10/2/2019, 4:05 PM (Source: TeleTrader)
more TeleTrader news

UK govt publishes proposals for Brexit deal

United Kingdom's government published on Wednesday its proposals it wants to see included in the Brexit deal. In a letter to European Commission President Jean-Claude Juncker, Prime Minister Boris Johnson enumerated the essential principles of the plan, including the compatibility with the Good Friday Agreement, long-term UK-Ireland collaboration, consent of the people affected by the arrangements and maintaining the integrity of the UK.

The replacement for the Irish backstop, negotiated by the previous government, would be to keep Northern Ireland in the European single market by creating an "all-island regulatory zone" for all goods and avoiding regulatory checks for trade on the island by keeping regulations the same on both sides of the border. This proposal would have to get approved by the executive and the legislature of Northern Ireland and extend it every four years "during the transition period." The region would, however, remain a part of the unified customs territory of the UK after the end of the transition period, the proposal stresses.

Breaking the News / NI