Following the EU Summit on 15-16 October 2020, UK Prime Minister Boris Johnson has stated that the UK should get ready for an Australian-style exit from the EU for the end of the current transition period, meaning an exit without a comprehensive deal on future relations. “Unless there’s a fundamental change of approach, we’re going to go to the Australia solution, and we should do it with great confidence,” Mr Johnson said.

This announcement comes on the foot of no agreement being reached between the two blocs on their future trade and political relationship. However, i, EU27 leaders have called for EU chief negotiator to continue talks with the UK, with the onus on the UK to make the necessary moves to make an agreement possible. The statement also urges the EU and its member states to step up preparations to protect their interests in the event the UK leaves the single market without a deal.