The political declaration on the future framework for the relationship between the UK and the EU after Brexit was published on 22 November 2018. At 26 pages long, it offers the first concrete indication of what a UK-EU trade deal might look like. But with lots of detail still to finalise, it also leaves significant room for manoeuvre.
The table below presents the broad range of trading possibilities, ranging from continued EU membership to trade on WTO terms, passing through the UK Government’s unprecedented Chequers plan en route. Based on IfG analysis of the political declaration, the area within the yellow border remains on the table for when negotiations on the future relationship get underway after March 2019.
Not all individual elements within the yellow border can be combined through a ‘pick and mix’ approach. The document is not legally binding, meaning there is nothing to stop significant changes in position from either side.