German Chancellor Angela Merkel gave Theresa May a Brexit boost as EU leaders gathered for a summit in Brussels, saying there were “encouraging” signs that talks on the future UK/EU trade relationship could begin as early as December.
Prime Minister Theresa May has made clear that she is not expecting a Brexit breakthrough at this week’s summit of EU leaders, describing it as an opportunity to “take stock” of progress so far. Mrs. May said she would be setting out “ambitious plans” for further negotiations in the weeks ahead, and said she wanted to inject a new “urgency” into discussions on the post-Brexit rights of EU citizens living in the UK and Britons on the continent.
The UK's key inflation rate hit its highest for more than five years in September, driven up by increases in transport and food prices. The Consumer Prices Index (CPI) climbed to 3%, a level it last reached in April 2012, and up from 2.9% in August. The pick-up in inflation raises the likelihood of an increase in interest rates - currently 0.25% - next month.
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.
Brexit negotiations should accelerate over the months to come, says a joint statement from the UK prime minister and the president of the EU Commission. Theresa May and Jean-Claude Juncker met in Brussels on Monday for a dinner they called constructive and friendly.
The EU is to begin preparing for its post-Brexit trade negotiations with the UK, while refusing to discuss the matter with the British government. An internal draft document suggests the 27 EU countries should discuss trade among themselves while officials in Brussels prepare the details. However the draft text could yet be revised.
The European Union's chief negotiator on Brexit talks says negotiations with the United Kingdom are stuck in a state of deadlock. The EU wants to know what divorce bill Britain is prepared to pay before talks go any further. British officials, on the other hand, want to begin trade talks now, before they commit billions.
The Conservative Party’s plans for a “no deal” hard Brexit would plunge the UK into immediate recession, cost the British economy £400 billion and wipe 18% off GDP growth by 2030, a leading investment bank has warned.
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.
Tourism is booming in the UK with nearly 40 million overseas people expected to have visited the country during 2017 - a record figure. Tourist promotion agency VisitBritain forecasts overseas trips to the UK will increase 6% to 39.7 million with spending up 14% to £25.7bn this year. Britons are also holidaying at home in record numbers.