UK PM proposes two-year Brexit transition period

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In what’s being hailed as her most important Brexit speech to date, UK Prime Minister Theresa May has been setting out plans for a two-year transition period. While she said Britain would pay its dues, there was no mention of the size of the divorce bill which is currently blocking negotiations.

Richard Bestic reports from London.

British Prime Minister Theresa May delivers her speech in Florence, Italy, September 22, 2017. /Reuters Photo

May made the remark in a speech in the Italian city of Florence during which she also said Britain would not turn its back on Europe and would maintain its old alliances in the continent.

EU budget

May suggested that the UK would honor its budget commitments made during the period of its EU membership.

"I do not want our partners to fear that they will need to pay more or receive less over the remainder of the current budget plan as a result of our decision to leave," May said. "The UK will honor commitments we have made during the period of our membership."

EU citizens' rights

Reuters Photo

May said she wanted UK courts to take into account judgments made by the European Court of Justice over the issue of EU citizens' rights.

"The rights of EU citizens in the UK, and UK citizens overseas will diverge," said May. "I want the UK courts to be able to take into account the judgments of the European Court of Justice with a view to ensuring consistent interpretation. And on this basis I hope our teams can reach firm agreement quickly."

Working with EU on security

May said it is vital that the quality of cooperation on security is maintained.

"Our commitment to the defense and indeed the advance of our shared values is undimmed. Our determination to defend the stability, security and prosperity of our European neighbors and friends remains steadfast."

The success of negotiations between Britain and the EU on Brexit is "in all our interests," according to May. "If we were to fail or be divided, the only beneficiaries would be those who oppose our values."

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