Theresa May has announced that as part of Britain exiting the European Union, the country will no longer retain its membership of the single market.

Speaking at Lancaster House during a much-anticipated speech, the Prime Minister laid our her 12 objectives for negotiating Britain's exit from the EU.

Mrs May said that a 'bold and ambitious' Free Trade Agreement would be pursued, in which the UK would not have to accept the free movement of people as part of its deal.

"But I want to be clear." the Prime Minister said. "What I am proposing cannot mean membership of the Single Market."