Britain offers a three-year transition period for fishing fleets

"We can confirm that we have received additional documents from the UK. We are studying them," said the EU official

Britain's economic zone is now part of the common waters of the EU. The United Kingdom receives a fixed tranche based on the amount of stock its fishermen caught during a reference period between 1973 and 1978. Under the new system proposed by the UK, the two parties would agree on the percentage of shared shares linked to each of its European economic zones each year. The catch quotas would be organized according to this percentage.

The lack of an annual agreement on catches could lead to EU fleets being blocked outside UK waters. France is particularly concerned about the impact on its fishing communities and has taken a 'maximalist' position that the status quo should be protected. While the policy provides the extra catches promised as a Brexit bonus, it is understood that the government is also making new commitments to maintain EU standards of sustainability and cooperation in data collection. The offer was part of five new draft negotiating documents submitted by the government, including legal texts on fisheries, "level playing field", law enforcement and judicial cooperation, civil nuclear cooperation and social security coordination.