May promises no 'cliff edge' Brexit for UK businesses

Will negotiate for transition period

Prime Minister Theresa May has promised business leaders she will not let companies fall over a Brexit "cliff edge" and will aim to negotiate a transition deal to ease the UK's departure from the EU in March 2019.

May (pictured) told the first meeting of a new Downing Street business council she will fight for an "implementation phase", amid warnings the City could haemorrhage jobs unless she delivers clarity on her exit strategy soon. IW Summer Podcast: What are the key issues for wealth managers after Brexit vote and BoE rate cut? Chancellor Philip Hammond, who backed the Remain campaign prior to the referendum, has argued for a transition lasting two years or more, during which Britain would have a very close associate relationship with the single market and the customs union. Meanwhile, ...