The Brexit Withdrawal Agreement Summary

The main elements of the draft agreement are:[21] On 17 October 2019, the United Kingdom and the EU approved a revised agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community, endorsed by the Heads of State and Government at an extraordinary meeting of the European Council – a legally binding document, which contains provisions relating to the “divorce agreement” between the EU and the United Kingdom and the transitional period (agreement). Following the first round of withdrawal negotiations, the UK and the EU adopted a common approach to the financial regime in the December 2017 Joint Report. The comparison defines the financial commitments covered, the methodology for calculating the UK share and the payment plan. The Withdrawal Agreement transforms the approach set out in this report into a legal text and provides for further negotiations on the UK`s contributions to the EU budget in the event of an extension of the transition period. . . .

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