United Kingdom economy faces hit under Brexit deal says study

27 November, 2018, 11:46 | Author: Emmett Rice
  • Britain's Prime Minister Theresa May leaves Downing Street London Britain Nov 26 2018

Irish border: The deal commits the two sides to a "backstop" solution to guarantee the border between European Union member Ireland and the United Kingdom's Northern Ireland remains free of customs posts or other obstacles.

Lawmakers on both sides of the aisle hate the deal including many in her Conservative Party who have publicly voiced their stance against it.

John Bercow was under fire last night after allowing a string of Theresa May critics to have the first go at savaging her Brexit deal in the Commons.

Trump indicated he wanted the PM to take another look at the deal.

"It will be a deal that is in our national interest - one that works for our whole country and all of our people, whether you voted "Leave" or 'Remain, '" she said.

The European Commission chief warned the United Kingdom parliament it should not count on any renegotiation ahead of Britain's departure in March, as European Union leaders on Sunday approved a landmark agreement on Britain's exit.

The report entitled The Economic Effects of the Government's proposed Brexit Deal, sent to Yahoo Finance UK ahead of its launch at 12pm local time today, was commissioned by the People's Vote, which are campaigning for a second referendum on whether the UK should leave the EU.

Spain will revive its bid for shared sovereignty over Gibraltar once Britain has left the European Union, the country's prime minister said on Sunday, adding Madrid had the support of the bloc to resolve the 300-year-old dispute.

And a senior Labour lawmaker Tony Lloyd said there was a "coalition of the willing" in the Parliament ready to reject May's deal and support a softer Brexit.

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This position was backed by Dutch Prime Minister Mark Rutte.

"I think we managed to make a diplomatic piece of art", she said.

The prime minister will also meet with the five main political parties, to urge them to get behind the deal - which has received support from major employers and trade associations concerned about the implications of crashing out of the European Union without any deal. There will be common customs arrangements to provide tariff-free trade, and the two sides commit to "build and improve on" the temporary single customs territory set out in the withdrawal agreement.

His remarks, which Sky News shared a video of on Twitter, are likely to inflame Eurosceptic backbench Tory MPs' attitudes towards May, and make it even harder for her to get her proposed deal through Parliament.

According to the British press, as many as 90 lawmakers of May's own Conservative Party have said they plan to vote against it, alongside members of the opposition Labour Party.

"It is the result of a miserable failure of negotiation that leaves us with the worst of all worlds", he said.

Johnson, writing in the UK's Daily Telegraph, said that the best possible pathway away from the current deal is to "bank what is sensible" in the withdrawal agreement and "chuck" the rest.

"My focus for the next few weeks is making this deal possible", she said. But according to the National Institute of Economic and Social Research (NIESR), her agreement with the bloc will leave the United Kingdom £100bn ($128.3bn) worse off by 2030.


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    But by early evening, the picture grew more complex, as the incoming Mexican government said there was "no agreement of any sort". One variation, called "Safe Third", would have denied asylum claims on the grounds that asylum seekers had found haven in Mexico.
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