Some key point from the PM's letter to the EU

Cheryl Sanders
March 29, 2017

Britain filed for divorce from the European Union on Wednesday, with fond words and promises of friendship that could not disguise the historic nature of the schism - or the years of argument and hard-nosed bargaining ahead as the United Kingdom leaves the embrace of the bloc for an uncertain future as "global Britain". "We already miss you", he said.

Britain would "take control of things that matter most to us and build a stronger, fairer Britain", Ms May said.

It says the primary objective of negotiations with Britain will to be to minimize uncertainties for citizens, the economy and the EU. European Commission President Jean-Claude Juncker has put the figure at around 50 billion euros ($63 billion).

The Brexit letter was expected to seek to set a positive tone for the talks and recap 12 key points which May set out as her goals in a speech in January, EU officials said. Merkel also plans to push May to cover the U.K.'s financial commitments, people familiar with her strategy said.

"The recent Tech Nation 2017 report revealed that the UK's digital tech industries now contribute a gargantuan £97bn to our economy, and the United Kingdom enjoyed £6.8bn in tech investment last year-despite the result of the EU Referendum".

Theresa May signed a six-page letter in Downing Street's cabinet room on Tuesday night, setting out the UK's initial negotiating position and declaring the UK's intention to leave the European Union.

British PM Theresa May addressed the British Parliament declaring "Britain's better days are ahead" as Britain formally launched the process to leave the European Union on Wednesday.


"What we should stress today is that, as for now, nothing has changed", he said. 'If the European Union completes the single market without the United Kingdom, bringing down the remaining non-tariff costs to trade, then it is much more likely that investment will be reallocated from the United Kingdom towards the mainland than if further progress in the European Union project stalls, ' Smith adds.

Britain acknowledges it will have to pay something, but is sure to quibble over the size of the tab.

"The loss of a major member is destabilizing for the European Union, which is battling to contain a tide of nationalist and populist sentiment and faces unprecedented antipathy from the new resident of the White House".

Davis said Monday that Britain will "meet our global obligations", but added: "I don't think we are going to be seeing that sort of money change hands".

"For investors it's crucial to stay focussed on the bigger opportunity and continue to back bold investments that can become the engine of tomorrow's post-Brexit Britain".

"We will act as one", he said, before closing on a poignant note.

It would also be flexible enough to cope with two evolving regulatory systems over time, said Hoban, a former junior finance minister. To ward against encouraging others to eye the exit door, European Union officials say Britain will not be allowed to enjoy better terms outside the bloc than inside it.


May also acknowledged there would be consequences for Britain in leaving the bloc and said she wanted to forge the closest possible security relationship with the EU.

"That prospect alarms many British businesses".

Other issues to be discussed early on include the border between the two Irelands, the rights of EU citizens residing in the U.K.as well as Britons living in the bloc and regulatory agencies such as the European Banking Authority.

The UK government says it wants to carry out both separation and trade talks at the same time, but European Union chiefs say the two issues must be handled separately.

"It will be a national failure of historic proportions if the Prime Minister comes back from Brussels without having secured protection for jobs and living standards".

At the same time, Britain's EU envoy, Tim Barrow, will hand-deliver a letter from May to EU Council President Donald Tusk.


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