Summary

  • May speaks about Brexit at Davos

  • Says UK to lead world on free trade

  • Audience is mainly business leaders

  • IMF's Lagarde warns UK of Brexit pain

  • UK to trigger EU exit talks by April

  1. Watch: Carwyn Jones says 'don't impair Welsh firms'published at 15:15 Greenwich Mean Time 17 January 2017

    Wales' first minister Carwyn Jones vows to continue pushing for "full and unfettered" access to the EU single market.

  2. Watch: Free movement 'unacceptable to UK'published at 15:14 Greenwich Mean Time 17 January 2017

    Free movement of people from across Europe "is something the British people won't accept and can't accept", says Welsh Secretary Alun Cairns.

  3. First of the front pagespublished at 15:05 Greenwich Mean Time 17 January 2017

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  4. 'A bad deal is worse than no deal' - Davispublished at 15:04 Greenwich Mean Time 17 January 2017

    Brexit statement

    House of Commons
    Parliament

    Chuka Ummuna

    Former shadow business secretary, Labour's Chuka Umunna, says that the UK trading with the EU under World Trade Organisation (WTO) rules will be "vastly inferior" to our current arrangements.

    WTO trading rules would impose tariffs on goods such as 10% on cars, 13% on clothes, and up to 40% on agricultural produce, Mr Umunna tells MPs.

    He asks for David Davis to be "absolutely clear" that the prime minister's commitment to an interim arrangement rules out the government leaving the EU with no deal at all.

    Doing so and trading on WTO rules would be "very damaging" for jobs and businesses in this country, he says.

    Mr Davis says that a bad deal is worse than no deal, and tells MPs that if you walk into a negotiation with no other option "you won't do very well". 

    There continue to be a great many MPs rising to try to catch the Speaker's eye, and ask a question of Brexit Secretary David Davis.

  5. Johnson 'had big hand' in speechpublished at 15:03 Greenwich Mean Time 17 January 2017

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  6. Tusk: A more realistic announcementpublished at 14:53 Greenwich Mean Time 17 January 2017

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  7. Clegg: A kick in the teeth for young peoplepublished at 14:50 Greenwich Mean Time 17 January 2017

    Nick Clegg

    Former deputy prime minister Nick Clegg, now the Lib Dems' Europe spokesman, is not impressed.

    He says Theresa May has "turned her back on Margaret Thatcher's greatest economic achievement, the world's largest borderless single market", adding: "It’s an astonishing mutation from Conservative into UKIP-light."

    Quote Message

    The prime minister has pledged to act in the interests of the young and future generations. Yet she has now set herself on a course which emphatically rejects what the overwhelming majority of young voters said they wanted in the Brexit referendum. Claiming to represent the interests of the young whilst pursuing a hard Brexit which will damage their interests will only deepen the generational divide highlighted by the Brexit referendum. This speech is a kick in the teeth for the youth of Britain."

  8. Who's going to be the arbitrator in an agreement with the UK? asks Tory MPpublished at 14:50 Greenwich Mean Time 17 January 2017

    Brexit statement

    House of Commons
    Parliament

    Ken Clarke

    Veteran europhile Conservative MP Ken Clarke says that it is his understanding that negotiations on free trade agreements and customs unions between countries mean that both parties agree to be bound by sets of rules that neither will change.

    Any arrangement agrees to submit to some means of resolution of disputes and arbitration, he says.

    "What I don't understand", says Mr Clarke, is which country in the world is going to enter into a trade agreement with the UK where the rules are "entirely what the British say they will be on any particular day" and if there is any dispute about the rules it will be sorted out by the British government.

    Brexit Secretary David Davis responds that of course there will be disagreements but says these will be arbitrated by an organisation that is agreed between the UK and another country.

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  9. Environmental protections will be 'part of Great Repeal Bill' - Davispublished at 14:49 Greenwich Mean Time 17 January 2017

    Brexit statement

    House of Commons
    Parliament

    Caroline Lucas

    Green MP Caroline Lucas says that the government is threatening to turn the UK into a corporate tax haven "floating off on the edge of Europe" - and warns that this is not what people voted for in the referendum. 

    "Nor did they vote to wreck our environmental protections," she says. 

    She calls for a new environmental protection act so that vital safeguards of nature are not quietly dropped or bargained away in a rush to conclude new trade deals, as the UK leaves the European Union.

    Mr Davis tells the House of Commons that the proposed Great Repeal Bill, which will come before MPs as Britain prepares to leave, aims to incorporate all existing environmental protections into UK law, and that anything thereafter will be for the UK Parliament to decide - "something that hasn't been true for about 40 years", he says.

  10. CBI: PM has 'changed the landscape'published at 14:48 Greenwich Mean Time 17 January 2017

    Here is what CBI director general Carolyn Fairbairn made of Theresa May's speech:

    Quote Message

    Today the prime minister changed the landscape. Ruling out membership of the single market has reduced options for maintaining a barrier-free trading relationship between the UK and the EU. But businesses will welcome the greater clarity and the ambition to create a more prosperous, open and global Britain, with the freest possible trade between the UK and the EU. The pressure is now on to deliver these objectives and achieve a smooth and orderly exit. Businesses want to make a success of Brexit but will be concerned about falling back on damaging WTO rules. They stand ready to support the negotiations to get the best possible deal for the UK by ensuring that the economic case is heard loud and clear.”

  11. Watch: Tim Farron on a 'theft of democracy'published at 14:48 Greenwich Mean Time 17 January 2017

    The PM's speech was about an "extreme version of Brexit" says the Liberal Democrat leader.

  12. Press in central Europe warn against ultimatumspublished at 14:39 Greenwich Mean Time 17 January 2017

    BBC Monitoring
    News from around the globe

    "Brexit: a complete rupture has come closer," warns Hungarian financial news website Napi.hu.

    "The British government is making no effort to ensure that Britain will remain in the single European market, but is trying to achieve the fullest possible access to it in the Brexit negotiations… This could be regarded by the EU member states as an ultimatum and brings closer the possibility of Scotland's secession from Britain."  

    "May warns the EU against 'punitive' reaction regarding Britain," says Polish news portal Fakty Interia.

    Still in Poland - which has been one of the main sources of migrant labour in the UK - TVN24 channel focuses on Theresa May's pledge to bring migration from the EU under control.

    "'We want to control migration," the paper quotes the UK leader as saying.

    In Croatia - the youngest member of the bloc, a comment posted on the popular Index.hr portal warns that "Britons are going to regret their decision once goods from the EU become subject to taxation and selling anything on the EU market becomes difficult." 

    In Serbia - another country in the region aspiring to join the bloc - Politika newspaper notes that Mrs May "has yielded to pressure," promising that the parliament will get to vote on the final Brexit deal. 

  13. Brexit pound movements shown in chartspublished at 14:36 Greenwich Mean Time 17 January 2017

    This chart shows how the pound moved in the build-up to the PM's speech, including a rise when she confirmed Parliament would be given a vote on the final Brexit deal:

    Pound chart

    And this one puts those movements in the context of the movements since the referendum in June:

    Pounds movements since June
  14. Trade deals should be 'ready to go' - Labour Leave campaignerpublished at 14:34 Greenwich Mean Time 17 January 2017

    Brexit statement

    House of Commons
    Parliament

    Kate Hoey

    Prominent Labour Leave campaigner Kate Hoey says the prime minister's speech gave certainty to millions of Labour voters who voted to leave the EU.

    She asks the government to assure MPs that negotiations about trade deals with other countries will continue, so we are "ready to go" when we leave the EU.

    Mr Davis responds that the UK is currently constrained by "the duty of sincere cooperation" which requires the UK to not do things that will jeopardise the actions of the EU, such as interfering with trade deals the EU is making.

    He goes on to say to the Commons that he has a "strong suspicion" that the government will have lots of things to sign "that very next day" after leaving the EU. 

  15. Brexit is about sovereignty, not immigration - Davispublished at 14:32 Greenwich Mean Time 17 January 2017

    Brexit statement

    House of Commons
    Parliament

    Labour's Pat McFadden says that the prime minister's speech, outlining the plan for the UK's exit from the EU, is "a result of what you get when you allow immigration policy to dictate economic policy" - instead of considering them together.

    Mr McFadden tells MPs that the government set out a plan to leave the EU but had no plan to retain access to the single market.

    He asks: what was the assessment of the impact of the speech on jobs, trade and prosperity in the UK?

    Mr Davis says that the referendum campaign was not principally about immigration, but rather was about control of the country. 

    He assures the House that the economic future of the country, the country's security and its sovereignty were all "squarely in our sights".

  16. Government will not 'rip up workers' rights', Davis insistspublished at 14:31 Greenwich Mean Time 17 January 2017

    Brexit statement

    House of Commons
    Parliament

    Yvette Cooper

    Labour MP Yvette Cooper calls for an assurance that the government will not "rip up workers' rights as soon as the negotiations get difficult".

    Brexit Secretary David Davis tells her: "There is no circumstance under which we will rip up workers' rights."

  17. UKIP MP calls for 'bilateral' security treatiespublished at 14:31 Greenwich Mean Time 17 January 2017

    Brexit statement

    House of Commons
    Parliament

    UKIP's Douglas Carswell says that security arrangements with the EU should be decided by "bilateral treaties" and not supernational agreements "in which the UK is a supplicant".

    "We're not the supplicant in this negotiation," says Brexit Secretary David Davis, arguing that the UK is crucial to the defence of Europe.

  18. Government will 'abide by the instruction' of the people - Davispublished at 14:31 Greenwich Mean Time 17 January 2017

    Brexit statement

    House of Commons
    Parliament

    David Davis answering

    Former Labour leader Ed Miliband says the prime minister has indicated it will "take more than two years to have a trade deal with the EU ready to go" and asks what arrangements will be in place straight after the UK leaves.

    Former shadow foreign secretary Hilary Benn, who now chairs the Commons' Exiting the EU Committee, says the PM wants "continuation of tariff-free and barrier-free trade".

    He asks about customs union membership - but Brexit Secretary David Davis says the government will "abide by the instruction" of the people in the referendum to leave the EU.

    Single market membership is incompatible with that, he tells MPs.

  19. Sturgeon warns of 'catastrophic' Brexitpublished at 14:30 Greenwich Mean Time 17 January 2017

    Theresa May and Nicola Sturgeon

    Scottish First Minister Nicola Sturgeon says the direction set out in Theresa May's speech is "not in our national interests".

    She added:

    Quote Message

    For all her warm words, it is now clear that the UK is heading for a hard Brexit, which threatens to be economically catastrophic. Decisions are being driven not by the rational best interests of the country, but by the obsessions of the hard-right of the Tory party. It is also becoming clear that a more fundamental issue is emerging – not just whether the UK is in or out of the EU, but what kind of country it is going to be. The prime minister gave the game away towards the end of her speech when she talked of the potential for the UK to become a low wage, low tax, deregulated economy. That would see a race to the bottom replace our membership of the single market and everyone – perhaps apart from the very wealthiest – would be worse off as a result."

  20. Watch: Key points from PM's Brexit speechpublished at 14:24 Greenwich Mean Time 17 January 2017