{"id":56297,"date":"2025-05-19T15:58:32","date_gmt":"2025-05-19T15:58:32","guid":{"rendered":"https:\/\/prosfunds.com\/?p=56297"},"modified":"2025-05-19T15:58:33","modified_gmt":"2025-05-19T15:58:33","slug":"uk-and-eu-agree-post-brexit-reset-at-showpiece-summit","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=56297","title":{"rendered":"UK and EU agree post-Brexit reset at showpiece summit"},"content":{"rendered":"
\n

London and Brussels have agreed a historic post-Brexit reset of relations that Prime Minister Sir Keir Starmer said would be worth \u00a39bn to the UK but which drew instant criticism for keeping British fishing grounds open to EU boats for 12 more years.<\/p>\n

The concession on fishing opened the way for a wide-ranging deal including a security and defence pact and the promised removal of much red tape for British farm exports to the EU.<\/p>\n

The agreement was unveiled at a London summit on Monday, the first between the two sides since the UK left the bloc in 2020.<\/p>\n

The two sides are seeking to deepen their ties five years after Brexit, as Donald Trump\u2019s presidency strains transatlantic relations over issues including tariffs and the Ukraine war.<\/p>\n

Britain had previously proposed an extension of EU access to its fishing grounds of only four to five years. But Starmer\u2019s Labour government agreed to a longer-term deal in return for open-ended provisions to ease UK food products\u2019 entry into the EU.<\/p>\n

European Commission president Ursula von der Leyen said the agreement marked a \u201cnew chapter\u201d in the bloc\u2019s relationship with the UK, while Starmer hailed it as a \u201ccommon sense, practical\u201d solution that moved on from the \u201cstale old debates\u201d about Brexit.<\/p>\n

He added that the deal gave the UK \u201cunprecedented access to the EU market\u201d \u2014 including for products such as burgers and shellfish \u2014 and heralded \u201ca new partnership between an independent Britain and our allies in Europe\u201d.<\/p>\n

UK food and drink exports to the EU, a far bigger sector than the politically charged fisheries industry, were \u00a314bn in 2024, according to the Food and Drink Federation, the industry lobby.<\/p>\n

Starmer said that together with a plan to link the UK and EU\u2019s carbon emissions trading systems, the exports deal in a proposed veterinary agreement would bring \u00a39bn of economic benefit to Britain.<\/p>\n

It should also help Northern Ireland by reducing hugely the amount of checks on animals and agrifood crossing the Irish Sea. <\/p>\n

The two sides said they would \u201cproceed swiftly\u201d to reach more detailed agreements.<\/p>\n

However, the concession on fishing prompted fierce criticism from Conservatives and the industry.<\/p>\n

Kemi Badenoch, the Conservative leader, said the deal was \u201cvery concerning\u201d, noting that the UK had previously offered in negotiations to extend fishing rights to boats from France and other coastal states for only four years.<\/p>\n

Elspeth Macdonald, chief executive of the Scottish Fishermen\u2019s Federation, said: \u201cThis deal is a horror show for Scottish fishermen,\u201d adding that it was \u201cfar worse\u201d than the previous post-Brexit deal by former UK Prime Minister Boris Johnson.<\/p>\n

<\/source><\/source><\/picture>
The two sides in talks at Lancaster House on Monday<\/span> \u00a9 Kin Cheung\/PA <\/span><\/figcaption><\/figure>\n

Nigel Farage, leader of Reform UK, the pro-Brexit party that won local elections earlier this month, described the deal as a \u201cbetrayal\u201d.<\/p>\n

However, Jonathan Reynolds, UK business secretary, said the fishing sector would benefit from the promised veterinary deal, arguing that it would help it sell to the EU.<\/p>\n

The UK government also announced it was providing \u00a3360mn for fishing and tourism in coastal areas. <\/p>\n

Economists at Aston University have estimated that UK agrifood exports to the EU could be boosted by more than 20 per cent as a result of a vet deal.<\/p>\n

By contrast, the UK fishing industry accounts for only about 0.04 per cent of Britain\u2019s national output.<\/p>\n

The two also signed a defence and partnership that could give the UK defence sector access to a \u20ac150bn fund of cheap loans backed by the EU budget, subject to a second more detailed agreement. <\/p>\n

Starmer added that the deal would allow British holidaymakers to enter the EU more quickly through the use of passport e-gates, but called on EU governments to \u201chelp make this a reality without delay\u201d.<\/p>\n

Both sides were locked in intense haggling through the night over details of their revamped relationship, including on fisheries and food trade, along with wording about a proposed youth mobility scheme.<\/p>\n

Tensions remain over the youth scheme, with the document containing only a loose commitment to \u201cwork towards\u201d such an arrangement and Britain\u2019s return to the Erasmus student exchange programme. <\/p>\n

Starmer said the experience scheme would be time limited, capped in numbers, and not lower fees for EU students to UK levels, which had been a key demand of the EU.<\/p>\n

But the deal was unlocked when the UK said it would open fishing waters for 12 years, and the EU granted its late request to exempt more British steel from emergency tariffs.<\/p>\n

The commission agreed to ask member states to grant a guaranteed tariff-free quota, which the UK said was worth \u00a315mn a year. <\/p>\n

Ambassadors from the 27 member states met early on Monday to sign off on the package, even as leaders of the EU institutions headed for London to formally agree it.<\/p>\n

The two sides also signed a communiqu\u00e9 promising deeper economic co-operation during a two-hour meeting at Lancaster House with Von der Leyen and European Council president Ant\u00f3nio Costa.<\/p>\n

The EU-UK summit emphasised a spirit of reconciliation, but the tense talks on Sunday were a reminder that the relationship is now highly transactional.<\/p>\n

Details of the EU-UK deal are very politically sensitive. Badenoch has said Starmer is about to \u201csurrender\u201d British interests, including agreeing to become a \u201crule-taker\u201d from Brussels.<\/p>\n

Britain has conceded that removing barriers to trade in foodstuffs will require the UK to \u201cdynamically align\u201d, or stay in step, with EU regulations as they change \u2014 and also make payments to the bloc to fund work on food and animal standards.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

London and Brussels have agreed a historic post-Brexit reset of relations that Prime Minister Sir Keir Starmer said would be worth \u00a39bn to the UK but which drew instant criticism for keeping British fishing grounds open to EU boats for 12 more years. The concession on fishing opened the way for a wide-ranging deal including […]<\/p>\n","protected":false},"author":1,"featured_media":56298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-56297","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\nUK and EU agree post-Brexit reset at showpiece summit | Prosfunds<\/title>\n<meta name=\"description\" content=\"London and Brussels have agreed a historic post-Brexit reset of relations that Prime Minister Sir Keir Starmer said would be worth \u00a39bn to the UK but\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=56297\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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