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Theresa May Reveals Brexit Aims to the World

Theresa May has announced the 12 principles that the government will be conducting their Brexit negotiations by in a new speech.

Brexit Results EU Referendum 2016

Theresa May has announced the 12 principles that the government will be conducting their Brexit negotiations by in a new speech.

Speaking from Lancaster House in London, the Prime Minister confirmed that the UK will be pursuing a route outside of the European Union, insisting that there was no option available for the UK to remain ‘half-in, half-out’ of the EU.

Addressing the necessity of the UK’s right to pursue free trade outside of the European Union, the Prime Minister confirmed that the UK would be seeking to attain as much access to the single market as possible, whilst remaining outside of it.

However, she insisted that the UK would not be looking for ‘backdoor membership’ to the EU by remaining within the single market, citing that Britain’s respect for Europe’s view that the four freedoms of movement – people, services, goods and capital – are indivisible from membership to the single market.

The Prime Minister also addressed the need for Britain and the European Union to continue their relationship as friends in the coming months and years, stating that: ‘Our vote to leave the EU represents no desire to become more distant to you, our friends and neighbours. We will continue to be reliable partners, willing allies and close friends.’

To assist both the UK and the EU with the redefining of their relationship, Theresa May also revealed that the government will be seeking to achieve a transition period following the conclusion of negotiations in 2018/19.

She said that this period will be necessary for both parties to avoid a ‘disruptive cliff edge’, as businesses put necessary changes in place to ensure that they are in adherence with post-Brexit policies, both in the UK and Europe.

The speech was characterised by the desire to create a ‘global Britain’, creating new opportunities for trade with countries outside of Europe, maximising the country’s trading capacity.

Mrs May addressed a number of other concerns in her speech, telling of the UK’s desire to maintain a common travel area between Northern Ireland and the Republic of Ireland, stand at the forefront of science and innovation with cooperation from Europe, and augment workers’ rights in the UK.

The Prime Minister also confirmed her intention that the final Brexit plans following the negotiation will be presented for a vote in both the House of Commons and the House of Lords, allowing both parliaments to interrogate the final plans before they are approved.

During Theresa May’s speech, the value of sterling rose against the dollar by 2% to $1.2293, the largest increase since June 20. At the time of writing, the pound has risen by 2.6%, placing it on course to be the best daily performance for sterling since December 2008.

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