Associated Press

Associated Press

LONDON

Britain will begin the formal process of leaving the European Union by the end of March, Prime Minister Theresa May said Sunday, seeking to ease concern about the nation’s future and the threat of reduced foreign investment and the weakening of the economy.

Members of the ruling Conservative Party applauded wildly as May said the British people had made it clear that they wanted a clear date for exiting the EU and that she was going to deliver. European leaders and company executives have pushed the government to say when it plans to trigger Article 50 of the EU treaty, starting talks on the U.K.’s departure, so they can begin preparing for a post-EU Britain.

“We will invoke it when we are ready, and we will be ready soon,” she said. “We will invoke Article 50 no later than the end of March next year.”

While the prime minister had previously hinted that she planned to initiate Britain’s exit early next year, many observers had speculated she would wait until the conclusion of France’s presidential election in May or perhaps even the German elections in late summer or fall of next year.

But basking in the glow of party acolytes, a beaming May sounded as if she had campaigned for Britain to leave the EU all along – even though she had opposed that outcome before the June 23 referendum. In what sounded like a stump speech for “leave,” she hit on the emotive issues of sovereignty, immigration and world status.

She insisted there would be no unnecessary delays in bringing Brexit to pass – and that Britain would fight any legal challenges intended to derail the move. She sternly rejected the idea that the government would circumvent the result, making a face as she commented on those still fighting to stay.

Analysts said the deadline for starting the talks was welcome, but businesses still need more detail about what Brexit will mean for trade and immigration.

While Britain seeks to control immigration from the EU, free movement of labor is a founding principle of the bloc. This means that any restrictions on immigration are likely to result in barriers to trade between Britain and the EU, said Jonathan Portes, a senior fellow at the National Institute for Economic and Social Research.

“That means continued uncertainty for businesses, both those who trade with the EU and those who employ EU nationals,” Portes tweeted. “What we cannot do is delude ourselves that we can ‘have our cake and eat it.”