Brexit Trade Negotiation Cut-off is end-July says Johnson

Johnson Brexit trade negotiation cut off

Picture by Andrew Parsons / No 10 Downing Street

Prime Minister Boris Johnson has confirmed today that the UK's cut-off date for a Brexit deal is the end of July.

"I certainly don't want to see it going on until the autumn/winter as perhaps in Brussels they would like. I don't see any point in that," Johnson said following a discussion with senior EU leaders.

Johnson met the President of the European Council Charles Michel, the President of the European Commission, Ursula von der Leyen, and the President of the European Parliament, David Sassoli, via video link.

Following the talks Johnson said the UK has a "very good chance" of getting trade deal, providing "we get on with it now and do it".

Both sides acknowledged the UK commitment to not request any extension to the transition period.

The transition period will therefore end on 31 December 2020, in line with the provisions of the Withdrawal Agreement.

"The Parties agreed nevertheless that new momentum was required. They supported the plans agreed by Chief Negotiators to intensify the talks in July and to create the most conducive conditions for concluding and ratifying a deal before the end of 2020. This should include, if possible, finding an early understanding on the principles underlying any agreement," read a statement from the UK Government following the talks.

The commitment to reach a negotiation saw both sides agree last week to five further negotiating rounds: one round for five weeks between the week commencing 29 June and week commencing 27 July.

The prospect of further negotiating rounds will ease some of the recent pressure off Sterling as the prospect of a negotiated deal will have risen. This means that the lion's share of issues should be dealt with by the end of July and a handful of problematic points will likely require face-to-face meetings between Johnson and other EU leaders to resolve.

BannerAchieve 3-5% More Currency: The Global Reach Best Exchange Rate Guarantee maximises your currency purchasing power. Find out more.

BannerBrexit will impact your UK pension if you are living in the EU. Capital Rock Wealth have developed a comprehensive guide to help you navigate the uncertainty ahead.
Find out more

BannerInvest in Spanish Property. A selection of discounted properties due to the covid-19 crisis, online viewings and transactions possible. Download the guide. Download the Guide