The Minister-designate for Foreign Affairs and Regional Integration, Shirley Ayorkor Botchway has expressed worry over Britain’s imminent exit from the European Union (EU). “I’m worried about Brexit,” she told Parliament’s Appointments Committee on Monday during her vetting, adding “any country that trades with the UK will be worried.” Nonetheless, she said she had been assured … Read more
Theresa May has said the UK “cannot possibly” remain within the European single market, as staying in it would mean “not leaving the EU at all”. But the prime minister promised to push for the “freest possible trade” with European countries and to sign new deals with others around the world. She also announced Parliament … Read more
The UK will not retain “partial” membership of the EU once it leaves, Theresa May will say in her much-anticipated Brexit speech. The PM will tell other European countries the UK wants to trade with them “as freely as possible” but will not be “half-in, half-out” of the EU. Her speech is expected to include … Read more
The pound has hit its lowest level for more than three months on reports Britain was set to quit the EU single market as part of its Brexit plans. Sterling fell below the $1.20 level before recovering slightly on Monday. The pound also dropped to a two-month low against the euro, falling more than 1% … Read more
The UK may be forced to change its “economic model” if it is locked out of the single market after Brexit, Chancellor Philip Hammond has said. Mr Hammond said the government would not “lie down” and would “do whatever we have to do” to remain competitive. He had been asked by a German newspaper if … Read more
Theresa May must spell out whether she wants the UK to remain in the single market and customs union, before Brexit talks begin, MPs have said. The Commons Brexit committee said the PM should “declare her position” by the middle of February to allow sufficient time for scrutiny. In its first report, it said MPs … Read more
A post-Brexit UK-EU trade deal might take 10 years to finalise and still fail, Britain’s ambassador to the EU has privately told the government. The BBC understands Sir Ivan Rogers warned ministers that the European consensus was that a deal might not be done until the early to mid-2020s. He also cautioned that an agreement … Read more
The UK faces higher food prices without continued access to EU workers, 30 food and drink associations have warned. In a letter published in the Guardian, they argue that EU workers play an important role in the supply chain and some are already starting to leave. It called on the government to offer “unambiguous reassurance” … Read more
Allowing ministers to trigger Brexit was Parliament’s “clear expectation” when it agreed to an EU referendum, the Supreme Court has been told. Attorney General Jeremy Wright said the government would be making “lawful” use of “fundamental” powers by triggering Article 50 of the Lisbon Treaty. He was speaking at a legal hearing into whether Parliament’s … Read more
Italian Prime Minister Matteo Renzi has resigned after suffering a heavy defeat in a referendum over his plan to reform the constitution. In a late-night statement, he said he took responsibility for the outcome. He said the No camp must now make clear proposals. An exit poll for state broadcaster RAI suggests 42-46% voted to … Read more
Campaigners are urging the government not to “cherry pick” different parts of the economy for special trade agreements with the EU after Brexit. Three pro-EU MPs argue this approach risks creating “losers” because almost all sectors are linked to the EU. Tory Anna Soubry, Labour’s Chuka Umunna and Lib Dem Nick Clegg all want the … Read more
EU leaders are not “bluffing” when they say the UK will be left without access to the single market when it leaves the bloc if there is no free movement of people, Malta’s prime minister says. Joseph Muscat, whose country assumes the EU’s presidency in January, told the BBC “this is really and truly our … Read more
Philip Hammond opens his first Autumn Statement by looking at the UK economic figures. The UK economy is “resilient” despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said. In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit … Read more
The Silicon Valley company is set to expand its British engineering team and open a new London HQ in 2017. Facebook isn’t batting an eyelid over Brexit — it still sees the UK as a great place to invest. The Silicon Valley-based social network announced on Monday that it was expanding its UK-based operations by … Read more
The government has no overall Brexit plan and a strategy may not be agreed for six months, a leaked memo prepared for the Cabinet Office suggests. The memo – obtained by The Times and seen by the BBC – warns Whitehall is working on 500 Brexit-related projects and could need 30,000 extra staff. However, there … Read more
Nigel Farage has become the first British politician to meet Donald Trump since he became US president-elect. A UKIP spokesman said the interim party leader discussed “freedom and winning” with Mr Trump on a visit to Trump Tower in New York. Mr Trump’s spokeswoman Kellyanne Conway said the meeting had been “very productive”. Downing Street … Read more
The “Trump Train” (once a Twitter hashtag and then a successful metaphor of the assertive, and to date unstoppable, reform wind blown by Donald Trump) is finally arrived at the White House. But this is very likely not the final destination of its journey. The Trump Train could soon arrive in Europe. And it would … Read more
The European Union yesterday edged up its eurozone growth forecast for this year but trimmed it for 2017, warning that the economy faced new challenges due to Brexit and rising inequality. Brussels also nearly halved its economic growth outlook for Britain itself next year due to uncertainty over the country’s vote to leave the bloc. … Read more
UK stocks have followed falls in Asian and European markets after Donald Trump won the US election. The FTSE 100 index was down about 0.5% to 6,812 in the first hour, although that was less steep than expected. Other major European stock markets are also lower, with money flowing into safe haven stocks, gold and … Read more
Asian stocks have tumbled after early results from the US presidential polls suggested a victory for Donald Trump looked more plausible. All major markets in the region are now lower, with money flowing into safe haven stocks, gold and currencies including the yen. Meanwhile the Mexican Peso has hit an all-time low against the dollar. … Read more