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Tag: Brexit

Bank of England weighs into election with Brexit deal forecast

Bank of England weighs into election with Brexit deal forecast

Business
The Bank of England has risked accusations of intervening in the election campaign as it published its first formal forecast of the impact of Boris Johnson's Brexit deal.In its Monetary Policy Report, the Bank forecast that during the course of the next three years the Conservative government's deal could leave the economy slightly weaker than it previously forecast. However, the Bank added that there would be a near-term boost as uncertainty lifted and companies and households invested more.The Bank had previously stopped short of incorporating Theresa May's deal into its economic forecasts, choosing instead to forecast on the basis of a range of probabilities over a Brexit deal.But on Thursday it said it was now forecasting on the basis of Mr Johnson's recently-negotiated deal with Bruss...
Brexit bill ‘in limbo’ as MPs reject timetable

Brexit bill ‘in limbo’ as MPs reject timetable

World
Media playback is unsupported on your device Boris Johnson has hit the pause button on his Brexit legislation after MPs rejected his plan to get it through the Commons in three days.MPs backed his Withdrawal Agreement Bill - but minutes later voted against the timetable, leaving it "in limbo".After the vote, EU Council President Donald Tusk said he would recommend EU leaders backed an extension to the 31 October Brexit deadline.But a No 10 source said if a delay was granted, the PM would seek an election.On Saturday, Mr Johnson complied with a law demanding he write to the EU to ask for a three-month extension, but did not sign the letter.Following the result in the Commons, he said it was Parliament and not the government that had requested an extension.M...
Brexit deal acceptable, says top Barclays banker

Brexit deal acceptable, says top Barclays banker

Business
Prime Minister Boris Johnson's Brexit deal is "acceptable" and the country should push ahead with it, leading banker Sir Ian Cheshire has said.Sir Ian, chairman of Barclays' UK operations, told the BBC that business leaders wanted to see certainty.He added that it was "extremely unlikely" further negotiations with the EU would produce a different outcome.However, some UK business groups were more sceptical, with one calling it "a step backwards for frictionless trade".Confidence sufferingSpeaking to the BBC's Today programme, Sir Ian said: "No deal is perfect, but this deal is actually doable,"It is, I think, very frustrating to see what appears to be a protracted process when most business leaders would like to see some certainty and get on."The chances ...
Aerospace industry seeks Brexit reassurance

Aerospace industry seeks Brexit reassurance

Business
There is growing concern among key aerospace manufacturers about regulatory alignment and the ability to bring products to market after Brexit.The firms have sought reassurance that the UK would continue to be a member of the European Aviation Safety Agency after any Brexit deal.They also warned that alignment with chemicals regulations is "vital" for the sector.The government said it would pursue agreements where necessary.The government is facing a backlash from key manufacturers amid growing industrial concern that Boris Johnson's Brexit negotiators have dropped existing commitments to participate in specific EU regulatory institutions after any Brexit deal.BBC News has obtained a letter from the aerospace industry body, the ADS, to the government aski...