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giftedviz.com November 21, 2018


Number 10 says there is no alternative to May's Brexit blueprint

14 September 2018, 03:58 | Darnell Patrick

About 50 Conservative lawmakers discuss ousting UK Prime Minister Theresa May: BBC

Weekly Pound to Euro exchange rate chart

Before Barnier's comments, the pound had traded modestly higher against the dollar and Euro as data showed the British economy posting its fastest growth in nearly a year.

Several dozen rebel lawmakers are growing restive and have discussed attempting to replace May with a strongly pro-Brexit politician such as former Foreign Secretary Boris Johnson, a fierce critic of May's Brexit blueprint.

Mr Baker, a leading figure in the pro-Brexit Tory European Research Group, said the party's annual conference in Birmingham, starting on September 30, could prove a decisive moment as Mrs May is forced to acknowledge the scale of grassroots opposition to her proposals.

A group of pro-Brexit politicians and economists, meanwhile, argued Tuesday that Britain will be better off, not worse, if it leaves the European Union without a deal on future trade.

But Nadine Dorries, a Brexit supporter, said Mr Johnson's opponents were "terrified of his popular appeal" and if Mr Johnson became leader and prime minister he would deliver a "clean and prosperous" Brexit.

The group argued that reverting to World Trade Organization rules, which can lead to the imposition of tariffs on certain goods, "would boost the U.K.'s trade with the rest of the world including Europe, lower domestic prices and boost inward investment".

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Crashing out of the European Union without an agreement would leave producers with customs arrangements set by the World Trade Organization - where agricultural tariffs could top 50 percent, Sarah Baker, from the Agriculture and Horticulture Development Board, said.

He told the programme: "I always think that rather than allowing a unit in Downing Street to take on its own colleagues and backbenchers, and accuse and attack them, I think the best thing is always for them to say, "I tell you what, let's get together and thrash this out and see what we can come up with". We have wrapped a suicide vest around the British constitution - and handed the detonator to Michel Barnier.

Even a small rebellion inside her party on a final deal could spell the end of her minority government and throw Britain's exit into chaos.

Garvin said the jobs of only "hundreds" of JPMorgan's 16,000 staff in the United Kingdom would be immediately affected by Brexit, though that could rise to around 4,000 in the years to come depending on the settlement reached between Britain and the EU. Under Conservative rules, a leadership election is triggered if 15 percent of Conservative lawmakers, now 48 out of its 315 members of parliament (MPs), demand a vote of no confidence. That would require letters from 48 of the 315 Conservative members of parliament. One of those present said opposition to her leadership has hardened over the summer.

May's spokesman said her proposal, known as "Chequers" for the country house where it was hashed out in July, is the only serious, credible and negotiable plan available. The British government has rejected similar proposals in the past.



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