While speaking at the UK Conservative Party annual conference on 2 October 2016, Prime Minister Theresa May announced that the UK will invoke article 50 of the Lisbon Treaty no later than the end of March 2017, which begins the formal process of leaving the EU. Once invoked, the UK's membership in the EU will end within two years, unless the two sides decide to extend the negotiation period for the exit.
Also speaking at the conference, Chancellor of the Exchequer Philip Hammond confirmed th…