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Even before Theresa May had time to sit down after her speech, newspapers in Europe were quick to point out that the UK was heading for a "hard" Brexit.

The UK leader is opting for a hard Brexit and wants to lead Britain out of the European single market," writes Germany's Die Zeit on its live page.

"British Prime Minister bets on hard Brexit," says Spain's ABC.

"Theresa May confirms that with Brexit UK will leave European Single Market," another Spanish paper, La Vanguardia, notes.

"Even though she rejects the term, it is indeed a hard Brexit," argues the French dailyLe Figaro. 

Mrs May "has announced a clear separation from the EU in her keynote speech," says Germany's Die Welt, adding that "In doing so, she made it clear what the country is interested in - an orientation towards countries that are not part of the EU."

The view is echoed in Die Tagesspiegel: "British Prime Minister May wants a clear separation from the EU. She seeks exit from the internal market too."

But El Mundo points out that Mrs May had made it clear that the final deal would be put to vote in parliament while El Pais notes that the pound rose during the speech.

The Business Chambers of Commerce: "In business, what you achieve in a negotiation - not what you bid for - is what really matters. While businesses now have a clearer sense of the Prime Minister's top-line priorities, they will come away from her speech knowing little more about the likely outcome of the Brexit negotiations than they did yesterday."

The TUC: "We are pleased the prime minister has committed to a parliamentary vote on the final deal. But before that vote, we will need to know exactly what the new framework she promised for workers’ rights and jobs will be. Working people are worried they will end up paying the price of leaving the single market."

Aerospace and defence trade body ADS: "Securing the best deal for the UK and our EU partners will take time and it is essential that there are transitional arrangements in place to avoid disrupting closely integrated supply chains and damaging the UK’s global competitiveness."

Greenpeace: "It's a fact that leaving the single market would undermine vital environmental and consumer protections we now take for granted. Many of the laws that keep our bathing water clean and control dangerous air pollution and toxic chemicals come from the EU."

Image source, Getty Images

The Irish government has welcomed the "greater clarity" that Theresa May's speech has brought to how the UK will approach Brexit negotiations.

It said it shared the UK's goal of the closest possible economic ties, the maintenance of the common travel area between the UK and Ireland and "no return" to a hard border between the north and south.

However, it said the blueprint outlined by Mrs May would be seen by many observers as a "hard exit". 

Image source, PA

In all the buzz surrounding Theresa May's speech, we must not forget the fact that Chancellor Philip Hammond pipped her to the post while speaking in the Commons (see entry 12:01 GMT).

He told MPs: "We cannot be members of the single market because of the political red lines around the four freedoms that other European leaders have set.”

Mr Hammond also noted sterling had "spiked up" during the PM's speech.

The UK prime minister says stronger ties among the four nations of the UK will lead to greater post-Brexit trading.

• We will provide certainty wherever we can.
• Leaving the European Union will mean that our laws will be made in Westminster, Edinburgh, Cardiff and Belfast.
• A stronger Britain demands that we strengthen the precious union between the four nations of the United Kingdom.
• We will deliver a practical solution that allows the maintenance of the commons travel area with the Republic of Ireland.
• Brexit must mean control of the number of people who come to Britain from Europe.
• We want to guarantee rights of EU citizens living in Britain & rights of British nationals in other member states, as early as we can
• Not only will the Government protect the rights of workers set out in European legislation, we will build on them.
• We will pursue a bold and ambitious Free Trade Agreement with the European Union.
• It is time for Britain to get out into the world and rediscover its role as a great, global, trading nation.
• We will welcome agreement to continue to collaborate with our European partners on major science, research and technology initiatives.
• We will continue to work closely with our European allies in foreign and defence policy even as we leave the EU itself.
• We believe a phased process of implementation will be in the interests of Britain, the EU institutions and member states

Nick Eardley
BBC Scotland Westminster correspondent

The UK is leaving the EU single market.

Prime Minister Theresa May made it clear she does not think remaining in it would honour the June referendum result.

The prime minister argued today that the UK needs to face the future together, as one union.

But her speech today puts her on a collision course with the Scottish government, which has made staying in the single market its key Brexit demand.

Does that bring Scotland closer to a second independence referendum?

Nicola Sturgeon has said she isn’t bluffing, that she’s prepared to hold another vote if she doesn’t think the deal is good for Scotland.

Her reaction to this speech will be watched closely.

It was a simple, clear message from Theresa May amid the grandeur of Lancaster House.

House of Commons
Parliament

SNP MP George Kerevan asks the chancellor to confirm that "the UK would always pay into EU budgets".

Philip Hammond says that, if "we continue to collaborate in certain areas" such as scientific projects, the UK would "continue to contribute" to those projects.

However, he adds that such matters would be decided in negotiations with the EU.

House of Commons
Parliament

Labour MP Fiona Mactaggart's question asks for an assessment of "the effect of recent trends in the value of the pound on the economy".

"The government does not comment on currency movements," the chancellor tells her, before claiming: "During the last few minutes, the pound has spiked up while the prime minister has been speaking."

Speaker John Bercow interjects to joke that Philip Hammond "doesn't comment on currency movements, unless he does".

Ms Mactaggart says that the government briefed that the pound would fall as result of Theresa May's speech, accusing it of doing so to give the chancellor the opportunity to utter a "soundbite".

Here's some initial reaction from both sides of the Brexit fence. 

Veteran Tory Eurosceptic Sir Bill Cash says he agrees with the PM that "no deal is better than a bad deal".

While a comprehensive free trade deal is the best option, he tells Sky News that "there will be no bad deal as we will walk away - that is clear".

UKIP spokesman Suzanne Evans says the general outline was positive. Continued membership of security and intelligence agencies like Europol would be completely unacceptable but she would support continuing contributions to the EU during an interim or transitional period.

Lib Dem leader Tim Farron says Mrs May has adopted "Nigel Farage's Brexit plan" which is bad news for the UK, accusing the prime minister of "waving the white flag across the white cliffs of Dover" regarding single market exit.

He says there has been a "theft of democracy" and it is wrong for Parliament to be given a vote on this "stitch-up" and the public not being consulted.

Theresa May took a few questions after her speech. 

She was asked, among other things, about her party's U-turn on the single market - the Conservatives backed membership in its 2015 manifesto - potential controls on immigration which might come into being and what will happen if Parliament votes against the final Brexit deal.

She says there is a "goodwill on both sides" and the UK and EU can build a partnership beneficial to both of them in a constructive and positive way. 

Laura Kuenssberg
BBC political editor

Under the gilt and candelabra of Lancaster House where Margaret Thatcher extolled the virtues of joining the single market, Theresa May has just uttered some of the most important words she will ever deliver.

She has, for the first time explicitly, confirmed that she has decided not to try to preserve our membership of the European single market. Instead she is hoping to conclude a deal with the rest of the EU that will still give business the access it needs to trade with the rest of the continent without barriers, tariffs or any new obstacles.

Since the referendum she and her ministers have simply refused to be so explicit. Some Remainers have argued that she ought to try to keep us in the vast partnership, the risks to the economy are too vast, and while it might be complicated to achieve, the prize is simply too great to give up.

For months some ministers have privately whispered about complex solutions that might keep elements of membership, the choices not being binary, mechanisms that might give a sort of membership with a different name.

Well no more, the simple and clear message from Theresa Mays speech this morning is that we are out. The irony that she has delivered that vow on the same spot where her predecessor swore the transformative value of the single market hangs alongside the glittering chandeliers