PRIME MINISTER SETS OUT A 12 POINT FOR UK LEAVING THE EU

PRIME MINISTER SETS OUT A 12 POINT FOR UK LEAVING THE EU

shutterstock_446506849(1)The Prime Minister has now set out what she wishes the UKto achieve in leaving the EU. It is now down to the negotiations to see what is agreed.  It is not for us at Harbour Key to provide any political commentary on what has been set out, but thought it would be useful to provide a summary of what the Prime Minister is looking for. 

To make matters easy for a quick understanding, the Prime Minister set out 12 objectives to take the UK out of the EU and to ‘build a truly global Britain’, stating that the UK cannot remain within the European single market as staying in it result in ‘not leaving the EU at all’.  Instead she wants to ensure a ‘big free trade deal’ with Europe, despite admitting that it has not yet been worked out how the UK will achieve this.

Whatever is achieved in the negotiations, the government will put the final deal to a vote in Parliament, despite previous indications that this would not happen.

The 12 objectives can be summarised as follows:

Certainty

The Prime Minister recognised how important certainty was, moving forward through the exit process, for businesses, the public sector and everyone else in the UK.

Control of laws

The jurisdiction of the European Court of Justice will end and UK laws will be made in Westminster, Edinburgh, Cardiff and Belfast. Laws will be interpreted in courts in the UK not in the European Court.

Securing the union

The Prime Minister stressed the importance of union but the UK government must have responsibility and control over foreign affairs. Scotland’s was mentioned in the speech with regards to their thinking re the UK leaving EU.

Maintain common travel area with Ireland

 The importance of keeping open the UK and Irish border to maintain the special relationship.

Immigration control

One of the key points, Immigration ‘We will have control of the number of people coming to Britain from the EU. Controlled immigration can bring benefits to businesses but when the numbers get too high then public support for the system falters.’

This is a primary objective and is likely to dictate a number of other points in the negotiations.

Rights of EU nationals

The rights of EU citizens in the UK and UK citizens in Europe must be established and resolved as soon as possible.

Workers’ rights

Workers’ rights currently under EU law will be kept and built upon.

Work to make a Global Britain

The vote to leave the EU is not an inward step, but a decision to build a truly global Britain

The UK will still reach out the allies across the globe and will continue to build relationships.”

Leave the single market

On the basis that immigration is a key point, then leaving the single market has to be an objective and the Prime Minister view appears to be leave single market first and then re-negotiation a new trade agreement with the EU.

“I want Britain to be a country that reaches beyond the borders of Europe’, while stating, ‘we are leaving the European Union, we are not leaving Europe.”

Although not mentioned in the same detail, the same appears to apply to the customs union agreement with the EU.

Science

The UK to aim to stay one of the leaders of science and innovative advances.

Terrorism

The UK will continue to work with Europe on defence and foreign policy saying the response cannot be ‘to cooperate less but to cooperate more’. Intelligence and information will continue to be shared in order to beat terrorism and ‘threats to common security’.

Transitional phase

The wish to achieve a phased implementation of leaving the EU to allow businesses time to plan and prepare.

No detail, which was not expected, but a plan of what looking to achieve. In terms of the wider implications for UK legislation accounts and tax related, it is likely that much of this will be retained, however we now know the direction of travel of we just need to wait for the outcome.

Harbour Key Limited    

18 January 2016

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