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UK pins hopes on ‘equivalence’ in more-distant EU relationship

By Matthew Holehouse, Hugo Coelho and Lewis Crofts ( October 20, 2016, 15:10 GMT | Insight) -- The UK government believes it can make a “clean” break with the EU, while retaining market access for British companies, because its regulatory standards are already fully synchronized with the bloc’s. But business executives fear such a settlement would be vulnerable to reversal by EU governments. David Davis, secretary of state for exiting the European Union, told lawmakers in Parliament today that the UK enjoys “absolute equivalence” in standards with the union that would allow for continuity of business.The UK government believes it can make a “clean” break with the EU, while retaining market access for British companies, because its regulatory standards are already fully synchronized with the bloc’s....

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