Regulation (EU) 2021/1755 establishing the Brexit Adjustment Reserve

Summary:

Regulation (EU) 2021/1755 - adopted by the European Union on 6 October 2021 - setting out the establishment of a Brexit Adjustment Reserve.

Further information:

The Brexit Adjustment Reserve aims to support the countering of economic and social consequences of the United Kingdom's withdrawal from the European Union (EU) in February 2020. This Reserve is to support businesses and employment in affected sectors following the end of the transition period as agreed by the Withdrawal Agreement signed between the two sides. This Reserve has an overall budget of €5 billion and its creation was politically agreed by the European Council in July 2020.

This proposal was put forward by the Commission on 25 December 2020. The Council of the European Union adopted its general approach on 29 April 2021. The European Parliament's relevant committee adopted a negotiating position on 25 May. An informal agreement between the co-legislators on a compromise text for this file was reached on 17 June. This was formally endorsed by the Parliament on 15 September, followed by the Council on 28 September. The Act was signed by the co-legislators on 6 October 2021 and published in the Official Journal on 8 October 2021.

Official

EUR-LEX: COM(2020)854: Proposal for a Regulation establishing the Brexit Adjustment Reserve https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2020:854:FIN

European Parliament: Legislative Observatory: Procedure File for Proposal on Establishing the Brexit Adjustment Reserve (2020/0380(COD)) https://oeil.secure.europarl.europa.eu/oeil/popups/ficheprocedure.do?lang=en&reference=2020/0380(COD)

European Commission: Regional Policy: Brexit Adjustment Reserve https://ec.europa.eu/regional_policy/en/funding/brexit-adjustment-reserve/

European Commission: Press Release, 25/12/2020: Brexit: the Commission proposes the creation of a Brexit Adjustment Reserve https://ec.europa.eu/commission/presscorner/detail/en/ip_20_2536

European Commission: Questions and Answers: the Brexit Adjustment Reserve (25 December 2020) https://ec.europa.eu/commission/presscorner/detail/en/qanda_20_2537

Irish Government: Press Release, 13/01/2021: Donohoe welcomes Commission’s proposal on Brexit Adjustment Reserve allocations https://www.gov.ie/en/press-release/eb1b2-donohoe-welcomes-commissions-proposal-on-brexit-adjustment-reserve-allocations/

The Irish Times, 17/03/2021: Irish share of €5bn EU Brexit fund could be slashed under French plan https://www.irishtimes.com/business/economy/irish-share-of-5bn-eu-brexit-fund-could-be-slashed-under-french-plan-1.4512255

Council of the European Union: Press Release, 29/04/2021: Council ready for talks on €5 billion Brexit adjustment reserve https://www.consilium.europa.eu/en/press/press-releases/2021/04/29/council-ready-for-talks-on-5-billion-brexit-adjustment-reserve/

European Parliament: Press Release, 25/05/2021: Brexit: €5 billion to help EU countries mitigate social and economic impact https://www.europarl.europa.eu/news/en/press-room/20210523IPR04602/

Council of the European Union: Press Release, 17/06/2021: Preliminary deal on €5 billion fund to mitigate the effects of Brexit https://www.consilium.europa.eu/en/press/press-releases/2021/06/17/preliminary-deal-on-5-billion-fund-to-mitigate-the-effects-of-brexit/

Irish Government: Department of Finance: Press Release, 17/06/2021: Minister Donohoe welcomes agreement reached on Brexit Adjustment Reserve https://www.gov.ie/en/press-release/90099-minister-donohoe-welcomes-agreement-reached-on-brexit-adjustment-reserve/

EPP Group: Newsroom, 17/06/2021: Agreement on the “Brexit Adjustment Reserve”: “Quick assistance for regions and businesses most affected by Brexit” https://www.eppgroup.eu/how-we-make-it-happen/with-eu-countries/belgium/news/agreement-on-the-brexit-adjustement-reserve

European Parliament: Press Release, 15/09/2021: Parliament paves the way for special fund to mitigate the impact of Brexit https://www.europarl.europa.eu/news/en/press-room/20210910IPR11916/

Council of the European Union: Press Release, 28/09/2021: Council adopts a €5 billion Brexit adjustment reserve https://www.consilium.europa.eu/en/press/press-releases/2021/09/28/council-adopts-a-5-billion-brexit-adjustment-reserve/

European Commission: Regional Policy: News, 06/10/2021: Commission welcomes the adoption of the Brexit Adjustment Reserve https://ec.europa.eu/regional_policy/en/newsroom/news/2021/10/10-06-2021-commission-welcomes-the-adoption-of-the-brexit-adjustment-reserve

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News

Reuters, 10/07/2020: EU's Michel proposes 5 billion euros Brexit "adjustment fund" https://uk.reuters.com/article/britain-eu-michel/idUSB5N2B400O

The Irish Times, 21/07/2020: Ireland will be ‘top of list’ for EU Brexit fund https://www.irishtimes.com/news/politics/ireland-will-be-top-of-list-for-eu-brexit-fund-1.4309745

Agriland, 29/12/2020: Commission puts forward proposal for Brexit Adjustment Reserve https://www.agriland.ie/farming-news/commission-puts-forward-proposal-for-brexit-adjustment-reserve/

Agriland, 12/01/2021: Ireland to get over €1 billion from EU’s Brexit Adjustment Reserve https://www.agriland.ie/farming-news/ireland-to-get-over-e1-billion-from-eus-brexit-adjustment-reserve/

EurActiv, 13/01/2021: Ireland nets 25% of EU’s fund to cover Brexit costs https://www.euractiv.com/section/uk-europe/news/ireland-nets-25-of-eus-fund-to-cover-brexit-costs/

EurActiv, 18/03/2021: EU’s fund to cover Brexit costs urgently needed, MEPs say https://www.euractiv.com/section/economy-jobs/news/meps-discuss-brexit-adjustment-reserve-fear-poor-distribution-of-funds/

Agriland, 30/04/2021: Council ‘ready for talks’ on €5 billion Brexit fund https://www.agriland.ie/farming-news/council-ready-for-talks-on-e5-billion-brexit-fund/

EurActiv, 30/04/2021: EU ministers agree stance on €5bn fund to cover Brexit costs https://www.euractiv.com/section/uk-europe/news/eu-ministers-agree-stance-on-e5bn-fund-to-cover-brexit-costs/

RTÉ News, 17/06/2021: Ireland to receive biggest share of EU Brexit fund https://www.rte.ie/news/business/2021/0617/1228773-ireland-to-receive-biggest-share-of-eu-brexit-fund/

The Irish Times, 17/06/2021: State ‘much closer’ to receiving €1bn share of EU’s Brexit fund https://www.irishtimes.com/news/politics/state-much-closer-to-receiving-1bn-share-of-eu-s-brexit-fund-1.4596667

Malta Today, 18/06/2021: Malta to receive €40.5 million in EU Brexit adjustment funds https://www.maltatoday.com.mt/news/ewropej/110341/malta_to_receive_405_million_in_eu_brexit_adjustment_funds#.YTctHY5KiUk

The Irish Times, 15/09/2021: European Parliament approves over €1bn in Brexit subsidies for Ireland https://www.irishtimes.com/news/politics/european-parliament-approves-over-1bn-in-brexit-subsidies-for-ireland-1.4675158

Agriland.ie, 28/09/2021: FDI welcomes approval of Brexit adjustment reserve https://www.agriland.ie/farming-news/fdi-welcomes-approval-of-brexit-adjustment-reserve/

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Commentary and Analysis

EPRS: Briefing, July 2021: Brexit Adjustment Reserve https://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_BRI(2021)690611

EPRS: At a Glance, September 2021: Support for the EU fishing sector through the Brexit Adjustment Reserve https://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_ATA(2021)696191

EPRS: At a Glance, September 2021: Brexit Adjustment Reserve https://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_ATA(2021)696201

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