The UK and EU have agreed a new post-Brexit reset trade deal after months of negotiations.
A UK government source said: “All in all, a good deal for all.”
The talks were the first since Boris Johnson agreed the initial Brexit deal in January 2020, when the UK left the EU.
Politics latest: Details of UK-EU deal emerge
Negotiations went “down to the wire”, with a breakthrough at about 10.30pm on Sunday ahead of a Monday 10am deadline, as UK fishing rights were, yet again, a major sticking point.
Sky News understands the EU wanted permanent access to UK waters for fishing, but they have agreed a deal which includes access for 12 years.
There will be no change to the current access for UK fishing communities, with no reduction in British quotas or increase in the amount the EU is allowed to catch.
Fishing rights were a major part of the Brexit “leave” campaign, although fishing only accounts for 0.4% of GDP.
‘Britain back on the world stage’
Details are expected later today on defence and security, which could feature an agreement allowing British firms access to a £125bn EU defence fund.
The two sides were also looking at deals allowing British travellers to use e-gates at European airports and cutting red tape on food exports and animal/plant health for trade.
Sky News understands talks are continuing on a youth mobility scheme to allow people aged 18-30 in the UK and the EU to move freely between countries for a limited period.
Sir Keir Starmer promised in his 2024 election manifesto he would sign a new trade and security deal with the EU, and has embarked on a charm offensive across Europe since winning power.
Chancellor Rachel Reeves told a meeting of business leaders it had “not been easy” to reach a deal but said it would “make it easier” for UK businesses.
EU relations minister Nick Thomas-Symonds said it was a “historic day”.
“Good for jobs, good for bills, good for borders,” he posted on X.
“And more… Britain back on the world stage, with a government in the service of working people.”
Read more:
People do feel like strangers in Britain, poll finds
Britain may have to resort to anti-subversion laws
👉Listen to Politics at Sam and Anne’s on your podcast app👈
Conservative leader Kemi Badenoch called the deal “very concerning” and said 12 years EU access for fishing is three times longer than the government wanted.
“We’re becoming a rule-taker from Brussels once again,” she said.
“And with no details on any cap or time limits on youth mobility, fears of free movement returning will only increase.”
Fishing was a major sticking point in the talks. Pic: PA
Reform UK leader and Brexiteer Nigel Farage described the deal as a “surrender” and said the 12-year fishing deal “will be the end of the fishing industry”.
Business Secretary Jonathan Reynolds told Sky News details were still being worked out just three hours before the deadline.
With just over an hour to go before the 10am deadline, the EU ambassadors’ committee approved the deal, ahead of a summit with EU leaders in London this morning.
A news conference to announce the details of the deal is set for later.
