The withdrawal agreement between the United Kingdom and the European Union has been a hot topic since it was first announced in November 2018. With the deadline for Brexit fast approaching, many people have questions about what the withdrawal agreement means and what it could mean for the future of the UK and the EU. In this article, we`ll answer some of the most common questions about the withdrawal agreement.

What is the withdrawal agreement?

The withdrawal agreement is a legal text that sets out the terms of the UK`s departure from the European Union. It covers issues such as citizens` rights, the financial settlement, and the transition period.

What is the transition period?

The transition period is a time-limited period from 1 February 2020 until 31 December 2020, during which the UK will no longer be a member of the EU but will continue to follow its rules and regulations. This is to allow time for negotiations on the future relationship between the EU and the UK.

What is the financial settlement?

The financial settlement is the sum of money that the UK will pay to settle its financial obligations to the EU. It covers things like outstanding budget contributions and payments to EU programs and projects.

What about citizens` rights?

The withdrawal agreement guarantees the rights of EU citizens living in the UK and UK citizens living in the EU. This includes the right to live and work in their current location, access to healthcare, and social security benefits.

What happens if the withdrawal agreement is not approved?

If the withdrawal agreement is not approved, there could be a no-deal Brexit, which would mean that the UK leaves the EU without any agreement in place. This could have serious consequences for trade, immigration, and many other areas.

What is the current status of the withdrawal agreement?

The withdrawal agreement was agreed upon by the UK and the EU in November 2018, and was approved by the UK Parliament in January 2020. It was then ratified by the EU on 30 January 2020.

In conclusion, the withdrawal agreement is a crucial part of the Brexit process, and its impact on the future of the UK and the EU cannot be overstated. While there are still many uncertainties surrounding Brexit, understanding the withdrawal agreement and its implications is an important step in preparing for what lies ahead.