Monday, 12 December 2016

BBC News: Chancellor urges Brexit interim deal

BBC News: Chancellor urges Brexit interim deal

Chancellor Philip Hammond has backed a transitional deal for Brexit saying it would be "helpful" to allow longer than two years for the UK's EU exit.

Mr Hammond told the Treasury select committee that there was an "emerging view" that having longer would tend towards a "smoother transition" .

There would be "less risks of disruption" including "crucially risks to financial stability", he added.

However, both business and government would have to make changes, he said.

His comments are being seen as the strongest signal yet from the government that the Brexit process could take a lot longer than the two years needed for the official Article 50 exit process to be completed.

On Monday the Treasury Select Committee called for written submissions on transitional arrangements as part of its inquiry into the UK's future economic relationship with the EU.

We so need a transitional deal. I'm so glad Hammond is chancellor and not some madman.

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