While the tax, which charges firms for the greenhouse gas emissions in their products, begins on Jan. 1, payments are not due until 2027, by which time the U.K. is expected to be exempt.
But it is not yet clear whether British firms will have to make back payments on previous imports once the deal is secured, and there is no sign of any deal to bridge the gap.
Widening horizons
EU Relations Minister Nick Thomas-Symonds, who negotiated the agreement, said the move was “a huge win for our young people” and would break down barriers and widen horizons so that “everyone, from every background, has the opportunity to study and train abroad.”
“This is about more than just travel: it’s about future skills, academic success, and giving the next generation access to the best possible opportunities,” he said.
“Today’s agreements prove that our new partnership with the EU is working. We have focused on the public’s priorities and secured a deal that puts opportunity first.”
The expected cost of the U.K.’s membership of the Erasmus+ program in 2027 will be £570 million.