May Day: What we now know about Brexit
17 January 2017
Jurisdictions: United Kingdom
By Charles Brasted and Telha Arshad
For those who have been listening carefully to the UK Government in recent months, today's speech by Prime Minister Theresa May will be a confirmation that the UK Government has recognised the logical consequences of the political commitments it has made — and an indication of its aspirations for an economic pact that works for the UK and the EU.
The clear focus on minimising barriers to trade in key sectors based on regulatory standards and reciprocity provides a conceptual framework for negotiation. The acceptance of the importance of a period of implementation provides an indication of how practically it might be delivered. But the route to success is tricky. It will need political will, and political skill, to reach a deal, and implementation will give rise to complex legal, regulatory and commercial issues. Businesses and their advisors will have to play their part in making it work. We look at five things we have learned about the UK Government's plans.
Read our response to the speech here.