Ok, here's my first bash at how I think UK-EU fisheries will be managed in future now we have the agreement

It’s quite complicated in parts, so would appreciate any corrections…

@StevePeers @BD_Stew @AntonSpisak (& others)

1) QUOTAS: For the next 5.5 years (until end-June 2026), each side’s quotas are set out in the agreement

This amounts to a 25% value reduction for the EU gradually over this period

2) These quotas shares set a new baseline for 2026, but they will be up for negotiation from thereon

3) CATCH LEVELS: However, they will still both need to negotiate overall allowed catch levels for each year, starting in 2021

By 31 Jan, a schedule must be agreed for talks, culminating in final agreement by 10 December (this fits in with the internal EU fisheries negotiation)

4) PROVISIONAL ACCESS: If there’s no agreement by 20 December, each side will apply a provisional allowable catch level for 1 January, defined by the International Council for the Exploration of the Sea based on scientific recommendations