S H E A R M A N & S T E R L I N G L L P | 1 3 1
STATE AID
The draft agreement on the U.K.'s withdrawal
from the EU (the Draft Withdrawal Agreement),
published on November 14, 2018, still sets out
the only agreed terms of the divorce element
of the U.K.'s withdrawal — despite the delays
and extensions.
It provides for a transition period (currently
up to December 31, 2020 — although this
date will presumably be amended to take
account of extensions to the Article 50
process) during which it will be 'business
as usual'. The Draft Withdrawal Agreement
also contains a Protocol designed to maintain
an open border between Northern Ireland (NI)
and the Republic of Ireland (RoI), should the
U.K. leave the transition without securing
a deal to govern its future relationship with
the EU (this is known as the Irish backstop).
Continued overleaf
U.K. STATE AID
IN A POST-BREXIT
WORLD
BY JAMES WEBBER AND MARK STEENSON
