Theresa May warns Brussels: Keeping the City from trade deal would ‘hurt’ its own economies
Prime Minister Theresa May sent a clear message to Brits today to face up to “hard facts” about Brexit as there were no “cake-and-eat-it” solutions to future relations with the EU.
May accepted that UK will not have the same access right to Europe when it leaves the single market: “We are leaving the single market. Life is going to be different. In certain ways, our access to each other’s markets will be less than it is now.”
But she also warned Brussels that leaving the UK’s financial services from the trade deal after Brexit would “hurt” its own economies. “This is a clear an example of where only looking at precedent would hurt both the UK and EU economies,” PM said.
May listed a number of demands, insisting they were not “cherry picking” and accepted that in future, rights and obligations would be “held in balance”.
“The fact is that every free trade agreement has varying market access depending on the respective interests of the countries involved. If this is cherry-picking, then every trade arrangement is cherry-picking. What would be cherry-picking would be if we were to seek a deal where our rights and obligations were not held in balance. And I have been categorically clear that is not what we are going to do.
“I think it is pragmatic common sense that we should work together to deliver the best outcome for both sides,” she said reaffirming her commitment to leave the Single Market and customs union.
PM concluded by saying: “My message to our friends in Europe is clear: We know what we want, we understand your principles. We have a shared interest in getting this right, so let’s get on with it.”
Foreign Secretary Boris Johnson gave a ;thumbs up’ to the PM’s speech on Twitter.
Alas I have not been able to listen in person as I hoped as I have been delayed by our common European winter weather – on which we will remain in full alignment #RoadtoBrexit pic.twitter.com/X5RoFXpmir
— Boris Johnson (@BorisJohnson) March 2, 2018