UK to opt for hard Brexit and leave single market

Theresa May, the prime minister of the United Kingdom has confirmed that the country will be pursuing what critics have labelled a hard Brexit, promising that the final deal will be put to a vote in both the House of Commons and House of Lords.

She said that the UK will not be seeking to remain in the single market following the UK’s exit from the European Union. Furthermore, she said that the UK will also be breaking away from the European Court of Justice, adding however that government will adopt EU law and then decide what laws to change.

“We have 12 objectives that amount to one big goal: a new, positive and constructive partnership between Britain and the European Union,” she said, emphasising that the whatever deal is agreed upon, it should not leave Britain “half-in, half-out.”

May was addressing diplomats and ambassadors at Lancaster House, Westminster, this afternoon, where said that the UK will pursue “a bold and ambitious free trade agreement with the EU,” rather than remaining in the single market. The speech went a long way in offering some clarity as to what Downing Street’s Brexit strategy is, with the price of the pound surging more than 3 cents.

“Being out of the EU and a member of the single market, we will still have to comply with rules without being able to vote on them. It will mean that for all intents and purposes we will not be leaving the EU,” said May while stressing that a constructive approach to the Brexit talks will be in the interests of both sides.

She said that despite not seeking membership, the UK will look to obtain the “greatest possible access” to the single market and assured European leaders that Britain will remain a “friend,” that wants the EU to succeed rather than unravel.

She did however say that she would rather leave the EU without a trade deal than accept a bad one.

“Britain wants to remain a good friend and neighbour to Europe, but I know there some calling for a punitive approach. This would be an act of calamitous self-harm for the countries of Europe, and it would not be the act of a friend,” she said.

In the eventuality of the UK leaving without a trade deal, May said that the country would consider adopting a revised economic model. On Sunday, Chancellor Philip Hammond said that if Britain were to not have access to European markets after leaving the EU, it would consider abandoning European taxation and regulation systems and “become something different.”

Asked by journalists whether she will be using the threat of becoming a tax haven as a negotiating weapon, May challenged the use of the word ‘weapon’ and said that she hopes to get a deal that can be to the mutual benefit of both sides. 

Following the speech, Labour leader Jeremy Corbyn, writing on Facebook, said that May had made clear that she is determined to use Brexit to turn Britain into a bargain basement tax haven on the shores of Europe, adding that the opposition was deeply concerned about her “reckless approach” to achieving access to the single market.