We are still waiting to see the full text of what the Prime Minister has agreed with Brussels, but here is what I have been able to piece together from what everyone is saying:

  1. We will be in a UK wide Customs Union, meaning that we won’t be able to make trade deals, we won’t have any influence at the WTO, we won’t have any protections against trade dumping and all tariffs will be decided by Brussels.
  2. Regarding Northern Ireland it’s not clear if there will be deeper obligations towards membership of the Single Market for goods, but this will effectively be a regulatory border in the Irish Sea, between Northern Ireland and Great Britain. In other words, the breakup of the UK.
  3. There will be an “independent” panel to arbitrate a “good faith” mechanism. But it’s not clear who will be on this panel and what would happen if there were a deadlock. What is clear is that this is NOT democratic and means that we are NOT taking back control of our laws.
  4. There will be NO end date, or time limit for the “backstop” meaning that the new arrangement will be WORSE than our current relationship with the EU.
  5. The ECJ will still be supreme over laws relating to EU competition, the environment, employment and state aid rules. We will have no control over taxes. We would see Dublin have more say over large parts areas of legislation in the UK than London.
  6. We will pay at least £40 billion, but more likely £60 billion for a transition period that may NEVER end. We will have no control over our money (effectively taxation without representation) and we may end up paying money indefinitely.
  7. Basically we can expect pages of non-binding waffle on a “future framework” of a possible deal which the EU doesn’t even have to finalise or follow through with. A complete and utter load of crap. THE WORST DEAL IN HISTORY.