LONDON • Here are the key points of the British government's proposal agreed for the future relationship with the European Union after Brexit, centred on a new "free trade area for goods".
COMMON RULE BOOK FOR GOODS
Britain and the EU would maintain a "common rule book for goods including agri-food", with London agreeing in a treaty to "ongoing harmonisation" only with those EU rules necessary to reduce friction at the border.
FLEXIBILITY FOR SERVICES
Britain would retain regulatory flexibility for its dominant service sector, "where the potential trading opportunities outside the EU are the largest", in return for restricted access to EU markets.
STANDARDS AND COMPETITION
Britain would legally commit to a common rule book on state aid rules, and establish "cooperative arrangements between regulators" on competition.
The EU and Britain would establish a "joint institutional framework" to ensure the consistent interpretation of legal agreements between them.
CUSTOMS ARRANGEMENT AND FREE TRADE
Britain proposes that it would "apply the UK's tariffs and trade policy for goods intended for the UK, and the EU's tariffs and trade policy for goods intended for the EU".
This arrangement would eliminate the need for customs checks and controls between Britain and the EU, "as if a combined customs territory", while giving Britain the right to control its own tariffs and strike trade deals with non-EU nations.
FREE MOVEMENT OF PEOPLE
Britain would end free movement of people from the EU, but proposes British and EU citizens continue to travel and apply for study and work in each other's territories.
NO DEAL OPTION
The government restated that it is in the interests of both sides to reach an agreement.
But "given the short period remaining before the necessary conclusion of negotiations this autumn, we agreed preparations should be stepped up" for a range of potential outcomes, including that no deal is reached.