SOVEREIGNTY

Net winners and losers... what we asked for and what we got

What we wanted: The key watchword of the deal for Boris Johnson and his Brexit hardliners. They claim the point of Brexit was taking control of our laws and borders. What we got: No 10 says the deal “fully delivers” on the referendum result.

What it means: PM can fairly claim a win, but the symbolism matters most. The text of the deal (in documents released so far) does not mention it. And EU chief Ursula von der Leyen pointedly questioned “what sovereignty means in the 21st century”.

What we wanted: The ability to trade with any country on independent terms.

What we got: The first tariff-free agreement on trade with the EU, worth £668billion, access to the Single Market. What it means: Relief for exporters who feared crippling tariffs and quotas. No high tariffs on EU imports, keeping prices stable. But there will be more bureaucracy with as-yet unknown costs. Johnson claims 58 trade deals with other nations, but most just replicate what we had in the EU.

What we got: 25 per cent over five-and-a-half years, followed by yearly negotiations.

What it means: A major UK concession, or a “sacrifice of fishing” according to Barry Deas of the National Federation of Fishermen’s Organisations. Downing Street says the deal recognises UK sovereignty over fishing waters and opens the way for increases in quotas. The promise is lower price rises.