Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

UK's Johnson planning to override parts of Brexit withdrawal agreement - FT

Published 09/06/2020, 05:19 PM
Updated 09/06/2020, 07:35 PM
© Reuters. FILE PHOTO: British PM May meets German Chancellor Merkel to discuss Brexit in Berlin

(Reuters) - The British government is planning legislation that will override key parts of the Brexit withdrawal agreement, risking the collapse of trade negotiations with Brussels, the Financial Times reported on Sunday.

Sections of the internal market bill, due to be published on Wednesday, are expected to "eliminate the legal force of parts of the withdrawal agreement" in areas including state aid and Northern Ireland customs, the newspaper said, citing three people familiar with the plans.

A source told the FT that the move could "clearly and consciously" undermine the agreement on Northern Ireland that Prime Minister Boris Johnson signed last October to avoid a return to a hard border in the region.

The move comes as Britain and the European Union resume talks on a trade deal, with Johnson saying on Sunday that if an agreement is not reached by Oct. 15, both sides should "accept that and move on".

If the sticking point of fisheries and state aid cannot be resolved and a deal agreed, Britain would have a trading relationship with the bloc like Australia's, which would be "a good outcome", Johnson said.

The planned legislation, as reported by the Financial Times, would ratchet up tension between the two sides by attempting to undo some of the elements of the Withdrawal Agreement signed earlier this year, including those relating to the border between EU-member Ireland and Northern Ireland, which is part of the United Kingdom.

The move was condemned by parties on both sides of the Irish border.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Irish Foreign Minister Simon Coveney, who played a key role in negotiating the withdrawal agreement and Northern Ireland protocol, said on Twitter that the reported move "would be a very unwise way to proceed."

Senior members of Northern Ireland's Sinn Fein and SDLP parties, the region's two largest Irish nationalist groups, also criticised the British government's plan, as reported by the newspaper.

Latest comments

I guess the British empire wants to even smaller than it is. they will also lose Scotland
Hopefully scotland gets free
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.