United Kingdom trade minister says European Union is pushing Britain to no-deal Brexit

08 August, 2018, 18:28 | Author: Eric Barnett
  • Mrs May and Dr Fox

-China trade tensions showed little sign of easing and investors factored in a greater chance of a no-deal Brexit.

The benchmark FTSE 100 was down 17 points or 0.22 percent at 7,642 in late opening deals after rallying 1.1 percent on Friday.

"If our message on "no deal" is becoming more credible and resonating with those we are negotiating with in Europe, then our negotiating hand is getting stronger every day and we shouldn't do anything to undermine that".

With half of business leaders questioned having not made preparations for a no deal, Maritime UK believes there is not enough time to prepare for crashing out of the EU.

The prime minister has said she plans to publish some 70 technical notes in August and September outlining contingency plans for different sectors in the event Britain tumbles out of the bloc without a deal.

Mr. Fox told the paper that he had not thought the likelihood of no-deal was higher than 50-50, but the risk had increased.

No. 10 insists the government remains confident it can get a good deal.

The government has been touting its plans for Brexit agreed at Chequers - the prime minister's country residence in Buckinghamshire - to the European Union and its leaders, including the French President Emanuel Macron, whom Theresa May met on Friday.

"It's up to the EU27 to determine whether they want the EU Commission's ideological purity to be maintained at the expense of their real economies", he warned.

Last week, Mrs May cut short her summer holiday to meet with French president Emmanuel Macron.

Meanwhile, former cabinet minister Priti Patel said Mrs May must ditch the Chequers plan, which would see a "common rulebook" for goods with the European Union - effectively tying the United Kingdom to terms set by Brussels.

THE EU'S chief negotiator has hit back at Liam Fox for accusing him of refusing to budge over Brexit.

Prior to this, the pound stumbled after foreign secretary Boris Johnson resigned on July 9th, increasing the possibility of a no-deal Brexit.



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