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The Queen today signed into law the Act of Parliament authorising Theresa May to take Britain out of the European Union.

Speaker John Bercow announced the historic milestone to the Commons, sparking a furious row over the Prime Minister’s plans for Brexit terms.

Mayor of London Sadiq Khan called for a new visa process to help EU nationals legally in the UK to apply for permanent residency.

Mr Khan said the current system involved a “tsunami” of paperwork and was not fit for purpose.

He also urged the Government to give an “immediate” cast iron guarantee to the 3.3 million EU citizens living here.

The Mayor told the Standard: “It is quite clearly completely unacceptable that hard working people who have made their lives here and have contributed to our economy are now in fear of their long-term future.”

Under the current system, people must fill in an 85-page form and provide copious documents.

Brexit Secretary David Davis said: “By the end of the month we will invoke Article 50, allowing us start our negotiations to build a positive new partnership with our friends and neighbours in the European Union, as well as taking a step out into the world as a truly Global Britain.”

Lib Dem leader Tim Farron urged business leaders to boycott Tory fundraising drives unless Mrs May softens Brexit.

He urged Conservative donors: “If you are giving the Tories so much as a penny you are funding your own funeral.”

Mrs May will confirm in a party speech in Wales tomorrow that she intends to trigger Brexit talks by moving Article 50 of the Lisbon Treaty at the end of this month.

The other 27 EU countries will hold a summit next week without Mrs May to consider their response to what the Prime Minister has called the “defining moment”.

The European Union (Notification of Withdrawal) Act, authorising Brexit, was required by the Supreme Court which ruled that the Government needed the permission of Parliament first.

The Square Mile warned the Prime Minister not to risk the financial sector in London by having a hard Brexit.

Urging a “smooth transition”, a City of London Corporation spokesperson said: “As an industry we contributed over £71.4 billion to the economy in the latest tax year, accounted for over 2.2 million jobs across the country and are a key element of a strong and sustainable economy.

“It is essential that Government makes clear its aim to implement a transitional deal, clarifying exact timelines of when the transition phase will begin; what rules will apply to the UK in the interim; and an indication of when the financial services sector can expect to adopt the new rules.

“To ensure a smooth transition, Government should seek to secure an arrangement that is a close as possible to our existing one.”

It said the Government had steadies nerves by keeping to its timetable for triggering Article 50.