1. There's a lot still that we don't know, + we still haven't seen the text of the full deal - 500 pages plus another 1,000 or so in annexes, footnotes and the rest but... a thread, as it's a special festive occasion (and frankly I hope you are not reading about Brexit right now)

2. It is a massive achievement for both sides that they have done such a huge trade deal on the timetable that was said to be impossible at the start

3. Both sides have avoided huge political embarassment and potential disruption by making it happen and putting pragmatism over firm principle

4. Yes, if you think it's a terrible idea, it's a trade deal and change of status quo that will put up barriers for business - kinda the opposite for what they are meant to do

5. But that's been clear since the election result last year when chunky majority was gained for a position to leave the Single Market and the EU

6. Whatever your personal view, there's a sense of vindication in camp of those who campaigned to leave the EU - they got a free trade deal with zero quotas and zero tariffs (altho there may be some before you scream) but the UK will not be under European law

7. It's no coincidence that David Frost's number 2, Oliver Lewis, wrote the Vote Leave manifesto - No 10 believes the PM, who was propelled to his position by the VL tribe, has been able to keep his central Brexit promises

8. Look out for the 'rebalancing clause' when the deal finally emerges - the mechanism where either side can request a change to the deal, or seek to punish the other side if they believe they are breaking the agreement

9. In short, (ha) the UK side believes it means they have been able to achieve 2 clear objectives - the deal applies to both sides, it's reciprocal, but there is the possibility of exit if things go wrong, without collapsing the whole shebang

10. But it's Christmas Eve - so I suspect you agree that's enough for now - the vote in Parliament is set for the 30th - result not in doubt, but the theory that's been agreed tonight, will only be tested in years to come

11. Happy Christmas !