Brexit worth the wait

YES, the idea of extending the Brexit transition period is an unpalatable one. For at least two years after March 29 we will be tied to EU rules, without any ability to shape them, and with free movement continuing largely as before.

So why, many Leave voters will be asking themselves, should we prolong this uncomfortable stasis yet further, especially when it will inevitably come with a hefty price tag attached?

If the negotiations have proven anything, it’s that extricating this country from Brussels institutions, after the best part of half a century, is not a simple task – whatever promises were made during the referendum campaign. Indeed, even Brexiteers such as Liam Fox accept that more time may be needed to prepare for our departure.

Clearly, there must be a defined end point. But if transition lasts as little as a few months more, as ministers hope, and ensures a smooth and pragmatic departure, is that not worth the wait? In the short term, businesses and investors will gain confidence from certainty, and ministers can prepare to deal with every eventuality when it – finally – comes to an end.

Then there’s the realpolitik. The blunt truth is that until Mrs May stood up on Wednesday evening, the talks were deadlocked on the Northern Ireland backstop, and time was running short to discuss the critical second phase: the future trade partnership and security. The risk of a calamitous no-deal cliff edge was looming ever larger.

If, as it appeared last night, the two sides are inching towards a deal which ends any prospect of Northern Ireland being carved off from the rest of the UK, Mrs May’s gamble may well have paid off.

Predictably, the Prime Minister’s pragmatism sent some purist Brexiteers into a spin, and they began speculating wildly about toppling her. Such behaviour, at this stage of the talks, is deeply irresponsible. But after months of similar noises off, Mrs May’s enemies risk resembling paper tigers.