PM: We have completed the biggest trade deal yet

The PM have announced that the UK and EU have reached a trade deal, after months of tense talks and missed deadlines.

Johnson says the UK has “completed the biggest trade deal yet”.

The treaty will apply from 1 January 2021 and take over from the arrangements under the transition period, which has seen the UK continue to follow most EU rules since Brexit day.

He says the deal will allow exporters to do even more business “with our European friends”.

He says “the British people knew it was doable but were told it was impossible.

“We have taken back control of every jot and tittle of our regulation in a way that is complete and unfettered.”

The jurisdiction of the European Court of Justice will come to an end he adds.

The PM says “for the first time since 1973 we will be an independent costal state with full control of our waters”.

He says fishing communities will be helped with £100m to modernise their fleets.

On negotiations, Mr Johnson says: “Of course the arguments were sometimes fierce, but this I believe is a good deal for the whole of Europe.

“It will not be a bad thing in my view for the EU to have a prosperous, dynamic and contented UK on [their] doorstep.”

There will be “mutual respect and mutual recognition”.