Money May's Cabinet Is Split Three Ways Over Brexit Transition Plan

11:35  12 august  2017
11:35  12 august  2017 Source:   Bloomberg

Britain's Unreal Brexit Transition Debate

  Britain's Unreal Brexit Transition Debate The air of unreality about the Brexit transition debate extends to the question of the form of the transition too: How will the U.K. negotiate with the EU when it isn’t entirely clear what it wants?There is an air of unreality about the debate that has been raging this summer over a Brexit transition deal. The mere fact that this debate is taking place at all is unreal. It was never remotely plausible that the U.K.

(Bloomberg) -- Prime Minister Theresa May ’ s cabinet remains divided over the best way to navigate Britain’s exit from the European Union, with advocates of a harder Brexit arguing for the shortest transition period possible.

Prime Minister Theresa May ’ s cabinet remains divided over the best way to navigate Britain’s exit from the European Union, with advocates of a harder Brexit arguing for the shortest transition period possible.

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Prime Minister Theresa May’s cabinet remains divided over the best way to navigate Britain’s exit from the European Union, with advocates of a harder Brexit arguing for the shortest transition period possible.

Sir Vince Cable Attacks Elderly Brexit 'Martyrs' Who Have 'Shafted The Young'

  Sir Vince Cable Attacks Elderly Brexit 'Martyrs' Who Have 'Shafted The Young' The Liberal Democrat leader accused them of “masochism” and claimed older Brexit voters with views “coloured by nostalgia from an imperial past” had imposed their will on a younger generation more comfortable with the European Union. Meanwhile, Whitehall sources sought to play down speculation that Theresa May would be prepared to pay a Brexit bill of £36 billion as part of a deal to strike a comprehensive free trade agreement with Brussels.The so-called “divorce” bill has been one of the main stumbling blocks in Brexit negotiations between the Government and Brussels.

Prime Minister Theresa May ’ s cabinet remains divided over the best way to navigate Britain’s exit from the European Union, with advocates of a harder Brexit arguing for the shortest transition period possible.

Theresa May ’ s cabinet is split into at least three groups over how Britain should arrange a transition period after Brexit , according to several people involved in discussions. One group, led by Philip Hammond, the chancellor

While the government now seems to agree on the need for a transition period, how this should be managed has split May’s closest ministers into three factions, according to an analysis by Cicero Group.

The divisions highlight the fragility of May’s administration after June’s snap election left her with no majority in Parliament. The new balance of powers has allowed those backing a more gradual break with the bloc, led by Chancellor Philip Hammond, to wield more influence on the shape of Brexit. Still, EU leaders have warned that with a 2019 deadline, the clock is ticking.

Hammond, backed by Home Secretary Amber Rudd, is focusing on the economic risks of Brexit, and on making the transition as gradual as possible. This includes keeping free movement for up to three years, and ensuring businesses retain full access to the single market and customs union during a transition period before moving to an implementation phase.

Trade Secretary Liam Fox is leading a faction on the other end of the spectrum, calling for as short a transition as possible and the freedom to negotiate trade deals straight away, according to Cicero.

The political consultancy sees May, her deputy Damien Green as well as leading Brexit supporters such as Environment Secretary Michael Gove and David Davis as positioning themselves between the two, backing a sustained transition period during which few restrictions would be put on EU migration, and rejecting single market membership but calling for transitional customs arrangements.


Most businesses have not changed strategic planning due to Brexit: Thomson Reuters CFO survey .
<p>A majority of businesses are yet to change their strategic planning due to Britain's decision to leave the European Union, a survey of chief financial officers by Thomson Reuters showed.</p>Big businesses were vocal in the run-up to the referendum in June 2016 that a vote to leave the European Union could hit investment and the labor market, with uncertainty lingering over sectors from financial services to the car industry.

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