UK faces staying in the EU for five more years if Theresa May signs up to a long Brexit delay

BRITAIN faces being stuck in the EU for up to another five years if Theresa May signs up to a long Brexit delay this week.

Brussels chiefs plan to “reset” all dates in the PM’s deal so they kick into force once the extended membership comes to an end.

That would mean the transition period – during which the UK will be bound by EU laws – will stretch until the end of 2023.

It would mean Britain would still be under outside rule more than eight years after voting to leave in a referendum.

European Council chief Donald Tusk has proposed a lengthy Article 50 extension which would end on March 31 next year.

An EU source told The Sun on Sunday: “There’s an awareness now that if this extension were to be accepted then we move the entire Withdrawal Agreement.

“That means the clock is reset and the transition period would start from next March.”

The transition is designed to run for an initial period of 21 months, with an option to extend it by a further two years if required.

If there were to be an extension we’d have to use that period to contemplate on how to take this particular issue forward.

It is meant as a standstill period during which the UK and EU can negotiate a future trade deal.

An extension would also reset the bloc’s no deal plans meaning some that have been designed specifically for 2019, like on fishing, will need rewriting.

A senior EU official said: “These regulations would enter into force at the first day when the Treaties cease to apply to the UK.

“If there were to be an extension we’d have to use that period to contemplate on how to take this particular issue forward.”

Member States are split over whether to grant the UK a long delay or let it crash out of the bloc this Friday.

A hardline group of countries led by France, Belgium and Spain has floated a two-week extension to give markets time to brace for a No Deal.

But a more flexible camp, which includes Germany and Netherlands and is spearheaded by Mr Tusk, is calling for the EU to show more “patience”.

One EU diplomat said: “We could accept a no deal if the markets had priced it in, but there’s no sign that they have at all.

“If you do that now you’re going to have a Greece or Lehman Brothers style shock on the markets.”

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