UK Brexit minister David Davis speaks in parliament – 24 January 2018
- Two years for a transition agreement looks about right
- Existing free trade agreements with EU provides the floor, not ceiling of what UK can achieve post-Brexit
- Not going to adopt every piece of Canadian free trade agreement with EU, that’s not enough for UK
- During transition, we will be able to negotiate trade deals with other countries
- Relaxed about transition, primary concern is future relationship with EU
- It’s not a deal breaker that the EU wants a shorter transition period
- Detailed issues on future ties may continue into transition period with EU
- During transition, UK will still be under jurisdiction of the ECJ
- Doesn’t see UK paying for access to EU’s single market
Davis trying to lay down a bit of background of talks with the EU, but I doubt it’ll be as smooth as he’s making it out to be here really.
Cable still just above 1.4100 after a spike from the job figures, while EUR/GBP just off session lows now at 0.8755.