You have successfully emailed the brexit day. Theresa May is reportedly prepared to accept EU demands that any Brexit transition must end by December 31, 2020.
The UK government had sought a transition phase of at least two years. Britain will continue to accept EU single market and customs union rules during the transition. Ending the transition in 2020 will prevent Britain from being drawn into the next EU financial round. LONDON — Theresa May is preparing to accept EU demands to end any Brexit transition period in December 2020, three months earlier than the UK government had originally intended. May’s government had been working on the assumption that a Brexit transition phase would last at least two years after the date Britain formally leaves the EU in March 2019, with some reports suggesting the UK was seeking a transition of up to three years. The EU timetable is the working assumption and no one seems too upset by that,” one Whitehall source told the Sun. Another said the EU timetable “falls within scope of around two years.
He added: “At Florence, Theresa May referred to a maximum of two years. Our position, the European Commission’s position, is that this would run logically to December 31, 2020, because that’s the duration of the current multi-annual financial framework. The new timeline means Britain will have just 21 months from the date Brexit formally takes place in March 2019 to adjust to any new post-Brexit arrangements. Negotiations over the terms of a Brexit transition deal began last week. The UK has provisionally accepted EU demands that Britain will continue to pay into EU budgets as well as abide by EU single market and customs union rules during the transition phase.