Skip to main content

BREXIT Update

This week has seen some extraordinary political developments in the story of Brexit. First of all, we saw a deal between the UK Government and the EU and then the political fall out in Westminster of the publication of the Deal and its agreement by the Cabinet. The MTA has consistently supported efforts to get a deal in order to keep as good access to EU markets as possible and protect international supply chains as well as avoid the inevitable economic turmoil that ‘No Deal’ would bring. The deal on the table goes a long way towards doing that, keeping trade (more or less) frictionless and preserving regulatory alignment. Crucially it also secures a transition period to avoid a cliff edge scenario at the end of March. But it is only the beginning of a process of establishing a new relationship with our largest market.

The landing zone of the deal is less clear than it looked, even a few days ago, the reception it got in Parliament yesterday showed that. Everything that the Government can throw at the getting it through will be thrown, but at the moment it looks difficult to see how this deal can pass. Access to the single market and avoiding ‘No Deal’ will remain the key objectives of the MTA and we are continuing to press that case on politicians directly and in concert with other business stakeholders.