JP Morgan predicts Brexit deal to be agreed in coming days – but parliamentary approval won’t come until 2019 November 9, 2018 Banking heavyweight JP Morgan revealed today that it believes a transitional Brexit deal is likely to be signed between Britain and the EU within the coming days. JP Morgan economist Malcolm Barr said in a note to clients: “Agreement in time for a November 17-18 summit appears to remain possible even if odds are slightly [...]
Theresa May invites ministers to preview draft EU deal November 7, 2018 Theresa May has invited Cabinet ministers into Downing Street to catch a glimpse of the UK’s draft deal with the European Union. The deal being discussed is not the full withdrawal agreement and crucially does not contain the protocol on Northern Ireland, which Downing Street said was still to be finalised as negotiations were ongoing. The [...]
Britain’s economic growth is being stifled by visa red tape November 7, 2018 Political momentum is building to take a fresh look at visa restrictions on international recruitment of skilled people. The most media coverage has rightly been given to the refusal of 1,500 doctors, which the NHS desperately needs. But the government’s strict attitude to migration is causing problems across business professions and public services. The [...]
Downing Street denies leaked Brexit timetable November 6, 2018 Reports tonight of a leaked document apparently from the Department for Exiting the EU, which outlined the government’s strategy for revealing a successful Brexit deal to the press and MPs later this month, have been refuted by Downing Street. A spokesperson for the Prime Minister's office said the document seemed "childish", denying its authenticity: "The [...]
Theresa May emerges from Cabinet meeting insisting she will not agree a Brexit deal ‘at any cost’ November 6, 2018 Theresa May has emerged from a tense Cabinet meeting this morning insisting she will not agree to a Brexit deal "at any cost", despite the clock ticking on reaching a Withdrawal Agreement. The Prime Minister's spokesperson said ministers needed more time to consider possible mechanisms that will prevent the UK from being tied to the European [...]
Trade minister Liam Fox says it is ‘impossible’ to say whether a Brexit deal will be achieved this month or next November 6, 2018 International trade minister Liam Fox has admitted that it is impossible to say whether a Brexit deal can be reached with the European Union in the next two months, as negotiations continued to stall over the Irish backstop. Asked by Reuters whether a Brexit deal will be struck this month Fox said: “That’s impossible for me [...]
Ofgem’s energy price cap to come into effect from new year, but critics say switching is still more effective November 6, 2018 Ofgem's energy price cap is set to come into force from 1 January, the regulator said today. But consumer groups have warned it is a “temporary fix” that could put customers off switching between providers to find the cheapest deals. Ofgem said the cap, announced in September, will reduce £1bn in overcharging on gas and electricity [...]
Pound hits two-week high as markets grow optimistic over Brexit deal November 6, 2018 The pound hit a two-week high today as the markets expressed optimism that a Brexit deal is close. Sterling rose as high as 1.308 against the dollar this morning, its highest since 18 October, following a report from The Times that the EU was set to agree to compromise over the thorny issue of the Irish [...]
Varadkar expresses ‘openness’ to Irish backstop review, but rules out British withdrawal November 5, 2018 Ireland Taoiseach Leo Varadkar said today he is open to the idea of a review of any so-called Irish backstop arrangement, as long as Britain could not decide to kill off the temporary measure. A way of avoiding a hard border on the island of Ireland is widely considered the biggest obstacle to the UK and [...]
Business confidence hits lowest level since the financial crisis November 5, 2018 Confidence among UK businesses has fallen to its lowest level since 2008 amid a lack of progress in Brexit negotiations, according to new figures published today. The Institute of Chartered Accountants in England and Wales' (ICAEW's) Business Confidence Monitor index showed a sharp fall in confidence since last quarter from -0.2 to -12.3, lower than after both the [...]