With the deadline for exiting the EU now just over a year away, the government has sought to reassure businesses about the UK’s ambitions for an implementation period following Brexit, in order to ensure an orderly departure
In a joint letter, David Davis, secretary of state for exiting the EU, Chancellor Philip Hammond, and business secretary Greg Clark have outlined the government’s commitment to providing businesses with the certainty and clarity they need to plan ahead.
The letter states there will be a ‘time-limited’ implementation period after May 2019, which is likely to be around two years. During this time, the UK and EU access to each other’s markets will be unchanged, and trade will be based on the existing structure of EU rules and regulations.
The three Cabinet ministers say this means that ‘every business, small or large, will be able to go on trading with the EU as it does today until it’s time to make any changes necessary for the future partnership.’
In addition, EU citizens will continue to be able to come and live and work in the UK, with no new barriers to taking up employment. The letter states: ‘As the Prime Minister has made clear, we will introduce a registration scheme for new arrivals in preparation for our future immigration system, but this will not place any new burdens on businesses during the implementation period.’
The letter to business is here.
