The United Kingdom officially broke away economically from the European Union at 23:00 on Thursday.
The official hiatus comes after the UK reached an agreement last week defining its future economic relationship with the EU, ensuring that the UK will not endure a ‘hard’ Brexit without an agreement in January.
The UK’s departure from the EU’s internal market is, according to The Associated Press, the biggest economic change for the country since World War II.
“We have our freedom in our hands, and it is up to us to make the most of it,” British Prime Minister Boris Johnson said in the New Year video, calling it a wonderful moment for this country. ‘
There will be many who will be only too happy to say goodbye to the fury of 2020.
But it was also the year when we rediscovered a spirit of togetherness, of community.
In 2021 we have our freedom in our hands and it is up to us to make the best use of it. Happy New Year! pic.twitter.com/gDRXe2SuCb
– Boris Johnson (@BorisJohnson) 31 December 2020
This break comes 11 months after the UK officially left the EU and entered into a ‘transition period’.
Although the UK closure measures restrict mass rallies, some Brexit supporters gathered outside parliament to schedule the news at 11pm, according to the AP.
The agreement announced last week did not place tariffs or quotas on the UK, but companies and traders will now face customs declarations and border controls.
The agreement also allows each party to use an independent grant adjudicator to resolve disputes.
One of the most important provisions for both parties was an agreement on fishing rights for coastal towns in the United Kingdom and the EU.
Both the UK and the EU have agreed to “create a favorable climate for trade development and investment between them”, and the UK has stated that they have new rules for EU fishing in British waters for 5 ½ years will build in.