After months of campaigning, debates and opinion polls the people have spoken and decided that Britain should leave the European Union. Once the dust has settled on the result the long and arduous task of the Government negotiating an exit will begin.
One of the key questions coming out of this result is: will the UK retain access to the Single Market, through membership of the European Free Trade Association (EFTA)? This is what Norway, Iceland, Liechtenstein and Switzerland have done but it remains to be seen whether the UK will decide to pursue this option as it will require us to contribute to the EU budget, accept the free movement of EU citizens and to implement European legislation relating to the Single Market. The obligations are very similar to those required of full EU members, but without representation on any of the decision making bodies. It is also doubtful whether the EU will agree to UK membership of EFTA.