Britain will subscribe to “level playing field” principles, hewing closely to European Union standards and regulations for the foreseeable future. Should disputes arise, they will be settled through arbitration rather than the automatic penalties that the European Union had been demanding. The deal does not cover services, such as London’s mighty finance sector, which account for about 80 percent of the British economy. Around 200,000 people have taken part in the program each year, including roughly 15,000 British university students. Mr. Johnson had said in January that the program would be safe after Brexit, but changed his position on Thursday, saying that the larger number of Europeans coming to study in Britain meant that Britain lost money in the program.

Source: International New York Times December 24, 2020 14:57 UTC