US News Theresa May asks Treasury for Brexit analysis

03:05  03 july  2018
03:05  03 july  2018 Source:   news.sky.com

Treasury 'coordinating business attacks on Brexit'

  Treasury 'coordinating business attacks on Brexit' Brexiteers have accused Remainers in the cabinet of coordinating business attacks on Brexit in a bid to bounce the prime minister into a soft Brexit. Jacob Rees-Mogg, head of the eurosceptic European Reform Group of Tory MPs, told Sky News he believed Chancellor Philip Hammond was behind the sudden flurry of businesses speaking up on Brexit.It comes ahead of a crunch Chequers meeting of cabinet ministers next Friday to agree detailed plans on the UK's post-Brexit future.

Image: Theresa May and Jean-Claude Juncker, President of the European Commission. Prime Minister Theresa May has asked the Treasury and Bank of England to draw up analysis of the impact of any Brexit deal struck with the UK.

This week’s leak, to Buzzfeed News, revealed an analysis authorised by the Prime Minister, but described as “preliminary and partial” by ministers. British Prime Minister Theresa May delivers her keynote speech on Brexit at Lancaster House in London on 17 January 2017.

Theresa May and Jean-Claude Juncker © Getty Theresa May and Jean-Claude Juncker

Prime Minister Theresa May has asked the Treasury and Bank of England to draw up analysis of the impact of any Brexit deal struck with the UK.

The Commons Treasury select committee has also requested research from the Financial Conduct Authority on the potential impact of the withdrawal agreement and future framework.

Treasury Committee chairwoman Nicky Morgan said MPs should be "properly informed" before the promised parliamentary vote on the deal.

In a letter to Chancellor Philip Hammond, Mrs Morgan requested work on the economic impact of any Brexit deal, both short and long-term.

'This is the last call': EU warns UK time is running out to avoid a no-deal Brexit

  'This is the last call': EU warns UK time is running out to avoid a no-deal Brexit The European Union has told Theresa May that time is running out to secure a Brexit deal and warned that "the most difficult tasks" relating to negotiations "are still unresolved."Speaking at a press conference in Brussels on Friday afternoon, European Council president Donald Tusk echoed growing frustration among EU leaders at the lack of progress in Brexit negotiations and called on May's government to "lay the cards on the table.

Speech calling for a pause to full exit until 2021 described as ‘constructive’ by Michel Barnier, the bloc’s chief negotiator.

He told the BBC Theresa May had to "get a grip on both her ministers for Budget Responsibility, which provides independent analysis of the UK's public finances, because Treasury forecasts "had But in the Commons on Thursday, Mr Rees-Mogg asked Brexit minister Steve Baker to confirm

Education Secretary Nicky Morgan MP © Sky News Screen Grab Education Secretary Nicky Morgan MP

The long-term analysis would consider both the proposed deal and a "no deal" scenario, with each compared against a "status quo" of staying in the EU.

The requested short-term work would also include an assessment of the risks that "systems, infrastructure or personnel required to facilitate cross-border trade flows are not in place" - either in the UK or EU.

It would also examine the danger of the political process for negotiation and ratification over-running beyond the end of the implementation period in December 2020.

In her letter to Bank governor Mark Carney, Mrs Morgan suggested Parliament's decisions would have "implications for the Bank's pursuit of monetary and financial stability".

Dutch PM joins calls for 'urgent Brexit clarity'

  Dutch PM joins calls for 'urgent Brexit clarity' The Dutch prime minister has urged Theresa May to "urgently" clarify "every aspect" of the UK's future relationship with the EU. Mark Rutte made the comment following a working lunch with the British prime minister on Tuesday in The Hague.He said: "We urgently need clarity about every aspect of the future relationship between the EU and the UK." © Getty THE HAGUE, NETHERLANDS - JULY 03 : Dutch Prime Minister Mark Rutte (R) welcomes his British counterpart Theresa May (L) for a work lunch at the Catshuis, The Hague, Netherlands on July 3, 2018.

He told the BBC Theresa May had to "get a grip on both her ministers for Budget Responsibility, which provides independent analysis of the UK's public finances, because Treasury forecasts "had But in the Commons on Thursday, Mr Rees-Mogg asked Brexit minister Steve Baker to confirm

Image. Theresa May , Britain’s prime minister, speaking on Thursday. President Trump’s administration has sought to bolster Britain’s place in the world while offering its support for Brexit . Speaking to reporters on Thursday, Steven Mnuchin, the Treasury secretary, sought to reassure

British Prime Minister Theresa May speaks to the press before leaving the first day of a European Union leaders' summit focused on migration, Brexit and eurozone reforms in Brussels on June 29, 2018. - European Union leaders reached a crucial deal on steps to tackle migration during all-night talks on June 29 after resolving a bitter row with Italy's hardline new premier. (Photo by Ludovic MARIN / AFP)        (Photo credit should read LUDOVIC MARIN/AFP/Getty Images) © Getty British Prime Minister Theresa May speaks to the press before leaving the first day of a European Union leaders' summit focused on migration, Brexit and eurozone reforms in Brussels on June 29, 2018. - European Union leaders reached a crucial deal on steps to tackle migration during all-night talks on June 29 after resolving a bitter row with Italy's hardline new premier. (Photo by Ludovic MARIN / AFP) (Photo credit should read LUDOVIC MARIN/AFP/Getty Images)

Mrs Morgan said: "Parliament's vote on the withdrawal agreement and future relationship can only be meaningful if it is properly informed.

"The Chancellor has promised the committee that he will place the 'maximum amount of analysis in the public domain' on the economic and fiscal consequences of implementing the withdrawal agreement and future relationship, once it has been negotiated.

"I have written to him to set out the committee's expectations for what that analysis should contain.

Theresa May is warned not to revive plans for a controversial 'customs partnership' at this week's Brexit showdown

  Theresa May is warned not to revive plans for a controversial 'customs partnership' at this week's Brexit showdown Downing Street was tight-lipped yesterday about its plans for a 'third way' on future customs arrangements with the EU, which is designed to break months of Cabinet deadlock. But reports yesterday said Number 10 was planning to revive parts of the 'customs partnership', under which the UK continues to apply EU tariffs after Brexit. Related: Days from Brexit crunch meeting, UK's May calls for unity (Reuters) Your browser does not support this video require(["binding"], function (binding) { binding("wcVideoPlayer", "#video_player_590705f9-87da-4142-9c7c-1a012182e672").

The Brexit Minister has admitted misquoting a think tank head about suggestions that Treasury civil servants deliberately stacked reports in favour of keeping close links with the EU. Theresa May said she would not sack Brexit Minister Steve Baker.

Analysis . The European Union's chief negotiator urged Prime Minister Theresa May on Friday to come up with "workable" proposals for Brexit and overcome "huge and serious" differences to prevent Britain from crashing out of the bloc without a deal.

British Prime Minister Theresa May speaks to the press before leaving the first day of a European Union leaders' summit focused on migration, Brexit and eurozone reforms in Brussels on June 29, 2018. - European Union leaders reached a crucial deal on steps to tackle migration during all-night talks on June 29 after resolving a bitter row with Italy's hardline new premier. (Photo by Aris Oikonomou / AFP)        (Photo credit should read ARIS OIKONOMOU/AFP/Getty Images) © Getty British Prime Minister Theresa May speaks to the press before leaving the first day of a European Union leaders' summit focused on migration, Brexit and eurozone reforms in Brussels on June 29, 2018. - European Union leaders reached a crucial deal on steps to tackle migration during all-night talks on June 29 after resolving a bitter row with Italy's hardline new premier. (Photo by Aris Oikonomou / AFP) (Photo credit should read ARIS OIKONOMOU/AFP/Getty Images)

"I also expect the Bank of England and the Financial Conduct Authority to explain how Parliament's decision will affect their ability to meet their objectives, including financial stability and consumer protection.

"In the months ahead, the committee will press for robust and high-quality analysis on the consequences of Brexit for the economy and the public finances, so that Parliament's decisions can be based on the best possible evidence."

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Theresa May Hit By More Resignations As Tories Fight Against Her Brexit Plan .
Theresa May has been hit by more resignations as Tory MPs continue to protest against her Brexit plans. Mansfield MP Ben Bradley and Lewes MP Maria Caulfield have both quit as Vice-Chairs of the Conservative Party in opposition to the policy agreed at Chequers last Friday. Their resignations came just hours after Tory MP Andrew Bridgen went public with his call for a vote of no confidence in the Prime Minister, believing her plan does not live up to her promise that “Brexit means Brexit”.

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