“We will go forward understanding we cannot be members of the Single Market.”
The Chancellor’s comments were delivered just 20 minutes before Prime Minister Theresa May confirmed the news during her speech to reveal her 12-point plan to unshackle the UK from the European Union.
THERESA MAY and Philip Hammond have finally revealed Britain is to leave the single market as part of the nation’s Brexit plans.
Mrs May said that her plans for Brexit cannot allow continued membership of the single market, which would require free movement of people and accepting the jurisdiction of the European Court of Justice.
Express Newspapers reported,
Instead, she said that she will seek “the greatest possible access to the single market on a reciprocal basis, through a comprehensive trade agreement”.
Mrs May said that she wanted to remain part of a customs agreement with the remaining 27 EU states, but said she had an “open mind” over whether this would be through associate membership of the Customs Union or through some other arrangement.
Her announcement came in a high-profile speech in London setting out her objectives for post-Brexit Britain.
Earlier this week, Mr Hammond said the UK hoped to retain single market access but would be willing to “change our economic model to regain competitiveness”.
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