Gibraltar Chief Minister said a newly reached agreement, which will allow Britons living in Gibraltar to move freely across Europe, will help reverse many of the “harmful consequences of Brexit”. Fabian Picardo noted that the post‑Brexit arrangement, concluded last week after years of complex negotiations, is expected to take effect by the summer of 2026.

About 96 per cent of Gibraltarians voted against Brexit in 2016, and many residents were stunned when the wider UK electorate chose to leave the European Union. For people living on the Rock, the result carried immediate and serious concerns. Gibraltar’s economy relies heavily on the roughly 15,000 Spanish workers who cross the border from neighbouring towns each day to staff its businesses, services and industries. Any form of hard Brexit that introduced strict border checks or restricted movement would have threatened this daily flow of workers, potentially causing major disruption to the territory’s workforce, economy and way of life.

Mr Picardo told iPaper: “This will in effect undo the damage that Brexit did to Gibraltar and that we have been able to keep at bay with these negotiations,” he told The i Paper. According to the officials, the final deal must still be agreed by the UK and EU parliaments.

Mr Picardo said he believed the deal would attract companies from around the world to Gibraltar. He said: “I think this is going to give a real economic boost to Gibraltar, to the area around Gibraltar. It is going to take the economy of the region into a new level of achievement.

“I think it will

said he believed the deal would attract companies from around the world to Gibraltar.

“I think this is going to give a real economic boost to Gibraltar, to the area around Gibraltar. It is going to take the economy of the region into a new level of achievement,” he said.

“I think it will really become a very attractive place for companies from around the world to do business in Europe.”

really become a very attractive place for companies from around the world to do business in Europe.”

He further added that the deal is likely to bring more companies from around the world to Gibraltar. He continued: “I think this is going to give a real economic boost to Gibraltar, to the area around Gibraltar. It is going to take the economy of the region into a new level of achievement. I think it will really become a very attractive place for companies from around the world to do business in Europe.”

It comes as Health Secretary, Wes Streeting, recently suggested that Britain might consider joining a customs union with the EU, saying the country had suffered a “massive economic hit” from Brexit.

He argued that the UK benefited greatly from being in the single market and customs union, and said both the country and the Government now want a closer trading relationship with Europe.