Britain's Prime Minister Theresa May exits 10 Downing Street in central London on July 18, 2017, to greet Estonia's Prime Minister. / AFP / NIKLAS HALLE'N
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Britain will probably set up fewer than 10 new regulators after leaving the European Union, a government source said on Wednesday, offering the first assessment of how officials will tackle one of the most business-sensitive Brexit issues.Business lobbying group the Confederation of British Industry has previously suggested that 34 EU regulators will no longer have jurisdiction in Britain after Brexit.The government source did not detail which industries might need a new regulator.Specifically, firms worry whether domestic regulation regimes will allow them to access EU markets, whether British and EU rules will diverge over time, and if they will be asked to bear the cost of setting up new industry watchdogs.
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