UK wants reciprocal markets EU deal: Finance minister

AFP, BERLIN:  Britain and the EU should reach a deal allowing reciprocal access to each other’s markets—though London cannot compromise on regaining immigration control, finance minister Philip Hammond said yesterday.
London and Brussels should not fight against each other’s red lines but work in the space in between to find an agreement on Brexit, the chancellor of the Exchequer told Germany’s Welt am Sonntag newspaper.
Hammond said Britain had not taken a firm position on post-Brexit EU immigration, but the message from the June referendum vote to leave the bloc was: “we must control our immigration policy”.
He said European Union citizens would be free to travel to Britain and do business there—but the debate was over the right to work, settle and set up business.
“Clearly we need people to come and work in our economy to keep it functioning,” he said.
But as for having no control, “that has to stop”.
British Prime Minister Theresa May is to set out details of the government’s Brexit negotiating strategy on Tuesday.
Hammond said Britain wanted market access without Brussels politics.
“We are optimistic that we will be able to reach an agreement that gives reciprocal access to each other’s markets. The logic is there,” he said.
He hinted that London was ready to push through aggressive cuts to business taxes to ensure British-based firms remained competitive in the face of EU tariffs.

UK wants reciprocal markets EU deal: Finance minister

AFP, BERLIN: Britain and the EU should reach a deal allowing reciprocal access to each others marketsthough London cannot compromise on regaining immigration control, finance minister Philip Hammond said yesterday. London and Brussels should not fight against each others red lines but work in the space in between to find an agreement on Brexit, the chancellor of the Exchequer told Germanys Welt am Sonntag newspaper. Hammond said Britain had not taken a firm position on post-Brexit EU immigration, but the message from the June referendum vote to leave the bloc was: we must control our immigration policy. He said European Union citizens would be free to travel to Britain and do business therebut the debate was over the right to work, settle and set up business. Clearly we need people to come and work in our economy to keep it functioning, he said. But as for having no control, that has to stop. British Prime Minister Theresa May is to set out details of the governments Brexit negotiating strategy on Tuesday. Hammond said Britain wanted market access without Brussels politics. We are optimistic that we will be able to reach an agreement that gives reciprocal access to each others markets. The logic is there, he said. He hinted that London was ready to push through aggressive cuts to business taxes to ensure British-based firms remained competitive in the face of EU tariffs.