The Government has confirmed a post-Brexit trade deal has been agreed today between UK and EU negotiators.

It comes after months of talks and frantic last-minute wrangling, and has already seen the pound rise sharply following 'no-deal' fears at the start of the week.

The deal was secured today on Christmas Eve, a week before current trading arrangements expire.

A Downing Street source insisted that "everything that the British public was promised during the 2016 referendum and in the general election last year is delivered by this deal".

They added: "We have taken back control of our money, borders, laws, trade and our fishing waters.

"The deal is fantastic news for families and businesses in every part of the UK. We have signed the first free trade agreement based on zero tariffs and zero quotas that has ever been achieved with the EU.

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"The deal is the biggest bilateral trade deal signed by either side, covering trade worth £668bn in 2019."

Prime Minister Boris Johnson and European Commission president Ursula von der Leyen were in close contact over recent days to help get the deal over the line.

But negotiations led by the EU's Michel Barnier and the UK's Lord Frost continued throughout the day as final details were hammered out.

Ambassadors from the European Union member states will not be asked to look at a Brexit deal today.

Labour leader Sir Keir Starmer has said his party will vote in favour of the Government's "thin" EU deal, saying that no deal is simply not an option.

The fervent pro-European said it was "in the national interest" to support the agreement despite concerns over the terms negotiated by the Government.

Sir Keir said: "At a moment of such national significance, it is just not credible for Labour to be on the sidelines.

"That is why I can say today that when this deal comes before Parliament, Labour will accept it and vote for it.

"But let me be absolutely clear - and say directly to the Government - up against no deal, we accept this deal, but the consequences of it are yours."

He said no deal would lead to "devastating" social, economic and political consequences, and said it was not right for Labour to abstain.

Sir Keir denied the suggestion the decision to vote for the deal was in response to appease of large swathes of Brexit-supporting Labour voters at the last general election.

He said: "These are difficult and tough decisions.

"But in the end there is only one choice - a binary choice here.

"Either we support the deal or we support the alternative, which is no deal.

"We have always been against no deal and that is why we will vote for this deal.

"I think many people will see this as a tough but necessary decision on behalf of the Labour Party, the Labour movement and on behalf of our country."

Sebastian Fischer, a spokesman for the German presidency of the Council of the EU, said no meeting would be called due to the "ongoing" negotiations.

"At the same time we have asked EU ambassadors to be available during Christmas period," he said.

The 27 EU states will be required to agree to any deal that is thrashed out by Brussels' officials and the UK.