Prime Minister’s Mansion House speech

On 2 March 2018, the Prime Minister’s Mansion House speech outlined promising decisions and commitments, called for by the CBI, on the future trading relationship between the UK and the EU, the process of transition and immigration rules.

In December 2016, the CBI’s Making a Success of Brexit report called for the UK/EU trade should be as frictionless as possible post Brexit. In the Mansion House speech, Theresa May gave a commitment not to introduce tariffs or quotas as part of the negotiating guidelines.

In July 2017, the CBI called for a substantial transition period on immigration, and public clarity that no immediate changes to immigration rules are planned for March 2019. Theresa May confirmed that EU nationals will continue to freely travel to the UK, and will retain the same right to work here during the transition period. She also confirmed a route to permanent settlement.

The CBI has also called for the UK to continue participating in EU agencies. In her speech, the Prime Minister recognised that the UK should be involved in three of the agencies the CBI championed.

We’re also delighted to hear that, in line with our call to buy-in to temporary extension of EU FTAs during transition, that the EU has committed to notify trading partners that Britain should be treated as a member during the 21-month transition.

These wins provide much-needed clarity on a number of issues which are vitally important to business, but more progress and commitments are needed.

To find out more about the business view of the Prime Minister's Mansion House speech, download the CBI's full response.