Brexit Tracker: UK’s May’s Brexit Manifesto | PYMNTS.com

This post was originally published on this site


The hard line Brexit stance is now in hard copy.

On Thursday, the latest installment in the Brexit saga became a bit of a page turner – pun intended – as British Prime Minister Theresa May published the Conservative Party manifesto, and as Bloomberg noted, promised the country (and voters in the upcoming election) that there would be a “clean break” from the European Union.

As part of the manifesto, May stated that goals include taking Britain out of the single market and customs union, which has been widely telegraphed.  Other initiatives include the aim to “reduce and control” migration – with the stated goal of “tens of thousands” in net migrations — in the EU.  May also likely threw a bit of fuel on the fire in rejecting a negotiating schedule proposed by the EU.  All of this prefigures at least some rockiness to negotiations after the June 8th election.

The rocky road is also going to be a long one, as Brexit happens in 2019 and the process will extend into 2022.  May’s document spells it out that “The negotiations will undoubtedly be tough, and there will be give and take on both sides, but we continue to believe that no deal is better than a bad deal for the U.K.”  At least one fellow leader seems to be spoiling for some confrontation, as Bloomberg reported that German Chancellor Angela Merkel has said that Britain will be “made to pay a price” should it force limited immigration after 2019.

And in a clear shot across the relocation bow, JPMorgan has entered a pact to buy a building in Dublin for 1,000 staff in order to have flexibility in serving clients across the EU, reported FoxBusiness.com.