Losing access to the single market and passporting would be “calamitous” for the financial services sector, say MPs November 3, 2016 Losing access to the single market and passporting would be "calamitous" for the financial services sector, MPs have said. In a backbench debate on the impact of Brexit on financial services, Conservative MP Stephen Hammond listed the risks of losing vital access in a deal with the EU. He called on the government to look at "cross [...]
MPs are set to draw up their own list of objectives for Theresa May’s talks with the EU November 3, 2016 Parliament's new Brexit watchdog has launched a probe into Theresa May's plans for negotiations with the EU. The Brexit select committee met for the first time yesterday, and its newly elected chair, Hilary Benn, has now revealed that MPs will investigate the objectives of the UK in quitting the EU. Benn's committee, which includes prominent [...]
Mark Carney predicts more uncertainty on economy following Article 50 ruling November 3, 2016 Bank of England governor Mark Carney has described today’s Article 50 ruling as another example of uncertainty around Brexit which is affecting the economy. The Bank’s Monetary Policy Committee (MPC) today held interest rates at 0.25 per cent as it revealed ramped-up inflation and near-term growth forecasts. Read more: Bank holds interest rates as inflation and [...]
Parliament will now debate whether to invoke Article 50: So what? November 3, 2016 The government has taken one in the eye. This will please many observers, but I’m afraid, if you’re one of the many rejoicing on social media now, this result will be short-lived. I confess to thinking that the decision is an odd one. After all, two previous legal challenges brought by the McWhirter twins (yes, [...]
What does Brexit mean, anyway? Brexit, apparently… November 3, 2016 Brexit means Brexit. At least, that's what Theresa May wants you to think. Ever since the UK voted to leave the European Union in June, MPs have been begging the government to let them know what sort of Brexit deal they will fight for in the upcoming negotiations. "What does Brexit mean?" they cried. Now, [...]
Prime Minister Theresa May still has faith in Attorney General Jeremy Wright November 3, 2016 Prime Minister Theresa May still has faith in the Attorney General despite losing the Article 50 case today, a spokeswoman for Number 10 has confirmed. Asked if May retained confidence in Jeremy Wright, they confirmed the Prime Minister's support. Wright was among government's legal team, defending an argument brought by a number of parties that it could not [...]
No Delays! Downing Street is confident it can activate Article 50 by March, despite today’s high court ruling November 3, 2016 Downing Street is sticking to plans to activate Article 50 early next year despite this morning's high court ruling. Today a high court judge ruled that Prime Minister Theresa May needed the approval of parliament to begin the process of quitting the European Union. Despite the setback, Theresa May remains confident there will be no delays. [...]
How Westminster reacted to the High Court’s Article 50 ruling November 3, 2016 A High Court judgement that MPs must vote on Brexit before Article 50 can be triggered has caused quite the stir. Not least among currency traders, with the pound breaking the $1.24 mark for the first time in weeks. Read more: The odds on another EU referendum have halved The government said: "The country voted [...]
The odds of a second EU referendum have halved after the Article 50 ruling on Brexit November 3, 2016 Bookmakers Paddy Power have halved the odds of a second EU referendum taking place before 2019 after the High Court ruling on Brexit this morning. The odds have been reduced from 10/1 to 5/1 this morning. Ladbrokes have also cut the odds of when the next general election. The latest figures show 2/1 odds of [...]
Best Twitter reactions to the news that triggering Article 50 will require a parliamentary vote November 3, 2016 Today the High Court ruled that the government could not trigger Article 50 without MPs having a vote in parliament. Theresa May had maintained that the government could use a royal prerogative to trigger the two years of talks. The government will now challenge the decision in the Supreme Court. The case was brought in [...]