The House of Lords EU internal market and external affairs sub-committees have published a report advising the government to seek a transitional trade arrangement after the UK leaves the EU, involving a temporary extension of participation in the customs union. Key findings of the report, ‘Brexit: the options for trade’, based on the four main options for the UK’s trade relationship with the EU after leaving are:
Chairman of the EU external affairs sub-committee, Baroness Verma, said: ‘It is unlikely that a bespoke EU trade agreement can be agreed within article 50’s two-year period, so a transitional deal is vital for protecting UK trade, and jobs that rely on trade.’
Lord Whitty, chairman of the EU internal affairs sub-committee, said: ‘Trade-offs will need to be made in whatever trading framework we eventually agree. The government is committed to curbing the free movement of people and the reach of the European Court of Justice. This is incompatible with full single market membership.’
The House of Lords EU internal market and external affairs sub-committees have published a report advising the government to seek a transitional trade arrangement after the UK leaves the EU, involving a temporary extension of participation in the customs union. Key findings of the report, ‘Brexit: the options for trade’, based on the four main options for the UK’s trade relationship with the EU after leaving are:
Chairman of the EU external affairs sub-committee, Baroness Verma, said: ‘It is unlikely that a bespoke EU trade agreement can be agreed within article 50’s two-year period, so a transitional deal is vital for protecting UK trade, and jobs that rely on trade.’
Lord Whitty, chairman of the EU internal affairs sub-committee, said: ‘Trade-offs will need to be made in whatever trading framework we eventually agree. The government is committed to curbing the free movement of people and the reach of the European Court of Justice. This is incompatible with full single market membership.’