No-deal Brexit 'would entail substantial costs'

Theresa May

Britain's Prime Minister Theresa May said she was focused on securing a Brexit deal rather than her own future

The Prime Minister has faced growing pressure over her Brexit plan - which has come to be dubbed as the "Chequers Plan" (after the location at which it was forged) that would result in Britain maintaining a common rulebook for goods, including agricultural products, with the European Union after Brexit.

Theresa May's comments on the issue this week mark the six-month countdown to Britain's formal exit from the European Union on 29 March, 2019.

Mrs May has been dogged by claims rebels in her party are seeking to depose in the next six months.

May, the centre-right Conservative Party's leader, said she was focused on securing a Brexit deal rather than her own future, in a BBC television interview out Sunday.

Meanwhile, speaking on BBC One's The Andrew Marr Show, Michael Gove the Environment Secretary thinks her plan, agreed at Chequers in July is the right one for the moment.

Brussels will reportedly accept that advances in scanning technology can be used to solve the deadlock on customs checks between Northern Ireland and the Republic.

"Another public vote on Brexit was never inevitable, or something I ever thought I'd have to call for".

The Labour Mayor of London joined calls for a fresh poll despite warning such a move would lead to "even more cynicism" among voters in the weeks after the 2016 vote to leave the EU.

Donald Trump taunts US media over Barack Obama error
Sherrod Brown, who faces a challenge from Republican Jim Renacci (reh-NAY'-see), a congressman from Wadsworth. Obama is hoping that sharing his administration's success story will boost Cordray enough to win in November.

"Let's be clear about this, under "no-deal" there would be some short-term disruption".

"There's a difference between those who think you can only be bloody hard in public, and those who think actually you bide your time, and you're bloody hard when the time is right - and when it really matters", she said.

The International Monetary Fund has warned that a "no-deal" Brexit on World Trade Organization terms would entail substantial costs for the United Kingdom economy. The economy will grow around 1.5 percent this year.

Ms Lagarde said that the United Kingdom would need to negotiate 63 trade deals in the event of a "no-deal" departure from the European Union.

The letter issued in May 2016, a month before the referendum, read, "As well as damaging our economy, membership of the European Union has left Britain vulnerable to the pressures of mass uncontrolled levels of immigration from Europe". However, there are some lawmakers and business leaders who are now arguing that the people must have the final say on the nature of the deal that Britain signs with the EU.

The boss of Britain's biggest carmaker Jaguar Land Rover (TAMO.NS) warned last week about the impact of Brexit on manufacturing and the company said on Monday it would go down to a three-day week temporarily at its Castle Bromwich plant in central England.

But Mr Johnson warned that, unless Mrs May's Chequers plan was dropped, Britain was "heading full throttle for the ditch with a total write-off of Brexit".

The fate of May's government and her Brexit plan is in doubt over whether she will be able to command the 320 votes needed in the House of Commons, the lower house of the British parliament, to approve a deal.

Latest News