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The Future of The UK & Europe, A Report from Lloyds Bank, March 2018

With phase two of the Brexit talks set to begin this month, you could forgive the Prime Minister for wondering how it has been only three months since she successfully concluded phase one. Following a positively received Budget in November, the European Commission agreed at its December summit that ‘sufficient progress’ had been made on the ‘divorce bill’, the respective rights of citizens and a preliminary agreement on the Irish border.

From this starting point, the Government was supposed to be spending the first quarter of 2018 focused on the meaty topics of a transition period and the future UK/EU relationship. That new year optimism lasted until January 8.

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