‘The UK is headed towards a cliff edge’ – two experts on the economic outlook

David Blanchflower Professor of economics at Dartmouth College in the US and member of the Bank of England’s monetary policy committee (MPC) from 2006-09 Uncertainty rules the waves, not only on who the next prime minister will be but also who will be the next chancellor and the next governor of the Bank of England. Mark Carney is done early […]

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Tory Rivals Plot to Stop Boris Johnson From Winning Power in U.K.

In this article Follow @Brexit, sign up to our Brexit Bulletin, and tell us your Brexit story.  Rivals to be Britain’s next prime minister are holding private talks over joining forces in an attempt to stop the pro-Brexit favorite, Boris Johnson, running away with the contest, people familiar with the matter said. Two of the candidates who are struggling for support […]

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No-deal Brexit will be ‘commercial suicide’, manufacturers tell MPs

A no-deal Brexit will be “commercial suicide” with tens of thousands of jobs already lost in the UK because of the political uncertainty, manufacturing representatives have said. As Boris Johnson broke cover to launch his Conservative party leadership campaign, in which he repeated his pledge to leave the EU by 31 October, industry representatives were telling MPs that crashing out […]

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UK manufacturing sector ‘far larger than politicians realise’

Britain’s manufacturing sector is much larger than official figures suggest, according to a report for the government that underscores the broad impact on the economy of high tariff barriers with the EU. The report argues that official statistics, which estimate that manufacturing output accounts for 9% of national income, are based on “outdated and inaccurate methods of counting” and the […]

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Labour pips Brexit Party to win Peterborough by-election

Labour has narrowly won the Peterborough by-election, denying Nigel Farage’s Brexit Party a first seat in parliament. Unite activist Lisa Forbes won the seat with 10,484 votes, ahead of the Brexit Party’s Mike Greene, who had 9,801 votes. Conservative candidate Paul Bristow finished third with 7,243 votes, with the Liberal Democrats fourth and the Greens in fifth. It is a […]

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Brexit Party leads, UK Conservatives fear wipeout in EU poll

Brexit Party leader Nigel Farage smiles as he arrives at the counting center for the European Elections for the South East England region, in Southampton, England, Sunday, May 26, 2019. (AP Photo/Alastair Grant) The first official British results in the European Parliament bear out predictions of victory for the Brexit Party led by anti-EU figurehead Nigel Farage and a big […]

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Brexit Bulletin: Fireworks Ahead

Today in Brexit: Theresa May faces her fractious Cabinet, but might find it harder than ever to keep them on side. What’s Happening? Theresa May meets her Cabinet today as she tries to get them behind her final push to get a Brexit deal over the line. There could be fireworks. The prime minister is considering proposing tighter customs ties with the European […]

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Brexit: Sir Vince Cable could make it Lib Dem policy to revoke Article 50

Liberal Democrat leader Sir Vince Cable has said changing his party’s policy from demanding a second referendum to outright revocation of Article 50 is “tempting” and could happen by the autumn.  In an exclusive interview with Sky News during a campaign visit to Gibraltar, Sir Vince said he believed a move to withdraw the UK’s formal request to leave the […]

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The UK government built a $146 billion war chest to stop a run on the pound in the case of a 'no-deal' Brexit, Bank of America says

The British government and the Bank of England built a $146 billion foreign currency reserve war chest to in the event of a no-deal Brexit, Bank of America said. The stash “suggests the UK government was piling up FX reserves on the chance the UK would leave the EU without a deal and thus creating a run on the pound […]

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