Theresa May’s speech today won’t have left any portion of her party ecstatic. As the Prime Minister promised ‘ups and downs in the months ahead’, she warned that ‘no-one will get everything they want’. With compromises coming down the track, May made sure to dish today’s disappointment out in an even-handed manner.
For the Remain side of her party that meant their hopes for a customs union compromise – as Isabel reported earlier in the week – were dashed. She not only re-iterated her stated position that the UK would leave the customs union but said that the UK should be able to set its own tariffs. That suggests not even a partial customs union is possible. There was also strong wording that there would not be a ‘soft’ Brexit that accommodates the City. May said that ‘passporting’ for financial institutions would end.
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