Philip Hammond confirms UK will seek Brexit transitional deal
Britain’s relationship with the EU three years after Brexit may look similar to its current one, with free movement, access to the single market and an inability to strike trade deals with other countries, Philip Hammond has said.
The chancellor confirmed multiple reports over the last week that the cabinet had agreed to seek a transitional period of around three years, ending before the next election due in 2022.
He said there was broad consensus in the cabinet that such a period would be necessary to cushion the impact of leaving the EU.
The agreement was made last week but not announced by Theresa May, who has left the UK for a three-week holiday. Instead, the news has seeped out from other cabinet ministers, and was confirmed by Hammond on Friday morning.
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