Theresa May has finally set out her Brexit negotiating objectives. While she belatedly recognised that curtailing free movement requires leaving the single market, she wasn’t honest about the implications of leaving the customs union and her two-year timetable for striking an exit and a trade deal is unrealistic. The chances of Britain leaving without a deal, let alone a “phased implementation” of it, have risen. Businesses should prepare for a very hard, chaotic, cliff-edge Brexit. My column for Project Syndicate
