British finance minister Philip Hammond said on Sunday that uncertainty about how the country will leave the European Union could be eased later this year once the negotiating positions of both sides become clearer.
“What will start to reduce uncertainty is when we are able to set out more clearly the kind of arrangement we envisage going forward with the European Union,” Hammond told reporters at the end of the meeting of top finance officials from the Group of 20 economies.
“If our European Union partners respond to such a vision positively – obviously it will be subject to negotiation – so that there is a sense perhaps later this year that we are all on the same page in terms of where we expect to be going. I think that will send a reassuring signal to the business community and to markets,” he said.
The shock decision by British voters in a referendum to leave the EU has featured heavily in the G20 meetings in Chengdu on Saturday and Sunday. Officials from many countries have said they want more clarity on how the Brexit process will unfold.
(Writing by William Schomberg; Editing by Jacqueline Wong)