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May raises possibility of Brexit transition deal

Britain's Prime Minister Theresa May leaves 10 Downing Street in London on December 20, 2016Prime Minister Theresa May on Tuesday said she was planning to negotiate both Brexit and Britain’s future relationship with the EU by 2019 but a transition period may be required after that. Appearing before a parliamentary committee, May said companies and government might require time to adjust, in her first comments explicitly evoking a possible transition arrangement to ease Britain’s EU departure. It “would tend towards a smoother transition and would run less risks of disruption including, crucially, risks to financial stability which must be a fairly real concern”, he said last week.

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