I refer to the editorial ‘Crunch point for Brexit’, (July 13).

It is true business has been patient with Theresa May regarding Brexit but that is only because it had little option when it did not know the British government’s strategy.

Now that a fragile common negotiating position has been unveiled, the confusion continues. The government’s strategy towards the services sector, including financial services, appears to be on business having less access to the EU market. This will have an impact both on the UK and on EU countries with significant financial services ties to London such as Ireland, Luxembourg and Malta.

Moreover, as you rightly point out, the UK government is gambling on an à la carte approach and in so doing defying the so-called red lines of the European Commission. Michel Barnier has said repeatedly the commission will not countenance a pick and mix approach to Single Market access. 

Together, Britain and the wider business community faces the consequences of May’s ill-considered gamble. As George Bernard Shaw once remarked “in gambling the many must lose in order that the few may win”.

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