According to the British Prime Minister, London wants to build an “ambitious” economic relationship with the European Union after the end of British membership.
Theresa May, speaking on Monday at the British Industry Confederation (CBI), confirmed at the same time that Britain wanted to move away from the unified internal market of the European Union.
The UK government wants to leave the Union’s unified internal market and the Customs Union together with the cessation of EU membership because it does not want to meet the conditions – first of all the obligation to free movement of labor – that are needed to preserve membership in these integration organizations.
At the same time, London is pursuing a wide-ranging Free Trade Agreement with the EU so that the UK business sector can access the EU’s internal market as soon as possible after the end of EU membership.
Theresa May at CBI’s Monday Congress described this complex objective as the British government intends to establish a ‘new equilibrium system of rights and responsibilities’ between the United Kingdom and the European Union, respecting both the freedom of EU citizens on the one hand and principles, and the will of the British people.
The British Prime Minister referred to a referendum on the British EU membership last June, with a narrow majority of 51.9 percent of the participants voting.
Speaking at CBI’s event on Monday, London also confirmed that London would like to reach an agreement with the EU on a “transiently limited” transitional phase after the end of UK membership, in order to have the British business sector time to introduce the elements of a future new system .
According to the British head of government, Britain and the countries that remain in the European Union during the implementation period will still have access to each other’s market under current rules.
Theresa May did not specify how long the transitional period after the expiration of the British EU membership would have been, but in his previous statements about this, he had been charging for two years the time needed to introduce new rules that would establish a future relationship system.
The British Prime Minister first described this plan in detail in his Florentine speech on British government plans at the end of last month, after the Brexit. According to this justification, the United Kingdom, the European Union and the EU Member States will not be in a position to smoothly integrate many of the elements of a new system of relations in the expected time of expiry of the British EU membership and in March 2019, relations will also need to be ratified.
May in his speech at CBI’s Monday congress expressed dissatisfaction with the investment activity of the UK business sector. He declared that the British corporate private sector invests only 1.70 pounds in each pound of government support to encourage R & D, while business co-financing equivalent to £ 2.40 in the US and 2.70 pounds in the US economy contributes to all units of government support.
However, Mark Carney, Governor of the Bank of England at a mining business event, said that the uncertainties surrounding the Brexit process will clearly reverse the investment in the business sector. According to Carney, in the current global growth environment and mild financial conditions, it should be an “investment boom” in the UK economy, but the value of the investments just “grows”.
The Governor of the Bank of England says the reason for this is that the UK business sector wants to wait before the investment decisions about the exit agreement between London and the EU.
Source: MTI / Picture: zarojel.hu /