Fitch: UK Brexit plan faces major political, negotiating hurdles

Fitch Ratings has recently published a report commenting on the latest developments surrounding Brexit negotiations.  

Key takeaways (via Reuters)

• UK Brexit plan faces major political, negotiating hurdles.
• Brexit plan formulated by cabinet late last week would position UK for relatively soft exit from EU, but it faces significant challenges.
• Resignations of David Davis and Boris Johnson highlight domestic political challenge UK govt. Faces in building support for its Brexit plan.
• Resignations of David Davis, Boris Johnson highlight uncertainty over political cohesion, policy platform of UK govt “evident” since June 2017 election.
• UK proposals will face a significant challenge in winning acceptance from EU.
• Full political ramifications of resignations of David Davis as Brexit secretary and Boris Johnson as foreign secretary are “unclear”.
• Technical challenges for Brexit plan include how to implement desired customs agreement and how to avoid a hard border in Ireland.
• New UK proposal could still have implications for its growth via less favourable trade access to EU markets.