In the run-up to the UK’s referendum on EU membership, the British government has been pushing for a postelection period to ease restrictions on foreign investment in Britain.
Prime Minister David Cameron said the period could last for up to five years.
However, the government is still trying to work out how to regulate the new British state.
With the EU’s departure due to take place on April 23, the post-election period is being delayed until November 4.
Cameron has said the new rules would have to be agreed by both Parliament and the British people, but he has also said the UK would continue to play a role in international affairs and the European Union.
According to the Financial Times, this would be a “historic event.”
“The world has changed so much since the Cold War, the world is much more interconnected than ever before and it’s not just the United States, China, and the EU that are competing for influence in the world,” Cameron said.
The Times reported that the new post-EU rules could be triggered by the British election, which could be held in the summer of 2019.
During the last five years, the UK has been a major source of foreign investment for the EU, the report said.
Britain has invested $5.5 billion ($7.4 billion) in the EU in the last year, according to a study published by the Institute for International and Strategic Studies (IISS).
While the EU is seen as a model of stability, the EU has been under pressure for the past decade to take action against Russia’s annexation of Crimea and support for the Assad regime in Syria.
Since the end of the Cold war, the United Kingdom has been the EU member with the highest per capita GDP in the bloc.
In the wake of the Brexit vote, the European Commission and European Parliament have both urged the UK to remain in the European Economic Area (EEA).
In a statement, the commission said it was “firmly committed” to ensuring that the UK stays in the EEA and that the EU remains an economic powerhouse.
“It is vital that the British economy remains strong and vibrant and that we maintain the European single market and customs union,” the statement read.
While some British business leaders and politicians have expressed concern about the postelection transition period, the country’s largest trade union, Unite, has said it would not negotiate over the transition period with the government.
Unite has called for the UK government to allow the public and political process to be held after the election to allow British people to weigh in on the future of the country.