Thank you for contacting me about the economy and your proposal to extend the transition period.
I understand your concerns but the deadline for extending the transition period has now passed. I also believe that an extension to the transition period would only have created more uncertainty for businesses. A future partnership agreement will provide stability in the long-term and encourage investment and trade.
An extension to the transition period could also have had significant economic and political consequences for the UK. Our contribution to the EU budget would have continued and we would have remained under the jurisdiction of the European Court of Justice. The UK left the EU in January this year and the EU’s control over our affairs must come to an end.
Negotiations have continued throughout the coronavirus outbreak with discussions by videoconference in April, May and June following the first round of talks in March. Face-to-face negotiations have now resumed, and the technical detail is well understood by both sides. The differences that remain are largely of a political nature and I am hopeful that these can be resolved. The UK is not asking for a special, bespoke, or unique deal. We are looking for a deal like those the EU has previously struck with other friendly countries like Canada.
The UK and the EU agreed that the transition period would end on 31 December as part of the Withdrawal Agreement. This is part of UK law.