Business

Leak suggests PM pushing for open-ended transition

The UK government has softened its position around how long a Brexit transition period should last, a leaked document appears to suggest.

According to Bloomberg, Theresa May is poised to ask the EU to reconsider its stance that transition should end on New Year's Eve 2020, suggesting that the phase should last as long as it is needed.

The document, which is expected to be formally published later today, states: “The UK believes the period’s duration should be determined simply by how long it will take to prepare and implement the new processes and new systems that will underpin the future partnership.

“The UK agrees this points to a period of around two years, but wishes to discuss with the EU the assessment that supports its proposed end date."

Although the Prime Minister has always made the case for transition to last around two years, this is the first time an explicit request has been made around requirements, and leaves the period arguably more open-ended than previously thought.

Pro-Remain MP and Open Britain supporter Chuka Umunna said: “The government’s vision for a Brexit transition period should be the final nail in the coffin of the idea that Brexit means ‘taking back control’. The reality is the complete opposite, we are losing control.

“It appears the government wants transition to last indefinitely – a never ending road to nowhere because the cabinet can’t agree on our future trading relationship with the EU .

“As new facts like these continue to come to light, and as the harsh realities of Brexit become clearer, everyone is entitled to keep an open mind about whether it’s the right path for the country. We should not be leaving the EU if we don’t know the end destination of Brexit.”

Original Article

[contf] [contfnew]

CityAM

[contfnewc] [contfnewc]

Related Articles

Business

Pressed by COVID-19 and low oil prices, Nigeria slips into recession

africanews– Nigeria, Africa’s biggest economy, entered recession for the second time in...

Business

EU Reeling From Yellow Vest Protests. What Happens if There Is a Debt Crisis?

There is a lot of talk about which economic bubble will burst...

Business

EU Reeling From Yellow Vest Protests. What Happens if There Is a Debt Crisis?

There is a lot of talk about which economic bubble will burst...

Business

Till Trump do they part: Top tech firms cut ties with Huawei following US trade blacklisting

Last week, US President Donald Trump signed an executive order aimed at...