Katy Balls Katy Balls

Theresa May’s masterclass in mutual dissatisfaction

Theresa May’s speech today won’t have left any portion of her party ecstatic. As the Prime Minister promised ‘ups and downs in the months ahead’, she warned that ‘no-one will get everything they want’. With compromises coming down the track, May made sure to dish today’s disappointment out in an even-handed manner.

For the Remain side of her party that meant their hopes for a customs union compromise – as Isabel reported earlier in the week – were dashed. She not only re-iterated her stated position that the UK would leave the customs union but said that the UK should be able to set its own tariffs. That suggests not even a partial customs union is possible. There was also strong wording that there would not be a ‘soft’ Brexit that accommodates the City. May said that ‘passporting’ for financial institutions would end.

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