Today (20th March), Sir Tim Barrow, the UK’s permanent representative to the European Union, informed the office of European Council President Donald Tusk of the UK’s intention.
“Last June, the people of the UK made the historic decision to leave the EU,” said David Davis, secretary of state for exiting the European Union.
“Next Wednesday, the government will deliver on that decision and formally start the process by triggering Article 50.
“We are on the threshold of the most important negotiation for this country for a generation.
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“The government is clear in its aims: a deal that works for every nation and region of the UK and indeed for all of Europe – a new, positive partnership between the UK and our friends and allies in the European Union.”
Michael Stanes, investment director at Heartwood Investment Management, commented: “Triggering Article 50 no doubt marks a period of ongoing uncertainty for UK business and markets, but perhaps there is also some relief that the process is finally underway.
“While Brexit dominates UK concerns, French and German politicians will probably be more focused on their own national elections, which will further test anti-establishment sentiment.
“We continue to remain cautious on UK assets and expect higher inflation to weigh on real income growth this year.”
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