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EU YEAR'S DAY

EU confirms it wants a 21-month Brexit transition period – with Britain finally free of EU rules on New Year’s Day 2021

EU chiefs have officially confirmed that they want a 21-month Brexit transition deal, which will see us finally free of EU rules by New Years Day 2021.

Michel Barnier said today that it would be helpful to have a "short and specific" interim period in which to help thrash out the guidelines for a trade deal.

 Michel Barnier wants Britain to be officially out of the bloc by January 1 2021
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Michel Barnier wants Britain to be officially out of the bloc by January 1 2021Credit: EPA

Theresa May outlined in her Florence speech that she wanted an implementation period of "up to two years" to cushion our exit and ensure businesses have the time to get their affairs in order.

Brussels wants it to end by December 31 2020 to align with the current EU budgets.

The EU's chief negotiator, Mr Barnier, told a press conference this morning that it would be "useful for Britain to get prepared for the kind of challenges they will face... and for the new relationship."

And he said that Britain must "respect and safeguard the principles" of the EU during this time - which will involve allowing unlimited EU migration and sticking to all of Brussels' rules.

 Theresa May and Jean-Claude Juncker recently reached a deal on taking talks forwards
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Theresa May and Jean-Claude Juncker recently reached a deal on taking talks forwardsCredit: EPA

He said: "During a transition period the UK will keep all the benefits obligations and duties of the Single Market and our common policies.

"Businesses don't want to have to adapt twice."

He urged them to "start preparing for this right now".

Mr Barnier said talks on our future relationship would officially begin in March next year, after Mrs May secured agreement for phase two of Brexit negotiations to finally begin.

Brussels want an agreement on the withdrawal, the transition, and an outline of a future relationship to be ready for October 2018 so it can be ratified by all parts of the EU and the British parliament.

Victory for fishermen as EU gives in on transition row

BRITAIN will be able to take control of our fishing waters the day we quit the EU, it has emerged.

The UK can ignore European fish quotas during the Brexit transition period in a victory for Michael Gove.

Eurocrats are set to exempt fishing from the transition deal because it does not affect trade between the EU and UK, according to The Times.

That means the Government does not have to wait until 2021 to strike a new deal on how we manage stocks in British waters.

Mr Gove, the Environment Secretary, has previously vowed to escape EU jurisdiction over fishing in March 2019 when we officially leave the bloc.

Fishing bosses have long raged against restrictive European rules which limit how the industry can operate.

But Mr Barnier has ruffled feathers this week for his tough stance on banks post-Brexit.

Mrs May insisted that a bespoke deal WAS possible with the bloc - and one that included Britain's booming banking sector.

But the EU chief said that an agreement "doesn't exist" which includes financial services.

And he reiterated today that any trade deal we sign with them must be "along the lines" of the Canada, South Korea and Japan deals.

It was also revealed today that Brussels bosses are set to demand tough new rules for British bankers to force them to play by their rules after Brexit.

In new laws being proposed, the Commission will make it even harder for countries outside of the bloc to have the same level of access to their markets.

Theresa May promises Britain is on the road to a prosperous Brexit
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