BREAKING: May's 12-point plan for leaving the European Union

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BREAKING: May's 12-point plan for leaving the European Union

BREAKING: May's 12-point plan for leaving the European Union

Prime Minister, Theresa May, has today outlined a 12-point plan to prepare the UK to leave the European Union, stating that the UK cannot stay in the single market, and has confirmed that parliament will have a vote on the final Brexit deal when it has been agreed

May has set out 12 objectives to follow to ‘build a truly global Britain’, saying that the UK cannot remain within the European single market as staying in it result in ‘not leaving the EU at all’. Instead she wants to ensure a ‘big free trade deal’ with Europe, despite admitting that she has not yet worked out how the UK will achieve this.

During her long-awaited speech, May revealed that government will put the final Brexit deal down to a vote in Parliament, despite previously fighting this decision.  

May’s 12 objectives are as follows:

Certainty

May expressed that she recognised how important certainty was, moving forward through the process, for businesses, the public sector and everyone else in the UK.

Control of laws

There will be an end to the jurisdiction of the European Court of Justice and UK laws will be made in Westminster, Edinburgh, Cardiff and Belfast. Laws will be interpreted in courts in the UK not in Luxembourg, which is the case now.

Securing the union

May stressed the importance of union but the UK government must take back responsibility and will have control over foreign affairs. She mentioned taking into consideration Scotland’s Brexit plans.

Maintain common travel area with Ireland

The UK has always had a special relationship with Ireland and it is important that the UK works to retain the border.

Immigration control

May said: ‘We will have control of the number of people coming to Britain from the EU.

‘Controlled immigration can bring benefits to businesses but when the numbers get too high then public support for the system falters.’

Rights of EU nationals

The rights of EU citizens in the UK and UK citizens in Europe must be established and resolved as soon as possible.

Workers' rights

Workers' rights currently under EU law will be kept and built upon.

Global Britain

May said: ‘ 23 June was the moment that we chose to build a truly global Britain…the result of the referendum was not a decision to turn inward and retreat from the world.’

The UK will still reach out the allies across the globe and will continue to build relationships.

Leave the single market

If the UK is not part of the single market then it does not have to make any contributions to the EU. May wants to have a customs union agreement with the EU.

Science

The UK should aim to stay one of the leaders of science and innovative advances.

Terrorism

The UK will continue to work with Europe on defence and foreign policy saying the response cannot be ‘to cooperate less but to cooperate more’. Intelligence and information will continue to be shared in order to beat terrorism and ‘threats to common security’.

Transitional phase

There will be a phased implementation of Brexit to allow businesses time to plan and prepare.

In her speech May said: ‘ I want Britain to be a country that reaches beyond the borders of Europe’, while stating, ‘we are leaving the European Union, we are not leaving Europe.’

Reaction: sterling jumps

As a result of May's speech the pound recovered from $1.20 on Monday to become $1.21 against the dollar at the time of reporting.

Post-Brexit regulation - Davis on Brexit

After the speech, Brexit minister David Davis told MPs in parliament that the exit plan would include withdrawal from the jurisdiction of the European Court of Justice (ECJ) - often the final arbiter on major tax cases, for example. 

In terms of the wider implications for UK legislation, in the case of the directive governing auditors and listed companies (public interest entities) - the Audit Regulation & Directive (ARD) introduced in the UK in June 2017 - this is likely to be retained as the UK regulatory framework is already stronger than the minimum EU requirements as a result of the 2012 Competition & MArkets Authority investigation into competition in the audit market and subsequent gold plating of the EU rules.

Davis confirmed that there will be a transitional period post 2019 which would see some EU law still effective in the UK.

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