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May reassures businesses of Brexit transition deal

Prime minister tells business leaders the country will not fall over a Brexit ‘cliff-edge’ in March 2019 and that transitional measures will be in place.

May reassures businesses of Brexit transition deal

Prime minister Theresa May has reassured businesses the government will not allow industries to fall off a ‘Brexit cliff’ and is pushing for a transitional deal.

May told business leaders yesterday she was hoping to secure a transition deal which could last two or more years after 2019, according to a Financial Times report.

Talks between UK and EU negotiators continued this week with both sides struggling to reach an agreement on the UK’s divorce bill.

The chancellor Philip Hammond is pushing for a transitional deal but has been faced with opposition from within the cabinet.

During a transitional deal, there could be EU budget contributions to pay and freedom of movement, the Financial Times report said.

Of the meeting between May and business leaders, a No 10 spokesman told the Guardian: ‘The prime minister reiterated that the government’s overarching goal is for a smooth, orderly exit culminating in a comprehensive free trade deal with the EU, with a period of implementation in order to avoid any cliff-edges.’

Earlier this week the Financial Conduct Authority’s (FCA) chief executive Andrew Bailey indicated the regulator is talking to the government about guaranteeing some form of transitional arrangement for firms following the UK's departure from the EU.


8 comments so far. Why not have your say?


Jul 21, 2017 at 09:52

This very statement from the "goddess on high" shows the futility of leaving the EU I didn't realise before that turkeys voted for christmas.

All those who voted leave will realise within the next five years the error they have made when they are living in" little england " Hopefully then oberfuhrer May will not be in power and we will have someone at least with a shred of common sense at the helm

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Donald Chan

Jul 21, 2017 at 20:09

I was living in "little England" before the EU was invented. I look forward to it again.

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Jul 21, 2017 at 20:57

As usual UK side is living with the delusion it can pick and choose what Brexit deal it end up with. If EU decides its cliff edge for UK, then that's what it'll be

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Donald Chan

Jul 21, 2017 at 21:15

It does amaze me how the Brexit topic brings out those who take the utmost delight in denigrating their own country. (I assume it's their country).

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Jul 22, 2017 at 07:01


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Jul 23, 2017 at 12:02

@ Spartacus

I don't think anyone in the Government believes we can pick and choose but surely you have to go into these talks showing some ambition and make it clear subsequently that we made reasonable requests and offers but the EU was just out to get us and would offer nil.

Does anyone think the EU courts should have jurisdiction in GB? Would any other country stand for it ? Probably not but I don't hear any pro remain politicians or voters voicing this opinion.

At the moment the EU believes the nastier it is to GB the more criticism in GB will fall not on it but on the Govt. Hopefully eventually public and maybe to an extent, political opinion will turn against EU (though I'm not confident) and we can accept a complete break as the best option and take the short or medium term hit if it occurs.

So many of those remain voters who have a feeling of entitlement (i.e. that they and their votes should count for more than lesser citizens) are hoping that Britain fares badly if we do eventually leave the EU and don't want constructive negotiations. They still hope to subvert the Referendum result that they would have expected the losers to have respected had it been different.

Paradoxically if this were GB attempting to damage another country economically in this way most of the same politicians and remoaners would be objecting.

The Labour Party is being particularly unhelpful. It supposedly accepts we leave EU, single market and customs union for election purposes yet when it could and should be supporting GB it is more concerned about making political capital from this and probably hoping to be able to hold another referendum at some point.

I don't think we'd find this lack of national and political cohesion if it were France or any other country which was leaving the EU on a 52% vote.

In the past most British people and politicians would not have accepted malicious treatment by another state but clearly that no longer applies and many now welcome it.

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Jul 23, 2017 at 12:11

Five years is not a long time (till 2022 i.e. Brexit plus wished-for short transition) -- though it is for me personally, as I'll be 83 myself. By 2022 we'll all wake up from this nightmare of Brexit -- and will have started arguing passionately for "exit from Brexit". Logic dictates it; the march of humanity dictates it; and the shrinking global village will dictate it. Let's us do this in harmony amongst ourselves and with no malice towards Europe (as I am reflecting on the current mess, sitting in my little villa in the south of France this summer).

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Donald Chan

Jul 23, 2017 at 13:07

Lot of dictating going on, espinasseur. Can't accept any of the three propositions.

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