Great Britain’s Access to EU Defense Fund
Great Britain is expected to have access to the EU’s defense fund before the end of the year, but some member states are pushing for limits due to the "wounds of Brexit". The EU’s defense fund, worth €150 billion, provides loans to EU nations and other participants to strengthen their defense.
Technical Details Still to be Sorted
The technical details of the security measures for Europe still need to be sorted out, according to Kaja Kallas, the EU’s High Representative for Foreign Affairs. The Safe instrument has just been completed between institutions, but it must also be approved by the European Council before implementation can begin.
Limitations on Access
Some member states believe that the UK should have limited access to the fund, with reports suggesting that France is pushing for the UK to be limited to 85% of the fund. However, Kaja Kallas believes that the UK should have access to the fund, stating that "we should do both. We should invest more in European industry. But we should also work with our external partners such as Great Britain".
Investment in European Industry
Kallas emphasized that the EU should invest more in European industry, but also work with external partners like the UK. The EU has not discussed the percentage of access, as the fund is "due to the skills". Kallas believes that this is more important than numbers.
Benefits for the UK
The UK’s access to the Safe fund is expected to support thousands of British jobs. The defense agreement is part of a new trade agreement between the UK and the EU, which also includes increased access to EU regeneration for British pensions in Europe, no health certificates for travel to Europe, and reduced bureaucracy for British imports and exports.
Trade Agreement
The new trade agreement between the UK and the EU is seen as a significant development, with the UK having the best trade agreements with the EU, the US, and India. The agreement is expected to make the UK a more attractive place for investment and business, with preferred trade agreements with the world’s largest economies.
