Prime Minister Theresa May acknowledged for the first time that the U.K. would need a period of adjustment after it leaves the European Union to cut uncertainty for businesses, APA reports quoting the WSJ.
Mrs. May said Tuesday that a possible transitional arrangement could be used to avoid a “cliff edge” of trading and regulatory uncertainty immediately after Britain leaves the bloc.
“Once we’ve got the new arrangements, there will of course be a necessity for an adjustment to those new arrangements for implementations of some practical changes that may need to take place,” she told lawmakers.
Mrs. May has said she would launch a two-year negotiation over the terms of the U.K.’s departure from the bloc by the end of March. She said Tuesday she would give more details about her approach early next year.
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