Businesses everywhere are desperate for some certainty when it comes to the UK’s future relationship with the European Union. Yet, right now we’re in a state of flux with MPs unable to agree on the best course of action. That’s troubling for businesses, whether they’re a FTSE100 firm with a foot in different countries or a small business with an eye on costs and consumer confidence.
The seeds for the current impasse were sown some time ago – during the two-year period of negotiation in which Theresa May tried to fashion a deal that would see the UK fulfil the mandate of the 2016 referendum result while not causing the economy to suffer.
The timeline below shows what went on during that key two-year period and how the markets reacted to the twists and turns in the negotiations.
It features key moments such as May’s Lancaster House speech – where she set out her negotiating red lines – and the decision to call a snap election in which she lost her majority in the House of Commons.
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