Britain is likely to pay billions of pounds to the European Union after Brexit to retain access to the single market. Prime Minister Theresa May has so far not ruled out to pay huge amount of money to Brussels to product the Financial sector of the UK and other key industries. The recent possibility has been ruled out after May toughened her stand in terms of border controls and immigration.
One of the senior Ministers said, “We would have to be careful how we explained it, but Theresa has been very careful not to rule it out.” Oliver Letwin, former cabinet minister added, “If we have to buy this market access by making continuing contributions to EU budgets, that may well be a price worth paying, given the number of UK jobs that are involved.” The Prime Minister has also decided to fill her Brexit cabinet committee with people against the powers of the European union.
The recent news has also added to the claims that the Britain is slowly leaning towards the hard Brexit and will emit itself from the single market. Still May’s government is divided in terms of what form Brexit has to take. In the past Chancellor Philip Hammond has spoken about Britain’s access to the single market. On the other hand Dr. Liam Fox has urged UK to separate itself from Brussels and have fresh trade deals with non-Eu nations.
Tensions continue to remain amidst the cabinet as Hammond has claimed that he is set to quit as Chancellor. The EU members have stated that Britain must not be given access to the single market without accepting the principle of the free movement of people. Angela Merkel has marked that the Brexit discussion is not going to be an easy one.
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