This is one of the most closely-watched aspects of the Brexit plan. Chancellor Philip Hammond has promised to push for an adequate transition period for areas such as financial services regulation, which will be key to the City of London's survival.
This is a long way from Theresa May's conference speech quip, “if you believe you’re a citizen of the world, you’re a citizen of nowhere." One of the biggest challenges for her government in the longer term is how to balance her push to make post-Brexit Britain both an attractive destination to global business, and "a country that works for everyone "
While Brexit brings new trade opportunities, giving up the protection of EU standards --in areas such as food and farming-- may leave the U.K. vulnerable to having to accept cheaper imports which bypass British standards as part of a deal. U.S. beef has already been raised as a potential point of contention in talks.
The key word here is "vast" -what this is not saying is that contributions to the EU budget have been entirely ruled out. That allows for some wiggle room in negotiations.
This is an echo of Theresa May's "good deal or no deal" threat from her Brexit speech. Much of her strategy depends on the idea that Europe needs the U.K. as much as the U.K. needs Europe. Whether the European Commission, or certain key players in the EU -such as France- share that view is more doubtful.