Brexit Withdrawal Agreement – What You Need to Know According to the BBC

As the UK Parliament gears up to vote on Prime Minister Theresa May`s Brexit withdrawal agreement, the nation remains deeply divided on whether the deal is in the best interest of the country. But what does the deal actually entail? Here`s a breakdown of the key points as reported by the BBC:

1. The “backstop”: The most contentious part of the agreement is the provision for a “backstop” – a temporary arrangement to ensure there is no hard border between Northern Ireland, which is part of the UK, and the Republic of Ireland, which is part of the EU. If no permanent solution is found, the UK would remain in a customs union with the EU to ensure this border remains open.

2. The transition period: If the withdrawal agreement is approved, the UK will enter a transition period from March 29, 2019 until December 31, 2020. During this time, the UK will continue to trade with the EU as if it were still a member, but will have no say in EU decision-making.

3. Financial settlement: Under the agreement, the UK will pay a “divorce settlement” to the EU, estimated at around £39bn ($50bn), to cover its existing financial commitments.

4. Citizens` rights: The withdrawal agreement confirms the rights of EU citizens living in the UK, and UK citizens living in the EU, to continue to live and work in their current country of residence.

5. Future trade: The agreement sets out the framework for negotiating a future trade deal between the UK and EU, but details have yet to be thrashed out.

So, what happens if the UK Parliament votes against the deal? There is no clear answer, but it is likely to lead to further uncertainty and leave the UK facing the prospect of a “no-deal” Brexit. This would mean leaving the EU without any agreement on future trade arrangements, potentially causing significant disruption to businesses and the economy.

Ultimately, the decision of whether to support the Brexit withdrawal agreement is a complex one, with far-reaching consequences for the UK. As the debate continues to rage on, it is important for citizens to stay informed and engaged in the process.