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Theresa May must amend her Chequers plan if the EU will not accept it avoid a chaotic no deal, MPs have warned 

Britain risks a ‘chaotic and damaging’ Brexit if there is no deal with the EU, MPs warn today.

Members of the Commons Brexit Select Committee say Theresa May must amend her Chequers plan if the EU will not accept them and cautions that a ‘no-deal’ outcome would ‘leave many businesses facing huge uncertainty’.

They urge the PM to consider staying in a customs union and the European Economic Area (EEA) as a potential fallback position.

But the report’s conclusions were rejected by several of the committee’s Eurosceptic members, including Tory MP Jacob Rees-Mogg.

Mr Rees-Mogg, chairman of the pro-Brexit European Research Group, said reverting to World Trade Organisation rules if there is no trade deal would not be as bad as the report suggests - and would present some considerable advantages.

Separately, the International Monetary Fund (IMF) also warned yesterday of the disastrous consequences for the British economy of a ‘no deal’ Brexit, including a potential recession.

The pound could plummet and the economy could go into reverse, IMF chief Christine Lagarde claimed.

She added that there could be severe disruption to trade, with air travel and movement of goods at risk.

Mrs Lagarde said: ‘Our assumption is it would have very dear economic consequences. It would be a shock to supply and it would inevitably have a series of consequences in terms of reduced growth going forward, increased deficit, most likely a depreciation of the currency.

‘It would, in reasonably short order, mean a reduction in the size of the UK economy.’

Christine Lagarde, International Monetary Fund (IMF) Managing Director, has warned that a no deal Brexit will shrink the UK economy

Labour MP Hilary Benn, chairman of the Brexit Select Committee, said with time running out for the UK to secure a withdrawal agreement with the EU, there were ‘significant problems yet to be resolved’.

He said the Irish border backstop was the main sticking point, and called on Ministers to ensure ‘the continuation of tariff and friction free trade which is so important to the future of our economy’.

He added: ‘If the Chequers Plan is not acceptable as a basis for that, then the Government will need to find a different approach urgently.’

The report warned that there might not be enough time to agree back up deals ‘to mitigate the worst effects’ before the UK leaves the EU at the end of March next year.

But Mr Rees-Mogg said it was wrong to say the only solution to the Northern Ireland problem was to stay in the customs union and single market.

‘I think Mrs May does need to change course but in the direction of a Canada style free trade deal,’ he said.

He said the same technological solutions reportedly being offered by the EU to manage customs and other checks between Northern Ireland and Great Britain could be used on the Northern Ireland border.

Number 10 has repeatedly ruled out staying in the EEA, which would keep Britain in the single market, warning it would mean continued free movement of migrants and was not true to the spirit of the referendum result.

The IMF predicted that Britain’s economy will grow by 1.5 per cent this year and next if Britain leaves the European Union with a deal, a slight improvement from its last forecast in July, when it predicted economic growth of 1.4 per cent in 2018.

Mrs Lagarde, 62, a former French minister, also claimed that Britain will be worse off outside the EU regardless of what deal is struck.

She said: ‘Let me be clear, compared with today’s smooth single market, all the likely Brexit scenarios will have costs for the economy and to a lesser extent as well for the EU.’ 

 

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https://hienalouca.com/2018/09/18/mps-urge-brexit-fallback-plan-to-avoid-no-deal-chaos-if/
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Theresa May must amend her Chequers plan if the EU will not accept it avoid a chaotic no deal, MPs have warned 

Britain risks a ‘chaotic and damaging’ Brexit if there is no deal with the EU, MPs warn today.
Members of the Commons Brexit Select Committee say Theresa May must amend her Cheq...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

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