Theresa May's reported Brexit plan has been endorsed by an influential think tank

Mark Sands
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The UK voted to leave the European Union on 23 June. (Source: Getty)

Prime Minister Theresa May's reported plans to quit both the Single Market and the European customs union have been backed by a former chancellor, who also warns that no "remotely acceptable" trade deal is possible.

This weekend saw reports emerge that May will this week make clear her willingness to quit the EU's trading blocs in order to gain control of migration.

The position, sometimes referred to as “hard Brexit”, puts the Prime Minister in line with a new report from hr predecessor's favourite think tank.

A Policy Exchange report, issued this morning, has called on May to do exactly that, while also seeking trade deals for sectors like the City.

Backed by former chancellor and Brexiteer Lord Nigel Lawson, the report calls for a “clean Brexit” that avoids “an acrimonious renegotiation” over the UK's Single Market and customs union memberships, as well as freedom of movement.

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It further calls on the UK to offer free trade to European member states, however, Lawson questioned the viability of this plan.

Writing in the foreword to the report, Lawson also noted that any hopes of securing tariff free trade may be in vain with EU governments seeking to demonstrate strength in the face of rising support for populist parties.

“We must accept that our free-trade offer will be rejected and that no remotely acceptable post-Brexit trade agreement between the UK and the EU is negotiable,” Lawson warned.

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