Businesses Need Reassurances Of A Guaranteed Transition Period

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My question to the Secretary of State for Exiting the EU on how business will be protected from uncertainty during Brexit process.

Stephen Kinnock: The Secretary of State will know that the process for exiting the EU will have two steps: first, the article 50 negotiations, which will be by qualified majority voting; and secondly, the negotiation of a new trade deal, which will require unanimity and ratification by all the Parliaments of the EU. Will he guarantee that businesses will have the reassurance, which they desperately need, of a guaranteed transition period, rather than their falling off the cliff edge immediately after the article 50 negotiations conclude?

Mr Davis: The hon. Gentleman makes a good point, but I am not sure that he is exactly right about the mechanism for the final decision. He talks about what is effectively the next procedure, which is what has happened to the Canadian treaty. We have not yet engaged in the negotiation process, so we do not know exactly how it will work, whether it will be sequential or parallel—well, it will be parallel—and how the linkage between the various components will work. At that point, I will be in a better position to answer his question.