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Transitional deal would offer banks hope on Brexit

A statement of intent to push for a two-stage exit from the European Union could go a long way to calm City nerves

Theresa May speaks at the CBI annual conference on Monday
Theresa May speaks at the CBI annual conference on Monday Photo: Getty Images

At first it looked as if it had all been carefully planned.

Speaking at her first CBI conference as Prime Minister, Theresa May said the government would work to prevent business falling off a "cliff edge" after the UK's exit from the European Union. This followed reports that ministers had been persuaded of the need for a transitional regime to bridge the gap between exit and an eventual long-term deal on access to EU markets.

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