Brief by Shorts91 NewsDesk / 12:10pm on 19 May 2025,Monday Business
On May 19, 2025, the UK and EU finalized a landmark post-Brexit agreement to reset trade and defence ties. The deal allows UK firms like BAE and Rolls-Royce to participate in the EU's €150 billion defence procurement program. It also reduces trade barriers, eases food and visitor access, and introduces a 12-year mutual fishing arrangement. Prime Minister Keir Starmer projects a £9 billion economic boost by 2040, emphasizing benefits like cheaper food and enhanced energy security. While critics like Nigel Farage oppose the deal, Starmer maintains it preserves UK independence while fostering cooperation. The agreement also opens discussions on youth mobility and the Erasmus+ exchange program. (PC: BBC)
