UK Parliament May Get Vote on Single Market Access

Lawmakers may get a vote on whether Britain should stay in the European Union’s single market after Brexit, Prime Minister Theresa May’s government signaled, fueling calls for Britain to replicate Norway’s trade deal with the European Union.

Brexit Secretary David Davis said it is “quite likely” that Parliament will be asked to vote on whether Britain should leave the European Economic Area, which gives non-EU countries Norway, Liechtenstein and Iceland rights to trade in the single market.

May is planning to take Britain out of the single market but some pro-Europeans see EEA membership as a route to a softer Brexit in which the country would retain free trade with the bloc.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.