United Kingdom confident of Brexit financial services deal soon

05 November, 2018, 23:20 | Author: Bert Pena
  • United Kingdom confident of Brexit financial services deal soon

The publication states that the arrangement will will also include an "exit clause" that will aim at convincing Brexiteers that remaining in the customs union is only temporary.

He said there was a "rapidly ticking clock" but that minds were now being focused with a view to concluding a deal and he welcomed that.

The Sunday Times reports that the prime minister is close to a political deal on the United Kingdom and EU's so-called future economic partnership, which the newspaper says will "allow Britain to keep open the prospect of a free trade deal resembling that enjoyed by Canada".

May's spokesman refused to confirm the report, calling it "speculation", according to Sky News.

"The Democratic Unionist Party is rightly anxious about the future of the Union and many Conservatives are too".

A senior EU source said the United Kingdom prime minister would need determine whether she could sell an open-ended customs union to her party, but the calculation in Brussels was that it would be acceptable to the House of Commons as a whole. "Negotiations are ongoing", a statement read.

Brexit talks have been deadlocked over the so-called backstop - the fallback position that would be activated if a future EU-UK trade deal does not produce a solution that would prevent a hard border between Ireland and Northern Ireland.

Mr Johnson dismissed suggestions that the arrangement would lead the way to a Canada-style trade deal, arguing that the joint UK/EU political declaration on the future relationship due to be released alongside the withdrawal agreement will be "worthless".

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"Negotiations are still very firmly continuing, and therefore we are 95% of the way there in relation to the Withdrawal Agreement. That is why we are increasingly positive on the expectation of reaching a deal".

Following a phone conversation with Mrs May on Monday morning, the Taoiseach said both leaders emphasised their commitment to avoiding a hard border in Ireland and the need for a legally operable backstop.

The key sticking point remains how to avoid customs checks taking place at the border between Northern Ireland and the Irish Republic, without putting up new barriers between Northern Ireland and the British mainland.

"While we too hope the Northern Ireland backstop will never be required to be used, it will be required to be written down in legal text".

He said that an all-UK customs union would not breach the EU's red lines.

Waterstones chief executive James Daunt, ex-Sainsbury's chief executive Justin King, Lastminute.com founder Baroness Lane-Fox and Innocent Drinks co-founder Richard Reed were among signatories of a letter calling for a People's Vote on leaving the European Union.

"If the long term is that we are simply going to be continuing this argument long after we've left the European Union on March 29 next year as to what our future relationship with it is going to be, then, quite frankly, it would be better to have that argument now and let the public decide what they want and if they are content with the arrangements the government has come up with".

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