To ask Her Majesty's Government what is the duration of the transition deal they seek to have with the EU; and what assessment they have made of the economic impact on the UK of a longer transition deal.
Answered on
1 March 2018
The Government has been clear that the aim of the time-limited Implementation Period must be to avoid a disorderly exit from the European Union for individuals and businesses both in the UK and the EU and should therefore provide sufficient time to put new processes and systems in place. As the PM set out in Florence, that points to a duration in the region of two years. This is in line with the Commission’s published position. We remain confident that we will reach agreement by March European Council.
The Government is undertaking a comprehensive programme of analytical work across a range of scenarios. It is not standard practice to provide a running commentary on ongoing, internal analysis.