UK Will Leave Single Market & Customs Union, Chancellor Confirms

Britain wants to a avoid a “cliff edge Brexit” that would sow chaos for business but leaving the European Union does mean leaving the single market and the customs union, Chancellor of the Exchequer Philip Hammond has told the BBC. 

Hammond refused to confirm or deny a Financial Times report that he had told business leaders that he wanted to negotiate a simple “off-the-shelf” transition deal with Brussels to maintain current trading relations with Europe for at least two years after Brexit. 

Hammond said it was in the interests of the EU and Britain to have a transition that allows the economies to adjust. He also said that British ministers needed to understand the challenges that businesses face with Brexit.

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Gary Cartwright

Gary Cartwright

Gary Cartwright is publishing editor of EU Today. 

An experienced journalist and published author, he specialises in environment, energy, and defence.

He also has more than 10 years experience of working as a staff member in the EU institutions, working with political groups and MEPs in various policy areas.

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