Single market exit warning by ministerpublished at 15:04 British Summer Time 3 October 2016
UK membership of the European Union's tariff-free single market is "probably unlikely", a Welsh MP and Brexit minister says.
Read MoreSummary
Theresa May delivers closing speech to Conservative conference
She pledges to build a "fairer" and "united Britain"
Diane James resigns as UKIP leader after 18 days as leader
Nigel Farage returns to role as UKIP's interim leader
Home Secretary defends tougher immigration rules for businesses
Single market exit warning by ministerpublished at 15:04 British Summer Time 3 October 2016
Conference afternoon session begins shortlypublished at 14:41 British Summer Time 3 October 2016
The afternoon session at the Conservative conference gets under way shortly, with a panel discussion on the Rio Olympics.
Culture Secretary Karen Bradley, Environment Secretary Andrea Leadsom and International Trade Secretary Liam Fox are due to speak later.
Listen: The consequences of ditching surplus targetpublished at 14:40 British Summer Time 3 October 2016
The World at One
BBC Radio 4A target to abolish the deficit by 2020 has been ditched by the Chancellor Philip Hammond, who says times have changed because of the Brexit vote.Carl Emmerson, from the Institute For Fiscal Studies, tells the World at One what the consequences could be.
Brexit debate: Jenkin v Grievepublished at 14:39 British Summer Time 3 October 2016
Looking at the UK's future relations with the EU after Theresa May said she would start the formal two-year process for leaving by March 2017, Daily Politics presenter Andrew Neil heard reaction from two Conservative MPs.
Bernard Jenkin campaigned for Brexit while Dominic Grieve backed Remain and now supports the Open Britain campaign group.
Hammond 'borrowing from Labour to invest in his own speech'published at 14:37 British Summer Time 3 October 2016
Image source, ReutersMore reaction from Labour to Philip Hammond's speech.
John McDonnell said he welcomed the chancellor "abandoning George Osborne’s fiscal approach, justifying Labour's approach in opposing it".
The shadow chancellor added: "This morning Philip Hammond may have performed a u-turn on investment spending, admitting that the failed 'long-term economic plan' never really existed, but he still intends to go ahead with cuts to in-work benefits, and local authority funding.
"Labour is now the only national party with a fiscal framework that supports patient long-term investment in our economy, and it's clear that Phillip Hammond is now borrowing from Labour to invest in his own speech.
Quote MessageAs well as abandoning their own fiscal charter this was full of the same empty promises George Osborne made, only with worse gags."
Watch: What's the Conservative record on wages and GDP?published at 14:23 British Summer Time 3 October 2016
Treasury minister David Gauke claimed the "UK has been growing strongly under any measure you want to look at", but Daily Politics presenter Andrew Neil said real wages have been falling.
The chief secretary to the Treasury was being asked about his party's economic record in office, just after Chancellor Philip Hammond gave his speech to the Conservative Party conference.
Watch: Are the Tories really the workers' party?published at 14:22 British Summer Time 3 October 2016
Former universities minister David Willetts is asked by Andrew Neil about the Conservative rhetoric of being the workers' party, and its record on housebuilding.
The executive chair of the Resolution Foundation, a think tank which focuses on living standards, also spoke to the Daily Politics presenter about the building of private houses and council homes.
Government 'in disarray' over Brexit - McDonnellpublished at 14:21 British Summer Time 3 October 2016
BBC News Channel
Labour's John McDonnell says he is concerned that the government is "in disarray" over Brexit.
The shadow chancellor says that the government should have "certain red lines" in any negotiations on leaving the EU, to protect employment rights and the UK's financial services.
A "hard Brexit" - a phrase which refers to the UK's potential exit from the EU's internal market - could have a "£40bn impact on our public finances", he tells the BBC News channel.
Conservative conference: Views on reducing borrowingpublished at 14:12 British Summer Time 3 October 2016
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End of twitter postWatch again: Chancellor Philip Hammond on UK economy and surpluspublished at 14:07 British Summer Time 3 October 2016
Media caption, The chancellor says the UK will "no longer target a surplus at the end of this Parliament"
Watch again: 'Time to get building' says Sajid Javidpublished at 14:06 British Summer Time 3 October 2016
Media caption, The UK "has not built enough homes" says Communities Secretary Sajid Javid.
Business leaders' group calls for 'economic plan' from chancellorpublished at 14:06 British Summer Time 3 October 2016
James Sproule, chief economist at the Institute of Directors, says he heard "positive mood music" in Philip Hammond's speech.
However, he calls on the chancellor to set out an economic plan before his Autumn Statement to Parliament in November, "that boosts confidence and sees business through the uncertainty of the Brexit negotiations".
He added: "Business is prepared to give the government some leeway on the deficit. After the referendum, most IoD members agreed with pushing back the target to run a budget surplus by the end of the Parliament."
Quote MessageThe biggest area missing from this speech was tax. At the Autumn Statement we hope the chancellor will take bold steps to simplify the tax system for small and medium sized companies, and give all business some clear guidance on what is, and what is not, tax avoidance. If companies know the UK has a straightforward tax system, with competitive rates, it will go a long way towards reassuring investors this will still be a great place to do business after Brexit."
Listen: Ex-minister warns against 'brutal severance'published at 14:06 British Summer Time 3 October 2016
The World at One
BBC Radio 4A former Conservative minister has said that "we should not set as an ambition to have the most brutal possible severance" from the EU.Nick Herbert, a prominent Remain campaigner who worked under Theresa May at the Home Office, told Martha Kearney "the referendum vote didn't un-invent" the fact that the EU is a principal trading partner with the UK.
Autumn Statement will set out detail of new 'fiscal framework' - Gaukepublished at 13:30 British Summer Time 3 October 2016
The World at One
BBC Radio 4Chief Secretary to the Treasury David Gauke says the government will set out details of its "fiscal framework" in the Autumn Statement on 23 November - saying it's right to inform Parliament first.
He says the new economic performance data is likely to show lower tax receipts and rather than "chasing after that loss" with further spending cuts or tax rises, the government will take "a pragmatic response".
Asked if that therefore means austerity will continue post 2020 if the Tories are re-elected, Mr Gauke says that whoever is in government has to keep control of day-to-day spending and deal with the public finances. He goes on to criticise Labour's plan to borrow £500bn,
Listen: What is May-ism?published at 13:29 British Summer Time 3 October 2016
The World at One
BBC Radio 4Does Theresa May have her own -ism yet and how much does it draw from the prime minister's political hero and Brummie liberal, Joseph Chamberlain?
Conservative MP George Freeman, who chairs the prime minister's policy board, told Martha Kearney how she differed from David Cameron.
CBI: More detail needed on government's long-term strategypublished at 13:16 British Summer Time 3 October 2016
Responding to Chancellor Philip Hammond's speech, CBI director general Carolyn Fairbairn said the government was right to adopt a "more flexible approach" to fiscal policy at the moment, but she said it was "essential" that public finances remained "sustainable".
She also said more detail was needed on the government's industrial strategy.
Quote MessageWith the clock now ticking on an EU exit, it’s good to see the government set out the right chapter headings on how to boost confidence in our economy. We must now hear more on how government will work with business to build an inclusive, long-term industrial strategy. The Autumn Statement must move us several steps on to drive future investment and innovation across the country."
Former minister welcomes government's house building planspublished at 13:15 British Summer Time 3 October 2016
Former Conservative universities minister David - now Lord - Willetts says housing costs are one of the biggest pressures on living standards for low-income people.
He says if more homes are built, housing costs should fall and people "will feel it as an improvement in their living standards", he argues.
Lord Willetts, now at the Resolution Foundation think tank, welcomes Communities and Local Government Secretary Sajid Javid's focus on building on more brownfield land.
He says of the government's plans: "It's going to be easier to build on public sector land, there's going to be more liberalisation of the planning regime so you can build in areas that have been hitherto retail."
Quote MessageSo I hope we will shift the focus to getting more built, not just helping people with the costs, by extra allowances and subsidies."
'No notification, no negotiation' - European Commission on Brexitpublished at 12:51 British Summer Time 3 October 2016
The European Commission has said it will "work constructively" with the UK once negotiations about the country's withdrawal from the EU begin, but there will be no talks until the formal process starts.
Responding to Prime Minister Theresa May's announcement on Sunday that the UK government will trigger the Article 50 process of exiting the bloc before the end of March next year, a spokesman for the European Commission said:
Quote MessageWhen it comes to Article 50 we will work constructively on the basis of a notification, not of a speech and until this letter of notification arrives there will be no negotiation."
Asked whether UK and EU officials might engage in preparatory work before Article 50 is activated the spokesman said: "I would prefer to stay with the principle that everybody knows: no notification, no negotiation."
Meet the EU's chief Brexit negotiatorpublished at 12:51 British Summer Time 3 October 2016
Michel Barnier, who has moved seamlessly between jobs in Paris and Brussels, is the EU's chief Brexit negotiator.
Read MoreBrexit 'is no independence day', warns Grievepublished at 12:51 British Summer Time 3 October 2016
Former Tory attorney general Dominic Grieve, Remain campaigner, says he's worried that there's an "element of fantasy" about Brexit, that "somehow suddenly there's a brave new world".
"There isn't," he adds. "There's a new world but it's a world of complex commercial relationships underpinned by new treaties, just as we had old treaties.
Quote MessageWhilst it's true the new treaties may no longer be regulated by the EU court of justice, so we escape some of the mechanisms of the EU, actually it's all going to be replaced by a new apparatus of international treaties just as our international relations commercially outside the EU are regulated at present."
But MP and Brexit supporter Bernard Jenkin argues that the UK can have "a much simpler and more straightforward relationship" with the EU, suggesting it could perhaps ape the kind of relationship the US and Canada have.
Dominic Grieve adds that for all the talk of Brexit being the UK's independence day "I myself have never quite seen it in that light".
