PM announces that Brexit transition could be extended by ‘a matter of months’

The UK’s transition out of the EU could be extended by “a matter of months” to ensure no hard border in Northern Ireland, Prime Minister Theresa May has said.

May said this was a new idea that had emerged in negotiations and was not expected to be used.

The UK leaves the union on 29 March 2019 and, under the current plan, the transition period is due to finish at the end of 2020. However, some Tory MPs are not pleased with the idea of the UK remaining in the single market and customs union for a longer period.

The Prime Minister addressed her 27 European counterparts yesterday (Wednesday 17 October) evening, and urged them to give ground and end the current Brexit deadlock.

Speaking this morning, May announced that the UK had already put forward a proposal to avoid the need for either a hard border or a customs border between Northern Ireland and the rest of the UK.

May added: “A further idea that has emerged - and it is an idea at this stage - is to create an option to extend the implementation period for a matter of months - and it would only be for a matter of months.

"But the point is that this is not expected to be used, because we are working to ensure that we have that future relationship in place by the end of December 2020."

After Wednesday’s discussion, EU leaders stated that it was up to May to present new ideas, and declared that insufficient progress had been made to call a special summit next month to draft a withdrawal deal.

However, both sides have agreed to continue talks.

In order for the extension to be put in place, the UK Parliament will have agree to it, and some MPs have warned that May will face a rebellion if she tries to do it.

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.

In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.

Air and the role of later-life lending
Content editor at MoneyAge, Dan McGrath, spoke to the chief executive officer at Air, Will Hale, about the later-life lending industry, the importance of tailored advice and how technology and obligations have shaped the sector.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.