Theresa May: Great Britain's new Brexit plan

Free Trade Area with the EU, no controls on the Irish border: Theresa May reached an agreement in the Cabinet on the post-Brexit period. The corner points

Theresa May: Great Britain's new Brexit plan

British Prime Minister Theresa May has agreed with her cabinet on a uniform line in Brexit negotiations with EU. After twelve hours of consultations at her country estate Chequers, she shared on Friday evening: "The cabinet has agreed to our collective position for future of our negotiations with EU." Details of plan will be publicized next week in a so-called white paper.

But it is already well known that, even after leaving European Union, Britain wants to remain in internal market for goods and goods, but not for services. It remains to be seen wher EU will agree to this. The cornerstones of plan at a glance:

Free Trade Area with EU

For industrial goods and agricultural products, London is striving for a "common rules" with EU to harmonise standards and guidelines. The aim is to protect cross-border supply chains – such as in important automotive industry – so that trade can continue to run smoothly as possible.

End of free movement of persons

While product standards are to be adopted, British want to restrict freedoms of capital, workers and services. The government wants to stop unhindered entry of EU citizens and to go ir own way in service sector – dominant sector in UK. It is taking into account that banks and insurance companies would not have unrestricted access to EU internal market. At same time, London is proposing agreements to maintain "mutual benefit of integrated markets and to protect financial stability".

Withdrawal from customs union

London wants to leave European customs Union so that country can conclude its own trade agreements with third countries such as USA and China. In order to avoid border controls between British Norrn Ireland and EU member of Ireland, however, British want to impose two different rates of customs on imports from third countries: one for goods destined for European market and anor for goods To be sold in UK.

Common set of rules

Britain commits itself to implementing all EU rules on goods. This also applies to goods from agro-food industry. However, British Parliament should have right to refuse implementation in individual cases. Services are exempt from common set of rules. According to industry, British want to make different bilateral agreements in order to have more flexibility in regulation.

European Court of Justice

London will no longer be subject to jurisprudence of European Court of Justice. At same time, Government underlines that British courts can take account of European jurisprudence in cases covered by "common rules".

Brexit-British government calls for free trade area with EU Prime Minister Theresa May has agreed with her cabinet on a plan for period after Brexit. Britain is to remain in EU internal market for goods and goods. © PHOTO: Reuters/Joel Rouse

Date Of Update: 08 July 2018, 12:02

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