Hammond and Davis Insist German and U.K. Views Not IncompatibleBy
May cabinet officials write guest commentary ahead of visit
U.K., allies must seek ‘imaginative and inventive’ standards
Germany’s view that the U.K. can’t retain European Union membership benefits when it leaves the bloc is “not incompatible” with Britain’s perspective, two top leaders from Prime Minister Theresa May’s cabinet wrote in a guest column for the Frankfurter Allgemeine Zeitung.
U.K. Brexit Secretary David Davis and Philip Hammond, chancellor of the exchequer, will seek an audience with German officials and business leaders during a visit to the country this week. The two called for “imaginative and inventive” standards to be applied to new economic relationships between the U.K. and the remaining 27 EU member states, according to the column.
A transition period before the U.K.’s final exit from the EU single market and customs union is a “priority” to allow businesses on both sides of the English Channel to adjust, Davis and Hammond wrote in the German newspaper’s Wednesday edition. Neither side has an interested in erecting “unnecessary barriers” blocking the trade of goods and services, they said.
The leaders called for a “tailor-made solution that builds upon our deeply integrated, unique starting positions in order to provide for the greatest possible economic cooperation and to avoid friction,” according to the column.
As it enters the second phase of negotiations on its divorce with the EU, May’s government will seek to ensure that companies retain existing access to markets during the transition period, the officials wrote. The U.K. and its allies must also “double our collective effort” to ensure the stability of financial markets.