Hammond Sees Growing Consensus on Transitional Brexit Period
- Longer period than two years more likely as talks progress
- No decision yet on whether to stay within EU customs union
Philip Hammond, U.K. chancellor of the exchequer.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
Chancellor of the Exchequer Philip Hammond suggested his push for a transitional period to cushion Britain’s exit from the European Union is gaining support among ministers.
Hammond told Parliament’s Treasury Committee on Monday it’s likely both Britain and the 27 remaining European Union members will conclude a longer transition period is needed to smooth the path of Brexit. Some officials in other countries already share that stance, he said.