Stefano F. Fugazzi (ABC Economics) reports
London (20 February 2016) – According to the BBC, Prime Minister David Cameron struck a deal with the European Union to give the United Kingdom a ‘special status’. The Prime Minister will now “campaign with his “heart and soul” to stay in the union.”
As noted by the BBC, the new deal includes:
- Cuts in child benefit for the children of EU migrants living overseas – applicable immediately for new arrivals and from 2020 for the 34,000 existing claimants
- The amending of EU treaties to state explicitly that references to the requirement to seek ever-closer union “do not apply to the United Kingdom”, meaning Britain “can never be forced into political integration”
- A seven-year “emergency brake” on migrants’ in-work benefits in cases of “exceptional” levels of migration – recognised by the European Commission as happening in the UK now. Brake must be released after seven years, without exception.
- The ability for the UK to enact “an emergency safeguard” to protect the City of London, to stop UK firms being forced to relocate into Europe and to ensure British businesses do not face “discrimination” for being outside the Eurozone.