Theresa May’s Brexit speech: What did we learn?

It was the speech that was supposed to make clear, once and for all, what “Brexit means Brexit” actually means. So what did we learn from Theresa May’s biggest speech as prime minister about the sort of deal she is seeking?

The single market

The prime minister does not want Britain to stay in the single market. This is no surprise: Ms May has been repeating since the Conservative Party conference in October that her top two Brexit priorities are controlling EU immigration and withdrawing from the jurisdiction of the European court of justice.

Those two objectives are incompatible with membership of the single market: her comments on Tuesday appear to confirm that. “I want to be clear that what I am proposing cannot mean membership of the single market,” Ms May said.

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How, where, and when to watch Theresa May’s Brexit speech

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European leaders had made very clear to her that single market membership required accepting the EU’s four fundamental freedoms – free movement of goods, services, capital and people – and “that would, to all intents and purposes, mean not leaving the EU”.

Instead she will seek “the greatest possible access [the single market] through a new, comprehensive and bold free trade agreement”.

The customs union

The customs union is the EU’s common trading area: goods from outside the area are charged a common external tariff to cross its border and enter it; goods already within it can circulate and cross borders freely.

A country that is part of the customs union cannot currently negotiate trade deals on its own – which is why many have suggested Britain is destined to leave it, because negotiating independent trade deals is a big part of what pro-Brexit campaigners think Brexit should mean.

Here the prime minister was less clear. “Full membership of the customs union prevents us from negotiating own comprehensive trade deals,” she said, and so she did not want Britain to be bound by the common external tariff.

But she also said: “I do want a customs agreement with the EU”, and for Britain to have tariff-free access to EU markets. That could mean a completely new customs union agreement, or partial membership, or retaining some aspects – how this would happen in practice can be decided.

Her remarks suggest will be looking for sector-by-sector deals for certain key businesses. Car parts, for example, cross EU borders dozens of times before completion, and customs checks would be disastrous for the automotive industry.

May also confirmed the government would be looking for a special deal for the City of London that will “give us freedom to provide financial services across borders”.

Guardian service