- Monday, 28 August 2017
- News
UK opposition Labour backs soft Brexit, putting pressure on May
The opposition Labour Party has said it would keep Britain in the European single market and customs union for a transitional period after Brexit, offering an alternative to the government line after months of uncertainty over Labour’s position. The party would seek to maintain the “same basic terms” with the European Union, including the free movement of people, beyond March 2019 when Britain is set to leave the bloc, Labour’s Brexit spokesman Keir Starmer said. Read more...
- Wednesday, 23 August 2017
- News
The U.K. economy may be even in worse shape than it looks
That’s the message from UBS AG, which says it’s headed for near-stagnation. Economists led by Pierre Lafourcade at Switzerland’s largest bank said their new model strips out volatility in data to show growth has “softened substantially since the beginning of the year” and is headed “close to zero in the near future.” While Purchasing Managers Indexes plunged immediately following the result of the Brexit referendum in June 2016 but then recovered, the UBS economists say their hard-data indicator has turned down more recently.
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- Monday, 21 August 2017
- News
Brexit: UK publishes more EU negotiation plans
The UK government has set out proposals to ensure trade in goods and services can continue on the day the UK leaves the EU in March 2019. A position paper calls for goods already on the market to be allowed to remain on sale in the UK and EU without additional restrictions. It also calls for consumer protections to remain in place.
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- Monday, 14 August 2017
- News
Sterling lower in a quite Monday session
There were no significant UK data releases during the day, but there were reports that pro-EU MPs were looking at ways to block a ‘hard’ Brexit. Given the weak government position, a cross-party effort to block the government stance could be effective. In a joint statement over the weekend Chancellor Hammond and Trade Minister Fox stated that transition arrangements would not be a back door to stating in the EU and that the period would be time limited. Read more...
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