Theresa May says United Kingdom can't keep 'bits' of European Union membership
- Author: Rogelio Becker Jan 10, 2017,
Jan 10, 2017, 0:52
That's great news for the army of blue-chips who make most of their money in strong dollars, but not so good for the domestic-focused mid-caps.
Mrs May fuelled speculation that Britain was heading for a "hard Brexit" outside the single market in an interview on Sunday in which she said she was not aiming to preserve "bits" of the UK's European Union membership and added: "We are leaving". The UK currency was also 0.76% lower against the euro, falling to €1.1558, after previously hitting a seven-week low of €1.1518. The best outcome for the United Kingdom is an ambitious trade deal plus control over our laws, trade policy and borders.
May insisted that she could get a bespoke Brexit deal for the EU which maintained access to European trade while restoring controls over immigration to London.
Yesterday, Mrs May told Sky News's Sophy Ridge on Sunday: 'We are leaving.
"Details will follow in the coming weeks, while the selling pressures on the pound will certainly stay until more details are revealed", said Ipek Ozkardeskaya, senior market analyst at London Capital Group.
Britain's pound was the big mover on currency markets, falling 1 percent against the dollar and the euro, in reaction to weekend comments from May that were interpreted as suggesting that she would prioritise reducing immigration over access to the European Union single market when Britain leaves the EU.
She stressed that "a new relationship" will need to be negotiated with the European Union across all areas, including trade.
The PM appears to be caught between a rock and a hard place, with hardline Euroskeptics demanding "full Brexit" while other Tory MPs are campaigning for a 'soft Brexit'.
She announced plans to speed up the provision of digital mental health services, to improve services for schools and to stop Global Positioning System charging patients up to 300 pounds for a form certifying their mental illness.
In her speech, the British premier outlined her vision of "shared society" and emphasized the importance of solidarity. They turn to those who offer easy answers - who claim to understand people's problems and always know what - and who - to blame.
However, May is the only European Union leader so far to have confirmed a visit to Washington to meet with President Donald Trump after his inauguration on 20 January. "Voices from the hard left and far right stepping forward and sensing that this is their time", she added. "Politicians who made the deals and signed the agreements that changed the nature of their country, but failed to listen to the public's concerns - dismissing them as somehow parochial or illegitimate instead".