The two parties thrashing out a deal on Brexit, the UK and EU, are on the verge of striking an agreement it is said.
Talks continued throughout the night between the two on the details however it is expected that an announcement will be made today (Thursday).
They have believed to have made headway on agreements over fishing rights and the “level playing field” measures that prevent unfair competition. The deal is expected to come with only days left until the current arrangements expire on 31st December.
The Prime Minister has been keeping his cabinet updated with late-night telephone calls while working closely with European Commission president Ursula von der Leyen over the last few days.
The pair are expected to be in a call today to finalize the deal.
European Commission spokesman Eric Mameras has stated that the deal could be announced today, saying “Work will continue throughout the night (last night). Grabbing some sleep is recommended to all Brexit-watchers at this point. It will hopefully be an early start tomorrow morning…”
A deal will come as a huge relief to business owners with the trading relationship worth almost £670 billion and it had been forecast by the Office for Budget Responsibility that a “no-deal” would wipe 2% off gross domestic product, the size of the economy, in 2021, adding to the misery already caused by the pandemic and the loss of jobs. Any deal Mr. Johnson secures is likely to pass through Parliament with Labour expected not to oppose it – Sir Keir Starmer has stressed that an agreement with the EU would be in the national interest. If a deal is reached it would have to be backed by the 27 EU states however the European Parliament has said there will not be enough time to ratify it before 1st January so it would be a provisional deal until that time.
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