Britain should enter a new customs union with the European Union, opposition Labour leader Jeremy Corbyn said on Monday, setting up a possible parliamentary defeat for Prime Minister Theresa May who has vowed to leave the arrangement after Brexit.
Credit Suisse plans to move about 250 banker jobs out of London under its first phase of Brexit planning, according to reports. Employees in areas such as trading and mergers and acquisitions were likely to be relocated to Frankfurt or Madrid, Bloomberg reported. The Swiss bank employs about 5,500 staff in London. A spokesman said Credit Suisse continued to investigate its options.
The leader of Britain’s opposition Labour Party, Jeremy Corbyn, will clarify the party’s position on Brexit this Monday in a move that could lead to a major parliamentary defeat for Prime Minister Theresa May. The Prime Minister has ruled out staying in any customs union with the European Union after Brexit because it would prevent the country from striking its own new trade deals with fast-growing economies such as China and India.
EU leaders have agreed to spend more on common defense and security policy in their next long-term budget, said European Council President Donald Tusk. Leaders of 27 states were meeting in Brussels to shape the 2021-27 budget.
UK's approach to the next stage of Brexit negotiations seems to be based on pure illusion, Donald Tusk says. The European Council president told a news conference in Brussels that the UK was still trying to cherry pick its future relationship with the EU.
British Prime Minister Theresa May will set out “the way forward” for Brexit next week after a meeting with top aides on Thursday intended to resolve differences over strategy that are dividing her team, and frustrating European Union negotiators.
The UK economy expanded by less than previously thought in the last three months of 2017, official figures say. GDP grew by 0.4% in the October-to-December period, the Office for National Statistics (ONS) said, down from the initial estimate of 0.5%. The revision was due to slower growth in production industries, the ONS said.
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.
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.
Angela Merkel has said that she is not frustrated by Britain's lack of clarity in Brexit, but is still curious about what the UK government actually wants to achieve in negotiations.