Parliament must be given a veto over any trade deals the UK signs after Brexit, a committee of MPs has urged. Ministers hope to begin negotiating deals with key partners once the UK leaves the EU in March and start implementing them from 2021 onwards.
The Royal Bank of Scotland has applied for a German banking license to help it retain clients in the European Union in the event of a no-deal Brexit. The move applies to all its subsidiaries, but would only affect NatWest, which trades across the bloc.
The Queen will say in her Christmas Day broadcast that the Christian message of “peace on earth and goodwill to all” is “needed as much as ever”. She will say the message is “never out of date” and can be “heeded by everyone”.
Vladimir Putin has urged Theresa May not to succumb to calls for a second referendum on Brexit. Speaking at his annual question and answer session with journalists, the Russian president questioned whether re-running a vote could be construed as democratic.
The Bank of England has kept interest rates on hold at 0.75% as it cautioned “intensified” Brexit uncertainties were slamming the brakes on UK growth. Policymakers on the Bank’s nine-strong Monetary Policy Committee (MPC) voted unanimously to keep rates unchanged in its last decision of 2018.
Another Brexit referendum will become a plausible way forward if there is deadlock in Parliament, Work and Pensions Secretary Amber Rudd has said. She told ITV's Peston show while she did not personally support another vote, the case for one would grow if MPs could not agree another solution.
The European Commission says it has started to implement its preparations for a no-deal Brexit - in case the UK leaves the EU without a plan. It has announced temporary measures to try to reduce the impact but says it cannot counter all the problems it expects.
The leader of Britain’s main opposition Labour Party, Jeremy Corbyn, said he was calling for a no-confidence vote in Prime Minister Theresa May — a largely symbolic gesture — for not putting her Brexit plan to a vote by lawmakers immediately.
British economic growth this year and in 2019 looks set to be the weakest since the country’s last recession, due to a freeze in business investment and weak consumer demand ahead of Brexit, the British Chambers of Commerce forecast on Tuesday.
Holding another referendum on the EU would break faith with the British people, Theresa May will warn MPs. Former PMs John Major and Tony Blair are among those urging a new referendum if MPs cannot agree on a way forward. But the prime minister will argue that it would do irreparable damage to the integrity our politics and would likely leave us no further forward.