(TDB) - A white paper on Brexit was been published this week setting out Theresa May’s vision for the UK’s future relationship with the EU, which will significantly affect the drinks trade.

The UK will leave the single market and the customs union and will instead create a “facilitated customs arrangement” to remove the need for customs checks and controls at the borders.

It also spells the end of freedom of movement, leaving the Common Agricultural Policy, and the Common Fisheries Policy, as well as terminating the jurisdiction of the European Court of Justice.

The government hopes that the UK will be able to collect tariffs on behalf of the EU, but that it can set its own tariffs when trade deals with other countries are signed.

While trade bodies such as the Institute of Directors have welcomed the briefing’s publication, economists are wary of what the intricacies of looser trade ties with Europe will mean for the UK’s finances.

A foreword from Brexit secretary Dominic Raab within the document also states that the UK wants to “maintain frictionless trade in goods” with EU through a new free trade area.