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United Kingdom 'closing in' on Brexit deal with Brussels, suggests Raab

15 September, 2018, 19:18 | Author: Ted Wilson
  • Mobile phones

Britain is keen to remain part of Galileo after Brexit if a deal can be agreed but the European Union is insisting full membership of the programme is only open to member states.

Traders say many investors are reluctant to take out big directional bets on sterling because of the uncertainty about where the Brexit negotiations are headed.

Brexit-supporting lawmakers in Prime Minister Theresa May's Conservative Party publicly pledged support for her on Wednesday after media reports of a plot to oust her by rebels unhappy with her proposals for exiting the EU.

In his column for the Telegraph, Mr Raab said the technical papers would include plans for "protecting consumers from mobile phone roaming charges".

Raab says he remains confident a deal will be reached.

Bank of England Governor Mark Carney told the meeting Britain's property market would crash and mortgage rates would spiral up in the event of a chaotic no-deal Brexit, with house prices falling 35% over three years, the Times newspaper reported.

He said the government was stepping up its contingency planning.

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"If there is no deal with the European Union, you may need to obtain an International Driving Permit to drive in the European Union", it said.

He repeated calls for the United Kingdom to remain part of the single market and customs union, adding: "A "no-deal" Brexit should be unthinkable, which is why it should be ruled out, if necessary by extending the Article 50 process".

Britain and the EU both say there must be no customs posts or other infrastructure along the now invisible frontier, but they have not agreed on how that can happen once the United Kingdom leaves the bloc's tariff-free customs union.

"We have coughed up £10bn net to pay for nice roads, and public services, and teachers all around Europe, and they really, really need that money, so we have a bargaining chip".

"In the event of a no-deal scenario, which is not what we want, we would face short-term risks and short-term disruption", he said.

Yet there is a long way to go until Dominic Raab, or anyone in government, can be sure. "If that doesn't happen, the United Kingdom will manage the challenges of no deal, so we make a success of Brexit".

The UK will also no longer be part of the Copernicus program, a EU-based earth observation initiative that's a critical asset to national security as it contributes to maritime surveillance, border control and understanding climate change.

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