A transition period will be needed after the UK leaves the EU in March 2019, to provide more clarity for businesses. This is according to the British Finance Minister Philip Hammond and International Trade Minister Liam Fox. It was written in a letter published by the Sunday Telegraph.
This transition period must not be a “hidden door” for the UK to stay in the EU, they added. They have suggested that the “UK could have a third party status during this transition period, but would no longer be part of the European treaties”.
“But we also think that flexibility with regards to the functionality of our borders is needed during this period. Goods bought over the internet must be allowed to cross them so businesses can continue to provide for their customers in the EU and employ people with the skills they need. Even from within the EU”. However they did not say how long this transition period should last.
The Brexit Minister David Davis also made a statement on Sunday, saying the government would give its position on several issues over the next few days as part of the next round of Brexit negotiations, which will start on the 28th of August.
The Brussels Times