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SHANGHAI, CHINA, March 10, 2018 /24-7PressRelease/ -- Ashton Whiteley - British officials don't expect to reach an agreement on Brexit before the end of the year and sources close to the negotiations say January is a more realistic deadline for the conclusion of negotiations.
While Michel Barnier, the European Union's chief negotiator, has made it clear that he wants an exit deal finalized by October in order to give UK and European parliaments time to evaluate, Brexit Secretary David Davis has suggested that the deal could be delayed.
Ashton Whiteley analysts say the timing of the deal is crucial. Any delay would draw out the uncertainty felt by companies who want confirmation on how they will have to conduct business post Brexit. Less time also means that policymakers will have less time to assess the deal brought back from Brussels.
A significant vote on the Brexit deal has been promised to lawmakers but, if the deal is postponed until next year, this will leave little time to make any significant changes without causing further upheaval or risking the eventuality of no deal.
Ashton Whiteley economists say many businesses are hoping for a transition period after Brexit, which they believe will ease the exit process but any agreement on such a phase would not be legally binding until the final exit deal is signed and sealed. Prime Minister Theresa May is hoping to negotiate that period at a summit that will take place later this month.
British Foreign Secretary Boris Johnson has stated that the UK will walk away from negotiations if the EU does not agree to a favorable deal.
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