Brexit secretary David Davis privately ‘accepts’ Britain may need so-called ‘transitional deal’ when we leave the EU
In meetings with top officials and senior bankers he has indicated he is ‘not averse’ to an agreement which bridges gap after Article 50 runs out
THE BREXIT secretary has admitted privately Britain may need to enter into so-called "transition arrangements" when it leaves the EU.
David Davis has indicated in meetings with top EU officials and senior bankers he is "not averse" to such a deal, which has been suggested as a possible negotiating method with Brussels.
He has previously said he is "not really interested" in a transitional deal, which could bridge the gap between full membership and a new agreement outside the trading bloc when Article 50 runs out in 2019.
This also contradicts the infamous note pictured in the hands of aide to Mark Field, the vice chairman of the Conservative Party, after a meeting in 10 Downing Street with Mr Davis.
That said the UK government was "loath" to agree to a such an arrangement, but it has come to the forefront this week after the Chancellor Philip Hammond hinted it may be on the cards.
It would hopefully ensure Brussels leaders do not simply demand a higher price for getting out of the EU quickly, but has angered some hardline Brexiteers.
A source told the newspaper: "David cannot be seen to be begging for a transitional deal, or the European side will hold use to extract a higher price for on the divorce agreement.”
It is reporting that at talks in Europe last month with EU leaders he did not express objection transition arrangements in those meetings.
And he told a senior figure in the City he was "not averse" to limited transition arrangements, as long as it led directly to a full Brexit.
If this is true then it outs Mr Davis closer to Mr Hammond and his Treasury camp than previously thought.
The Chancellor told MPs that rushing the negotiations or the country’s departure from the EU could even threaten Britain’s financial stability.
His comments during a grilling by the Treasury Select Commons Committee raise the prospect Brexit will take much longer than the hoped-for two years.
Michel Barnier, the European Commission's chief Brexit negotiator, also said in his opening press conference last week a "limited transition" period could be useful.