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This article is brought to you in association with the European Commission.
The European Commission has put forward its proposal for a Brexit Adjustment Reserve, as agreed by the European Council in July, to help counter the adverse economic and social consequences – at the end of the transition period on 31 December 2020 – in the Member States and sectors that are worst affected. It will have an overall budget of €5 billion. The Reserve will support businesses and employment in affected sectors. It will assist regions and local communities, including those dependent on fishing activities in UK waters. It can also assist public administrations for the proper functioning of border, customs, sanitary and phytosanitary controls and to ensure essential services to the citizens and companies affected.