The business, energy and industrial strategy secretary has said he would welcome the idea of a longer EU transition period.
Speaking today (19 November) on BBC Radio 4’s Today programme, Greg Clark said the transition period could last longer than originally thought, possibly up until the end of 2022.
Clark’s comments come among renewed speculation that prime minister Theresa May could face a leadership challenge over her handling of the Brexit process.
“Businesses, especially small businesses, have said very clearly that they would much prefer to have one change, rather than have to change things twice, to two different regimes,” said Clark.
“It would be at our request, and that would be a maximum period. But it would be for this purpose – if the negotiations are making good progress but haven’t quite been finalised, to have the option – and it would be an option for us, and there is value in having an option – in rather than going in for a temporary period into the backstop and having a second change, to have the option, if the UK wanted, to extend the transition period.”
Specifically asked if this meant the transition period could extended to the end of 2022, as has been suggested by the EU’s chief negotiator, Michel Barnier, the business secretary replied: “The point is that if we have the option we don’t have to use it. Our strong preference is clearly to complete the negotiations.”
Last week, shares in the three listed water companies – Severn Trent, United Utilities and Pennon Group – all nosedived following the following the publication of prime minister Theresa May’s Brexit deal.