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23 October 2017

The Guardian: No Brexit transition period without final EU trade deal, Theresa May tells MPs


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Theresa May has signalled there will be no transitional deal to prevent a “cliff-edge” Brexit unless the UK settles its final trading relationship with the EU next year, prompting warnings that businesses will start leaving the country before then.


The prime minister surprised MPs when she told them in a Commons debate that there could be no “implementation period” unless the UK had settled its “future partnership” with the EU, which is unlikely to happen until next summer at the earliest and may fail to be agreed at all.

Her remarks alarmed MPs fighting against a hard Brexit. Business groups have been intensively lobbying for the government to agree the terms of transition with the EU by Christmas, before companies make their financial plans for 2018.

Labour warned that the delay in agreeing a transitional period was “a recipe for job losses, businesses disinvesting and an economic downturn”, while the backbench Tory MP Nicky Morgan called for more clarity for businesses. [...]

Full article on The Guardian



© The Guardian


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