Chancellor confirms single market and customs union rules will still apply to UK firms immediately after EU departure

A Brexit transition deal will mean the UK retains the same rules that apply within the single market and customs union, the chancellor has said in remarks likely to infuriate Conservative hardliners.

Philip Hammond said that although “technically” the UK would not be in the customs union or single market, the transition deal sought by the government would effectively “replicate the status quo” on trade and migration.

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