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UK’s Hammond wants two-year market access Brexit deal

British finance minister Philip Hammond has told business leaders he wants companies to have full access to the single market and customs union for two years after Brexit, followed by a further implementation phase, the Financial Times reported.

Hammond said he wants a simple “off-the-shelf” transition deal with the European Union that will maintain current trading relations with Brussels for two years. He then wants a further implementation phase to be in place while Britain negotiates a new trade deal.

Hammond, appearing on BBC television, did not confirm or deny the report but said it was important that companies could discuss all options with the government in a private setting.


Hammond said it was in the interests of the EU and Britain to have a transition that allows the economies to adjust. He said British ministers needed to understand the challenges that businesses face with Brexit.