Speaking to the Parliament yesterday, UK Prime Minister Theresa May outlined four more steps to complete the remaining 5% of Brexit agreement with the EU. Those include a firm commitment to EU-UK temporary customs arrangement; an option to extend the implementation period as alternative to Irish backstop; the flexibility for the UK to leave as will; and, ensuring full access for all of Northern Ireland business to the Great Britain.
May added that both the option of transition extension and backstops only insurance policy and are undesirable. And the best outcome is for the future arrangement to be in place by December 2020. And she added that it would be a “sovereign choice” on whether an extension or a UK-EU customs backstop would be preferable.
May also said that “95 per cent of the Withdrawal Agreement and its protocols are now settled.” But Labor leader Jeremy Corbyn criticized that “nothing is agreed until everything is agreed.”
Sterling is notably lower against Euro and Swiss Franc since the start of the week.
