Her announcement of the vote comes ahead of a court decision on whether she has the power to start the Brexit process without parliamentary approval.
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May hopes for a full agreement with the European Union by the end of the two-year Brexit process, which is expected to begin in March. Britain’s Supreme Court is expected later this month to rule on whether Parliament must have a say in the matter. She plans to trigger Article 50, the mechanism by which countries withdraw from the European Union, in March.
“We will continue to be reliable partners, willing allies and close friends”. Ministers have previously suggested the UK’s membership of the trading arrangement could become partial, involving deals on a sector-by-sector basis.
“Countries including China, Brazil, and the Gulf states have already expressed their interest in striking trade deals with us”.
Her direction will be cheered by those who want to leave the European Union, but dismay those who fear the impact on Britain’s economy.
And although she will stress her determination for Britain to regain full border controls, she will say she wants the country to become “a magnet for worldwide talent and a home to the pioneers and innovators”. Immigration can not be reduced without exiting it, although many have expressed concern about the economic ramifications of leaving. Her speech indicated her government’s desire to make the country open to new trade opportunities in the global economy.
“When the numbers get too high, public support for the system falters”.
“We do not seek membership of the single market”, she said in a highly anticipated speech.
Sterling plunged to $1.1986, its lowest level since October’s “flash crash” that had sent it to a 31-year low of $1.1841, in morning trading.
She said Britain would forge a “new and equal partnership” with Europe after the result of a June national referendum saw Briton’s chose to leave the European Union after more than 30 years as a founding member.
“We will continue to attract the brightest and the best to work or study in Britain – indeed openness to global talent must remain one of this country’s most distinctive assets – but that process must be managed properly so that our immigration system serves the national interest”, Mrs May stressed.
But senior European Union leaders have warned Britain there could be no “cherry picking”, and Merkel has urged the 27 remaining European Union states not to allow themselves to be divided.
However, she continued: “But I do want us to have a customs agreement with the EU”.
“Negotiations of this size and importance are bound to involve an element of bluff to ensure that the United Kingdom would get the best possible deals”, Stephen Innes, a senior trader at OANDA forex firm, said in a commentary.
Theresa May is today set to deliver the most important speech of her career so far.
“I know there are some voices calling for a punitive deal that punishes Britain and discourages other countries from taking the same path”, she said.
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Other official reaction from Europe was relatively muted, with European Council president Donald Tusk saying only that the remaining 27 members now had a “more realistic” view of Britain’s goals and were “united and ready to negotiate”.
