Government heralds Brexit transition progress

The Department for Exiting the EU has published a draft Withdrawal Agreement following the conclusion of a key set of negotiations.  David Davis and Michel Barnier both welcomed the progress.  Mr Davis heralded the agreement, which provides (among other things) that international agreements that arise as a result of the UK’s membership of the EU will continue to apply during the transitional period.

Michel Barnier also welcomed the agreement, but cautioned that it is just a step along the way, and the end of the road remains to be agreed.

While the draft Agreement does not address financial services, it does set the end of transition date as 31 December 2020.

The aim is to finalise the agreement by October.