It looks like Brexit will happen earlier than first thought, with Britain set to leave the European Union three months earlier than it had been expected.
It has been reported that 31st December 2020 has been agree by negotiators on both sides in this tricky deal as the official date for the separation to happen.
Speaking to The Sun, a government source said: “The EU timetable is the working assumption and no one seems too upset by that.”
Initially, British Prime Minister, Theresa May, was hoping for a transition period of ‘around two years’ following 29th March 2019 but officials are happier to have a grace period of 21 months.
The EU’s chief negotiator, Michel Barnier, told reporters that a shorter time for the transition period would be more beneficial to both parties and would be ‘useful for Britain to get prepared for the kind of challenges they will face… and for the new relationship’.
He also added that UK businesses will still have access to the single market but they must continue to adhere to its obligations and duties of the policies they share.
Mr Barnier warned British companies to ‘start preparing for this right now’.
The Prime Minister is set to give a speech this week, talking about how she sees the relationship between the UK and the European Union panning out post-Brexit.