Latest: Govt notes Brexit 'with regret' but claims to have 'taken important steps to prepare for it'

Latest: The Government says it notes with regret the UK's decision to trigger Article 50.

Update - 1.20pm: The Government says it notes with regret the UK's decision to trigger Article 50.

In a statement this afternoon, the Government said significant preparations have been undertaken to limit the damage that could be caused by Brexit.