The German government on Wednesday sought to pour cold water over Britain's hopes of a bespoke post-Brexit arrangement for financial services. German Chancellor Angela Merkel's spokesman told reporters that Berlin's focus would remain on preserving a unified stance among the 27 EU nations as Brexit negotiations prepare to enter a critical phase. Britain's financial services industry is expected to be one the main battlegrounds in the next stage of talks.1 comment
The United Kingdom government is facing new calls to release confidential studies drawn up by officials looking at the potential impact of Brexit on the economy. Twenty-five Labour MPs have written to Chancellor Philip Hammond calling on him to release the material after he disclosed the work was being carried out during a recent session of the Commons Treasury Committee.
Britain's Chancellor of the Exchequer has outlined cautious spending plans to a nation bracing for the shock of leaving the European Union, amid a stream of worsening of economic forecasts that hampered room for giveaways.
Philip Hammond has said he is “confident” businesses will be given the Brexit certainty they need although he sidestepped calls to ensure transition principles are guaranteed by Christmas. The UK Chancellor acknowledged the principles of a transition period are “urgent and pressing”, also telling MPs the Government wants them agreed with the European Union “as soon as possible”.
Reversing the Brexit process would boost the UK economy, the international economic body, the OECD has said. A new referendum or a change of government leading to the UK staying within the EU would have a significant positive impact on growth, the OECD said.
The British government will spend whatever is necessary to make sure the UK is ready for Brexit, Downing Street has said. A No 10 spokesman said £250m of new money had been allocated this year to prepare for leaving the EU, including the possibility of a no-deal scenario.
Businesses need more clarity on Brexit, the Chancellor, Philip Hammond, has acknowledged. Speaking at the BBC's Today program he said the sooner the government gave businesses more certainty about the process, the sooner the economy would pick up.
The Conservatives must take on and defeat Labour dinosaurs in a great clash of ideas over the future of capitalism, Philip Hammond has said, adding that activists must expose Jeremy Corbyn's back to the future socialist fantasy which was leading people down a dangerous path.
British Chancellor Philip Hammond on Sunday sent a thinly-veiled warning to Boris Johnson amid speculation that the Foreign Secretary is trying to destabilize Prime Minister Theresa May, declaring “nobody is unsackable”.
Theresa May is expecting Boris Johnson to remain in her Cabinet as Foreign Secretary, Downing Street has said. The comment came after Mr. Johnson dismissed reports that he might be on the verge of quitting and denied the Cabinet is split over Brexit, insisting: “We are a nest of singing birds.”