Published: Fri, January 20, 2017
Economy | By Melissa Porter

Theresa May hails 'fundamental strength' of United Kingdom economy since Brexit vote

US President-elect Donald Trump has also promised a "quick" free trade deal with Britain.

In a major speech on Tuesday, May said she still plans to trigger Article 50 of the Lisbon Treaty, which sets the rules for a two-year negotiating process for a nation leaving the European Union, by the end of March.

"I am concerned that what we're getting is some sort of slow-motion Brexit where she is speaking about interim measures, or a transitional period, which will only begin after April 2019".

"He didn't say, "We haven't done a good job in explaining the advantages of the EU", Mr. Stiglitz said at the World Economic Forum in Davos, Switzerland.

Six months after the UK's European Union referendum and amid growing discontent, Prime Minister Theresa May has now outlined her plans for Britain's future.

"But I want to be clear: What I am proposing can not mean membership of the single market". As a EU member, it would be impossible and contrary to EU rules and regulations for Britain to prevent EU citizens from other EU nations from immigrating to Britain.

Ireland said its priorities as one of the 27 European Union countries in the Brexit negotiations remain its economic and trading arrangements, the peace process and border issues as well as the common travel area.

Mrs May said during the referendum campaign that leaving the Single Market risked making the British people poorer.

Mr McFarlane also said that the bank has a "contingency plan" for dealing with the possibility of a bad deal with the EU.

"The Taoiseach (Prime Minister), myself, several cabinet ministers and senior civil servants across departments have all been in the City of London in the last six months and are in direct contact with several companies that have expressed an interest (in) setting up in Ireland".

It is understood that the speech was generally well-received by attendees, with the UK Chairman of KPMG Simon Collins said it would "go some way to assuage the nerves of CEOs" concerned by a rise in protectionism. We have pressed the Government hard to guarantee the right to remain for non-UK EU nationals in existing workforces, and no early cut-off date.

But, she said, she wanted "also to show how these forces can work for everyone".

She added: "I value financial services in the City of London and I want to ensure that we can keep financial services in the City of London and that global Britain, I believe will do just that".

"One might expect a successful negotiating strategy to have ambitious objectives and a credible fall back position".

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