Brexit: Three ministers write 'continuity' letter

UK firms will continue to trade under "unchanged" EU rules during the post-Brexit transition period, three cabinet ministers have said in a letter.

Chancellor Philip Hammond, Brexit Secretary David Davis and Business Secretary Greg Clark said access to EU markets would continue on current terms from March 2019 for "around two years".
The open letter to business leaders follows Tory party rifts over Brexit.
Tory MP Jacob Rees Mogg said that would amount to "Brexit in name only".
The letter, addressed to "business leaders", said existing rules and regulations would still apply during the UK's Brexit transition, or "implementation period".

The duration of that period will be "strictly time-limited" and will last about two years, they said in the letter.
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"In order that our terms of trade remain unchanged during the implementation period, it will need to be based on the existing structure of EU rules and regulations," the three ministers wrote.
"Our intention is to mimic the breadth of our current arrangements, from goods to agriculture to financial services, meaning that every business, small or large, will be able to go on trading with the EU as it does today until it's time to make any changes necessary for the future partnership."
BBC political correspondent Chris Mason said the letter had sought to reassure employers "nervous about the implications of Brexit".
He said it also came after "a blast of internal turbulence" within the Conservative Party over the issue of Brexit.

Source BBC