Speaking at the UBS European conference on Tuesday 14 November, he also said the UK would seek an agreement in principle of a transition period of around two years by January 2018. The FT quoted Davis as saying:

“We want to ensure that our new partnership with the EU protects the mobility of workers and professionals across the continent.... Whether this means a bank temporarily moving a worker to an office in Germany or a lawyer visiting a client in Paris, we believe it is in the interests of both sides to see this continue.”

The newspaper continued:

“Allies of Mr Davis say intra-company transfers between offices in different European centres should be treated differently to other forms of immigration, which are likely to fall under a new British work permit system.”

If agreed, it could allow posted workers for less than three months to come and go freely.

While the British government said that it is confident ministers at the December European Council meeting will agree on a deal in principle, the leader of the European People’s Party, Manfred Weber, was more pessimistic on a move to the second phase of negotiations.