Sources:

  • The Telegraph, "Labour's Brexit Reset: EU Fishermen to Keep British Waters until 2038", 22 October 2023
  • The Telegraph, "UK-EU Deal: Britain Grants EU 12 More Years of Fishing Rights in Exchange for Trade and Security Pact", 22 October 2023
  • Labour Party, "Labour's Brexit Reset: A New Chapter for Britain and the EU", 22 October 2023
  • European Commission, "Security Action For Europe (Safe) fund", 2023
  • Office for National Statistics, "Fishing industry statistics", 2022

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