|Author (Corporate)||Council of the European Union, European Parliament|
|Series Title||Official Journal of the European Union|
|Series Details||L 279I|
Regulation of the European Parliament and of the Council of 24 October 2019 aiming to ensure the effective response of the European Globalisation Adjustment Fund (EGF) in the context of the United Kingdom's withdrawal from the European Union.
The purpose of the European Globalisation Adjustment Fund (EGF) is to support workers made redundant and self-employed persons whose activity has ceased as a result of major structural changes in world trade patterns due to globalisation or as a result of a global financial and economic crises.
This Regulation - which amends Regulation (EU) No 1309/2013 on the European Globalisation Adjustment Fund (2014-2020) - specifies that the scope of the EGF includes workers made redundant in areas, sectors, territories or labour markets suffering serious economic disruption due to the withdrawal of the United Kingdom from the Union (also known as Brexit) without a withdrawal agreement. Such a withdrawal would constitute an important change in the trade relations of the EU and the composition of the internal market, and could therefore be expected to have a significant impact on trade patterns, growth and jobs.
The draft law was adopted by the European Commission on 4 September 2019. The European Parliament's plenary session endorsed it on 22 October and quickly followed by the Council of the European Union, allowing the formal adoption of the proposed Regulation on 24 October.
|Subject Categories||Employment and Social Affairs|
|Subject Tags||Brexit, Labour Market|
|Keywords||European Globalisation Adjustment Fund [EGF]
|Countries / Regions||United Kingdom|
|International Organisations||European Union [EU]|