"I don't think it makes sense for us to pretend that we should remain in the Single Market and I think there are real question marks about whether it makes sense to stay in the Customs Union. Clearly, if we do that, we cannot make our own trade deals with other countries," King said in an interview with the BBC Radio.
King said that Brexit presented a number of opportunities, including a chance to rework the system of agriculture subsidies, to revise the relationship with the Republic of Ireland with regard to Northern Ireland.
"And I think that being out of what is a rather unsuccessful European Union, particularly in economic sense gives us opportunities as well as, obviously, great political difficulties," King said.
A number of EU leaders have stated that the United Kingdom will lose its access to the EU Single Market unless it keeps freedom of movement rules. May, meanwhile, suggested at the Conservative Party conference in early October that control over immigration would be prioritized over the access to the European Single Market.
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