The opportunity ahead is to use this moment to build a truly global Britain, a country that reaches out to old friends and new allies alike. A great global trading nation, and one of the firmest advocates for free trade anywhere in the world. But I want to be clear, what I am proposing cannot mean membership of the single market.
And because we will no longer be members of the single market, we will not be required to contribute huge sums to the EU budget. There may be some specific European programs in which we might want to participate. If so, and this will be for us to decide, it's reasonable that we should make an appropriate contribution.
But the principle is clear, the days of Britain making vast contributions to the European Union every year will end.