Theresa May Brexit speech: Prime Minister admits UK will have less access to EU, but demands trade deal on banking - as it happened
Follow all the latest updates as Prime Minister prepares for major speech
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Your support makes all the difference.Theresa May has outlined her vision for the future UK-EU relationship, as she warned the bloc that refusing to include financial services in a trade deal after Brexit would “hurt” its own economies.
In a major speech at Mansion House in London, she said a deal with Brussels should be the first free trade agreement to cover broadcasting and financial services.
The Prime Minister also said Philip Hammond, the Chancellor, will set out his plans for financial services next week, but said “we are not looking for passporting”.
In an attempt to address the contentious issue of the border between Northern Ireland and the Republic, Ms May said it is the responsibility of the UK Government and the European Commission to find a solution.
She also sought to highlight “tensions” in the EU’s position as she set out “five tests” for the UK’s future relationship with the bloc after withdrawal.
As it happened...
Positive reaction so far from Tory Remainers. Not much from the Brexiteers yet...
First reaction from EU leaders comes - not unsurprisingly - from European Parliament lead Guy Verhofstadt, who delivers a scathing verdict.
He says:
"Theresa May needed to move beyond vague aspirations, we can only hope that serious proposals have been put in the post. While I welcome the call for a deep and special partnership, this cannot be achieved by putting a few extra cherries on the Brexit cake."
Here's the full story on Guy Verhofstadt's reaction, courtesy of Jon Stone...
It's a more positive response from EU chief negotiator Michel Barnier. He tweets...
Here's more on Theresa May's announcement that the UK will seek to remain a member of several EU agencies after Brexit...
Interesting take from Ed Miliband's former adviser Stewart (now Lord) Wood..
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