UK’s Davis: Massively higher probability that there will be a Brexit deal

Headlines from the UK Brexit Minister David Davis are crossing the wires now, as he speaks in the British Parliament.  

Key Points:

The motion of Brexit deal will be amendable.

If parliament rejects deal, negotiation will fall.

Doesn't expect legal text on future relationship.

Expects political declaration on future relationship, will not be in draft/legal text/treaty.

Don't intend for trade talks to extend into transition phase.

Talks on trade are given a time between October 2018 to March 2019.

Agreement on Ireland not needed until October.

Best way to avoid Irish border is with a good trade deal.

EU has taken an open position on how to resolve the customs union issue.

More likely to see a 'bare-bones' deal.

Compared to a no deal scenario with the EU.

Hopes that first trade deal signed during implementation period will come into force the day after said period ends.

Irish border is dominating Brexit discussions at the moment.

EU's Irish backstop proposal isn't acceptable and it breaks up the UK.

Future relationship agreement must be "substantive".

Massively higher probability that there will be a Brexit deal.