Markets Volatile as Theresa May Backs Hard Brexit

In a much-anticipated speech this morning, Prime Minister Theresa May backed a hard Brexit which allows the UK to negotiate its own trade deals outside of the European Union

Emma Wall 17 January, 2017 | 12:17AM
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UK shareholders saw investments falter as Prime Minister Theresa May today confirmed that we are leaving the single market. In a much-anticipated speech at Lancaster House in London this morning, May backed a hard Brexit which allows the UK to negotiate its own trade deals outside of the European Union.

“The British people voted for change and to embrace the world, believing it would lead to a brighter future for their children and grandchildren,” opened May. “I want this United Kingdom to emerge from this period of change stronger… a secure, prosperous and tolerant nation.”

May talked of building a “great, global trading nation”, and promised to work with and trade with European Union member countries – seeking a “new and equal partnership”.

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Emma Wall  is former Senior International Editor for Morningstar