United Kingdom manufacturers say they urgently need clarity on #Brexit

United Kingdom manufacturers say they urgently need clarity on #Brexit

"We are writing to reassure you of our continued, strong backing for the clear vision of an internationally-engaged, free-trading, global Britain which laid out at Lancaster House", the letter issued on Tuesday said.

The document also signals a major climbdown on the free movement of European Union migrants after Brexit, as it set out its official negotiating position on the transition period. "The UK agrees this points to a period of around two years, but wishes to discuss with the European Union the assessment that supports its proposed end date", Bloomberg reported the document saying.

While bankers and the City of London are keen to maintain the status quo, Theresa May would face increased criticism should she compromise Britain's borders in an exchange.

Julie Bishop is encouraging a free trade agreement between Australia and the United Kingdom as a stepping stone for Britain to join the Trans-Pacific Partnership.

The concession by May's government follows warnings from Parliament's Home Affairs committee last week that creating a two-tier immigration system in time for Brexit day is simply not "feasible" in time because the department is starved of time, staff and resources.

In a speech aimed at allaying European concerns, Brexit Secretary David Davis told Austrian business leaders in Vienna that the United Kingdom does not want "to undermine Europe or act against the interests of our nearest neighbors".

The reason however why the letter from the Conservative Brexiteer backbenches matters however is simple.

More than 60 lawmakers in Prime Minister Theresa May's Conservative Party have signed a letter demanding that she deliver a Brexit that ensures "full regulatory autonomy" for Britain after it leaves in March 2019, the BBC reported.

"We want to reach a deal, respecting the guidelines of the European Council, respecting the rules of the single market of the Union".

Davis is touring European capitals as Britain tries to persuade EU leaders to strike new deals on trade and security with the United Kingdom.

"We also want to share some suggestions for how it could be achieved", they add.

Economists for Free Trade said officials have failed to take account of the Government's plans for a Brexit deal based on an enhanced version of the agreement with Canada when drawing up forecasts. The pound climbed 0.5% against the Euro following the news.

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