Agriculture and trade The UK and EU agrees a “common rulebook for all goods including agri-foods”, with British ministers committing in a treaty to ongoing harmonisation with EU rules when necessary to provide for frictionless trade at ports and the border with Ireland. The UK Parliament would have the ability to choose not to incorporate future rules, but accepts there would be “consequences” for trade. “Regulatory flexibility” for services, with the UK recognising neither side will enjoy “current levels of access” to each other’s markets.
UK-EU agreements .. a common rulebook on state aid would be agreed, preventing either side from subsidising their own industries. The UK will commit to maintaining high environmental, climate change, social, employment and consumer protection standards. A joint institutional framework to oversee UK-EU agreements, with the UK agreeing to pay “due regard” to EU case law in areas where the common rulebook applies.
Access to European single market .. a “facilitated customs agreement” would remove the need for customs checks by treating the UK and EU “as if a combined customs territory”. The UK would apply EU’s tariffs and trade policy on goods intended for the bloc but would control its own tariffs and trade for the domestic market. The trade tariffs plan will be phased in as both sides complete the necessary preparations.
Benefits from the plan, according to the Government, include: Frictionless access for goods, protecting supply chains the just-in-time model used by major manufacturers such as carmakers. Avoiding the need for a border between Northern Ireland and Ireland or within the UK. Allowing the UK to have an independent trade policy, with the potential to join countries including Japan, Australia, New Zealand and Canada in Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Ending free movement “giving the UK back control over how many people enter the country”. Ending “vast annual payments” to the EU budget, although “appropriate contributions” will still be made for joint programmes in specific areas.
What do the Tories think of the plan? The Chequers plan has divided the Tory party to say the least. Former Brexit minister Steve Baker has warned the party faces a “catastrophic split” if the Prime Minister presses ahead with the proposals. And former Brexit Secretary David Davis has said there is a “rock-solid core” of around 40 Tory MPs who are prepared to vote down the deal in the House of Commons.