Leadsom Unveils Brexit Plan in Bid for Tory Leadership: Sun

(Bloomberg) -- Andrea Leadsom, a prominent Leave campaigner who has thrown her hat in the ring to replace Theresa May as U.K. Prime Minister, has finally unveiled her three-step plan to leave the European Union, according to her commentary in the Sun newspaper.

• Says its vital to leave the EU by Oct. 31 without any further extension to that deadline
• First step is to introduce two bills to protect U.K. citizens and enshrine agreed-upon measures between U.K. and EU
  • First bill is a citizen rights bill for EU citizens living in the U.K and British citizens who have made home in the EU in order to have "weight of uncertainty lifted from their shoulders
  • Second bill intends to lock in measures that have been agreed upon between Britain and EU such as citizen rights in Gibraltar, security and intelligence sharing relationships as well as agreements on transport, data and medicines
• Second step to give business and industry the confidence to plan for managed exit, Leadsom plans to focus on delivering alternative arrangements for the Northern Ireland border with the EU
  • To propose specific regulatory agreements with EU for sectors like automotive and aerospace pertaining to ‘just in time" supply chains
  • To seek specific customs agreements on tariff and non-tariff barriers for industries like medicines and agri-foods
  • Leadsom says intention is to protect trade for vital goods and services while allowing the U.K. to embrace new trade deals globally
• Third step involves leading a delegation of UK ministers to meet with the EU Council and EU commissioners to discuss the preparations for the Oct. 31 managed exit
  • Wants discussions to culminate in a summit in September in Belfast and Dublin
  • At summit EU Council and Commission will be invited to agree on the measures that will be mutually accepted

To contact the reporter on this story: Niluksi Koswanage in Singapore at nkoswanage@bloomberg.net

To contact the editor responsible for this story: Niluksi Koswanage at nkoswanage@bloomberg.net

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