Will be interesting to see how the UK and EU approach this. It will be in the interests of both to go along with something like this on economic grounds. But May might put party unity ahead of tax revenues and jobs and the EU may play hardball if it doesn't see the downside.
British banks in call for five-year Brexit buffer
"The UK’s financial institutions, who trade on the Continent under EU passporting rules, are calling for the current set-up to stay in place in a transitional deal lasting between three and five years in a confidential document submitted to the Treasury."
Without an interim arrangement, it claims some banks may not be able to move parts of their operations out of Britain or set up new British subsidiaries in time, threatening an abrupt halt to EU business.*
“Transitional arrangements are likely essential,” the document says. “This is important in order to avoid potential damage to the ‘real economy’ that is reliant upon uninterrupted access to financial services.”
http://www.standard.co.uk/business/b...-a3416461.html