Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

The Government and I believe that the longer the transition period, the better. That period will need to be closer to four or five years than two years. The time that is needed for a transition period will also be determined by the approach of the United Kingdom towards these negotiations. If the UK wants to negotiate a Canada style free trade agreement, it will take a number of years. If the UK wants or chooses an option that keeps the United Kingdom much closer to the Single Market and the customs union in the future, it may not involve as much change, and therefore may not involve as long a transition period.

Let me be very clear that the transition period, however long it is, or the adaptation period as some people call it, will involve Britain remaining as part of the Single Market and customs union as it is today. The guidelines will be crystal clear on this at tomorrow's meeting. The full EU acquiswill apply. The only difference will be that Britain will not have a presence within the EU institutions as it has today. Everything else remains intact. This will give certainty during that period for businesses operating between Ireland and the UK.

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