May to UK: We must Face Hard Facts about Brexit
Local Editor
In a clear admission of the coming difficulties, British Prime Minister Theresa May told her people Friday that they have to face "hard facts" about Brexit.
She further warned that the UK would have less access to European Union markets once it leaves the bloc.
However, May also said that a mutually beneficial future relationship is possible, and she urged European leaders to work with her to deliver a "bold and comprehensive economic partnership."
In a much-anticipated speech, May set out ambitions for a tailor-made free trade deal that would include financial services and said that Britain would aim for associate membership of European Union regulators covering chemicals, medicines and aerospace.
The UK is due to leave the 28-nation EU on March 29, 2019, but the two sides have yet to negotiate new arrangements for trade, security, aviation and a host of other fields. A deal needs to be struck by the fall so European parliaments can sign off on it before Brexit day.
EU leaders have warned that May's insistence on leaving the EU's single market and customs union makes the continued close ties she is seeking impossible. They accuse Britain of wanting to cherry-pick benefits of EU membership without any of the responsibilities.
In a speech aimed both at the EU and at a UK that remains divided over whether Brexit is a good idea, May said "we all need to face up to some hard facts."
"In certain ways, our access to each other's markets will be less than it is now," she said.
However, May signaled that Britain was willing to make major compromises to secure an ambitious free trade deal.
She said "UK and EU regulatory standards will remain substantially similar in the future" to ensure there is no need for tariffs and other obstacles for the free movement of goods.
Chief EU Brexit negotiator Michel Barnier said he welcomed the speech, tweeting that "clarity about UK leaving single market and customs union and recognition of trade-offs" would inform EU guidelines on a future trade deal.
British business groups also largely approved. Miles Celic of financial services lobby group TheCityUK described it as "ambitious and pragmatic." "My message to our friends in Europe is clear," May said. "We know what we want. We understand your principles. We have a shared interest in getting this right. Let's get on with it."
The speech to journalists and diplomats at London's grand Mansion House was the most detailed account to date from the British government of what it is willing to give and what it wants to take in the ongoing divorce negotiations.
But it left many questions unanswered, including what will happen to the Ireland-Northern Ireland border, which will be the only adjoining land frontier between the UK and an EU member country.
Source: News Agencies, Edited by website team
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