Government will comply with the law, says Brexit secretary
Stephen Barclay, the UK Brexit secretary, was asked by the Brexit Committee this morning: if no agreement is sealed by Saturday, will the government send a letter seeking a later withdrawal date of January 31? writes Jim Pickard, the FT’s chief political correspondent.
This extension requirement is enshrined in law by the Benn Act designed by Hilary Benn, chair of the committee. Mr Barclay replied: “The government will comply with the law.”
Separately Mr Barclay was pressed by Labour MPs about the removal from the proposed political declaration of UK equivalence on various employment, consumer and environmental rights.
That could turn out to be a major issue if it deters Labour MPs from backing any new Johnson deal.
Mr Barclay told the MPs: “I don’t think there is any desire to have a deregulatory approach.”
‘Issues’ remain but pathway exists to possible deal, says Varadkar
“Many issues” need to be settled despite progress in the Brexit talks, Leo Varadkar said after he spoke by phone on Wednesday morning with Boris Johnson and the European Commission, writes Arthur Beesley in Dublin.
“There is a pathway to a possible deal but there are many issues that still need to be fully resolved, particularly around the consent mechanism and also some issue around customs and VAT,” Mr Varadkar said in a speech in Dublin.
I do think we are making progress and hopefully that can be done today
On the eve of the critical EU summit in Brussels, the Irish taoiseach raised the prospect of an additional one being called before the October 31 Brexit deadline to break the deadlock.
Although time is running short, I am confident that [Irish] objectives can be met.
Pound slips with all eyes on chances of a deal
The pound fell 0.3 per cent by late morning in London, as traders refined their expectations for a deal following a burst of optimism that has swept markets since the end of last week. Sterling has risen more than 3.5 per cent since Thursday morning.
It was 0.4 per cent lower against the euro at €1.1540 on a choppy day of trading, with markets reacting to every headline and leak coming out of London and the other EU capitals.
Questions over DUP support
Persuading Northern Ireland’s DUP to support any Brexit deal is emerging as a key domestic difficulty for Boris Johnson. Here is the latest from the FT’s political editor George Parker:
The DUP has described as “nonsense” reports that it is haggling with Boris Johnson over a big cash injection into Northern Ireland in exchange for the party’s support for the Brexit deal taking shape in Brussels.
However Mr Johnson has already announced a “New Deal for Northern Ireland” as part of any settlement “to support infrastructure projects, particularly with a cross-border focus”. The DUP has already secured over £1bn for NI as part of its “confidence and supply” deal with the Tories.
Nick Macpherson, the former permanent secretary of the Treasury, points out that all talks about Northern Ireland end up turning to cash.
Brexit talks going down to the wire
Welcome to the FT’s live coverage as UK and EU negotiators race to get a Brexit deal over the line in Brussels. Back in London, Boris Johnson is pushing to drum up political support for any agreement.
We will bring you the latest developments along with the political and market reaction right here.
