After the shock announcement of a “hard” Brexit, which would see the UK exit both the EU and the single market, Theresa May has revealed her 10-point plan to boost the economy.
The Prime Minster (pictured) said that the Government would be “stepping up to a new, active role to support British industry” post-Brexit.
The 10-point plan includes investment in science, research and innovation, developing skills, supporting businesses to start and grow and encouraging trade and inward investment.
A Green Paper will set out ways the Government can provide support to businesses by addressing regulatory barriers, agreeing trade deals and helping to establish institutions that encourage innovation and skills development.
Last week, May also revealed that she would seek tariff-free trade deals with the EU to ensure that cross-border trade was as “frictionless as possible”.
Commenting on the pursuit of tariff-free trade, BRC chief executive Helen Dickinson said: “The Prime Minister has an ambitious plan with the right priorities. It is crucial that Britain gets a new deal that works for ordinary British consumers, which doesn’t hit them with the costs of new import tariffs at a time when the pound is already weakened. The Government has an opportunity to secure a win-win deal that works for the UK economy, by keeping prices down for consumers, while allowing the EU to continue benefiting from its open-trade relationship with the UK.
“This deal will take time to agree. The proposed ‘phased introduction’ must at all costs avoid the cliff-edge scenario – a sudden and overnight change in trading conditions that won’t benefit anyone. The number-one priority for an orderly exit should be to allow all goods traded between the EU and the UK to be in free circulation.”