Theresa May’s Cabinet away day is finally over and the Prime Minister can go to sleep safe in the knowledge that there have been no resignations… yet. In a No 10 statement this evening, May said the Cabinet had agreed its collective position for the Brexit negotiations – for a common rule book on industrial goods and agricultural products. This means the UK would have to in effect follow EU rules in these sectors:
‘Our proposal will create a U.K. – EU free trade area which establishes a common rule book for industrial goods and agricultural products. This maintains high standards in these areas, but we will also ensure that no new changes in the future take place without the approval of our Parliament.
‘As a result, we avoid friction in terms of trade, which protects jobs and livelihoods, as well as meeting our commitments in Northern Ireland. We have also agreed a new business-friendly customs model with freedom to strike new trade deals around the world.’
Only the loose details of May’s third way are known for now with more to be fleshed out next week when the government publishes its white paper.
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