BREAKING NEWS

UK PM to tell business Brexit transition 'crucial' to success

By REUTERS

NOVEMBER 6, 2017 00:53

LONDON, November 5 - Prime Minister Theresa May on Monday will stress to wary business leaders a commitment to securing a transitional deal once Britain leaves the European Union, seeking to assuage fears of a cliff-edge departure.

In a speech to the Confederation of British Industry, May will highlight the importance of a transitional agreement after she recently unnerved executives by saying any deal would not be agreed until the entire exit agreement is sealed.

"I know how important it is for business and industry not to face a cliff-edge and to have the time it needs to plan and prepare for the new arrangements," May will say, according to advance extracts released by her office.

"A strictly time-limited implementation period will be crucial to our future success." Already rattled by the slow progress of Brexit talks, businesses operating in the world's fifth largest economy have been pressing for months for details about what any transitional EU trade deal will actually look like.

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