UK has published proposals for how it wants the transition period immediately after Brexit to work. It says the period should last as long as it takes to prepare and implement the new processes and new systems. Number 10 denied this meant it would be longer than the planned two years.Add your comment!
More than 60 Conservative MPs have signed a letter to Theresa May making a series of suggestions about the government's Brexit strategy. The letter from the European Research Group says the UK should be free to negotiate and sign trade deals with other countries as soon as it leaves.Add your comment!
Theresa May is due to hold talks with German Chancellor Angela Merkel as she seeks to make progress on negotiating Brexit. The PM will travel on Friday to Berlin for the meeting at the Chancellery. It comes a day ahead of a speech on Saturday in which she is expected to set out the security partnership she wants to maintain with the EU.1 comment
For the first time in seven years, the Euro-zone's economy grew quicker than the UK's last year, according to data from Eurostat released on Wednesday. The preliminary growth estimates for the final quarter of 2017 showed the bloc of Euro nations growing at a combined 2.7% over the course of the year, having expanded 0.6% in the final quarter alone.2 comments
United Kingdom inflation remained at 3% in January, the same level as in December, as reported by the Office for National Statistics, ONS. In November it was the six year high of 3.1% and most economists were expecting a small fall in the CPI to 2.9%.1 comment
The Bank of England has indicated that the pace of interest rate increases could accelerate if the economy remains on its current track. Bank policymakers voted unanimously to keep interest rates on hold at 0.5% at their latest meeting. However, they said rates would need to rise earlier and by a somewhat greater extent than they thought at their last review in November. Economists think the next rate rise could come as soon as May.
British Prime Minister Theresa May was starting a crucial trade visit to China on Wednesday as she admitted the two countries will not always see eye-to-eye in sensitive areas like steel over-capacity and intellectual property rights.
The UK economy expanded at a slightly faster pace in the fourth quarter on services and manufacturing output, but the full-year growth was the weakest in five years, preliminary data from the Office for National Statistics showed. GDP grew 0.5% sequentially in the fourth quarter, while the rate was forecast to remain unchanged at 0.4%.
Prime minister Theresa May has been warned the UK risks disaster unless she sees off hard Brexiteers in her own party amid continuing Tory divisions over Europe. Ex-minister Anna Soubry said the PM must not let what she said were 35 MPs dictate the terms of the UK's EU exit.
A deeper relationship with Europe will benefit the UK economy, the governor of the Bank of England has argued. Mark Carney's comments follow claims by chancellor Philip Hammond that the UK and EU economies will only move very modestly apart after Brexit.