This is the best summary I could come up with:

Rishi Sunak has rejected an EU offer to strike a post-Brexit deal to allow young Britons to live, study or work in the bloc for up to four years.

The prime minister declined the European Commission’s surprise proposal of a youth mobility scheme for people aged between 18 and 30 on Friday, after Labour knocked back the suggestion on Thursday night, while noting that it would “seek to improve the UK’s working relationship with the EU within our red lines”.

The European Commission president, Ursula von der Leyen, suggested the scheme, which would also have allowed young people from within the EU to stay in the UK to work or study for the same period of time, would have been an area in which there could be “closer collaboration”.

The youth mobility scheme would not be a return to freedom of movement and would, if agreed, require a YMS visa, evidence of sufficient funds to sustain a living and health insurance.

“It would be a much needed boost to our economy, especially hospitality and tourism; it would offer great new opportunities to young British people to work abroad; and it would be a crucial step towards fixing our broken relationship with Europe.

“For instance, Geert Wilders [the Dutch populist politician] would be more likely to do a bilateral deal with Britain if it involves annoying Brussels, and then the danger is you end up with governments in the EU negotiating unilaterally with the Brits because it is in their own interests.”

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