🇬🇧

What will happen if Theresa May's Brexit deal passes?

Credit: Reuters - 3D Animations (Next Me
Published on November 19, 2018 - Duration: 01:14s

What will happen if Theresa May's Brexit deal passes?

If Theresa May's Brexit deal passes into law, what will it mean for the United Kingdom?

Advertisement

What will happen if Theresa May's Brexit deal passes?

For story suggestions or custom animation requests, contact tips@nextanimation.com.tw.

Visit http://archive.nextanimationstudio.com to view News Direct's complete archive of 3D news animations.

RESTRICTIONS: Broadcast: NO USE JAPAN, NO USE TAIWAN Digital: NO USE JAPAN, NO USE TAIWAN If Theresa May's Brexit deal passes into law, what will it mean for the United Kingdom?

The Brexit deal consists of two documents.

The first is a 585-page agreement ending Britain's relationship with Europe, while the second is a seven-page outline describing the future relationship, according to the Guardian.

The transition period would begin on March 29, 2019 and end on December 31, 2020.

During this time the U.K. would have to follow all E.U.

Rules, but would not have membership in its institutions, according to the BBC.

The withdrawal agreement would allow for the transition to be extended only once for a limited period, but would require both the U.K. and E.U.

To agree for an extension before July 1, 2020.

The Brexit draft also includes the calculations for how much the U.K. would need to pay the E.U.

To settle all of its obligations.

U.K. citizens in the E.U.

And E.U.

Citizens in the U.K. will keep their residency and social security rights after the withdrawal.

If by the end of 2020, no long-term trade deal is agreed upon, and if there is no transition period extension, then a backstop of "a single customs territory between the Union and the United Kingdom" would take effect.

In a backstop setting, the U.K. is subject to "level playing field conditions" to prevent it from gaining a competitive advantage while in the same customs territory.

To exit the backstop it would require bilateral agreement between the U.K. and the E.U.

RUNDOWN SHOWS: 1.

Transition period and one time extension 2.

UK paying EU, EU 3.

Backstop between UK and EU 4.

UK is subject to level playing field conditions in backstop setting VOICEOVER (in English): "Under Theresa May's Brexit deal the transition period would begin on March 29, 2019 and end on December 31, 2020.

During this period the U.K. must follow all E.U.

Rules, but would not have membership in its institutions." "The withdrawal agreement would allow for the transition to be extended only once for a limited period, but would require both the U.K. and E.U.

To agree for an extension before July 1, 2020." "The Brexit draft also includes the calculations for how much the U.K. would need to pay the E.U.

To settle all of its obligations." "U.K. citizens in the E.U.

And E.U.

Citizens in the U.K. will keep their residency and social security rights after the withdrawal." "If by the end of 2020, no long-term trade deal is agreed upon, and if there is no transition period extension, then a backstop of "a single customs territory between the Union and the United Kingdom" would take effect." "In a backstop setting, the U.K. is subject to "level playing field conditions" to prevent it from gaining a competitive advantage while in the same customs territory." "To exit the backstop it would require bilateral agreement between the U.K. and the E.U." SOURCES: BBC, The Guardian https://www.bbc.com/news/uk-46237012 https://www.theguardian.com/politics/2018/nov/15/what-happens-next-if-theresa-may-brexit-deal-passes *** For story suggestions please contact tips@nextanimation.com.tw For technical and editorial support, please contact: Asia: +61 2 93 73 1841 Europe: +44 20 7542 7599 Americas and Latam: +1 800 738 8377

You are here

Recent related news from verified sources

Michael Gove, a candidate to replace Britain's Theresa May, said on Monday if he became prime minister he would try to win changes to a Brexit deal by opening...
1 week ago • Reuters

Delaying Brexit beyond October 31 for further negotiation would be pointless unless Prime Minister Theresa May's successor changes Britain's red lines, Dutch PM...
5 days ago • Reuters

What will Boris Johnson or Jeremy Hunt do about Brexit if chosen to replace British Prime Minister Theresa May?
5 days ago • Reuters

Recent related videos from verified sources

Boris Johnson maintains lead in UK leadership race 01:09
Credit: Reuters - Politics - Published 1 week ago 

Watch: Boris Johnson extends lead in Tory leadership race as Raab eliminated 01:39
Credit: Euronews English - Published 1 week ago 

The EU Dismisses UK Demands Of Brits Abroad In A No-deal Brexit 00:41
Credit: Wochit News - Published 1 week ago 

No-deal Brexit chills send pound to a five-month low vs euro 01:46
Credit: Reuters - Business (Amazon FireT - Published 1 week ago 

You might like