IoM Welcomes EU's Draft Transitional Brexit Agreement
by Jason Gorringe, Lowtax.net, London
05 March, 2018
The Isle of Man Government has welcomed the draft text of a proposed "Brexit" withdrawal agreement between the UK and EU, which was released by the European Commission last week.
The draft agreement indicates the UK, and therefore the Isle of Man, will retain its current relationship with the EU during a so-called "transition period," which is expected to run for two years from March 2019. During this period the UK will remain within the EU customs union and be covered by EU law. This will allow for a smoother and more orderly withdrawal of the UK from the EU, with goods continuing to move freely between the UK and the EU, and also between the Isle of Man and EU.
The Isle of Man Government has also welcomed the UK's published offer, made last week, on the rights of EU citizens to remain in the UK following its departure from the EU. The island government says a similar offer has been made to EU nationals resident in the Isle of Man, giving certainty to both resident EU nationals and employers.
Chief Minister Howard Quayle commented: "The two announcements show that our work with the UK on ensuring our interests are represented during EU negotiations is working."
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