What Theresa May's speech means for the Brexit economic outlook

Simon Tilford, deputy director at the Centre for European Reform in London, argues that a transitional deal, one that would run in theory from 2019 through 2022, will still be hard to nail down, as the EU will insist on a high degree of freedom of movement in that time. That would leave May unable to deliver a meaningful cut in immigration before the next election in 2020.

...In the final analysis, May didn't say much that her more combative Euroskeptic ministers would disagree with. But her delivery was, as Tilford put it, "calm and conciliatory."