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. Poll on single market access vs immigration controlpublished at 17:13 Greenwich Mean Time 19 January 2017

    Ipsos MORI's first Political Monitor of 2017, suggests 44% of people believe Britain should prioritise having access to the European single market, while 42% think the priority should be controlling immigration.

    In October 45% believed Britain should prioritise single market access, compared with 39% who wanted controlling immigration prioritised.

    Gideon Skinner, Ipsos Mori's head of political research, said:

    Quote Message

    Theresa May has called for the country to come together after Brexit, but the divisions on single market access vs immigration control show no signs of going away."

    Ipsos MORI interviewed a representative sample of 1,132 adults aged 18+ across Great Britain. Interviews were conducted by telephone 13-16 January. Data has been weighted to the profile of the population.

  2. UK intentions over Brexit 'clearer' - ex-European Parliament presidentpublished at 17:08 Greenwich Mean Time 19 January 2017

    Former European Parliament president tweets...

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  3. Nigel Farage prepares for Donald Trump inaugurationpublished at 17:07 Greenwich Mean Time 19 January 2017

    Former UKIP leader tweets...

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  4. Greens: Jeremy Corbyn decision to back Article 50 'astonishing'published at 16:51 Greenwich Mean Time 19 January 2017

    Caroline Lucas

    Caroline Lucas, co-leader of the Green Party of England and Wales, claims Jeremy Corbyn is wrong to force Labour MPs to vote to trigger Article 50 to leave the EU.

    The MP for Brighton Pavilion said: 

    Quote Message

    Jeremy Corbyn is now trying to deny Labour MPs the chance to make their own principled choice on one of the most important decisions of the UK’s recent history. This isn’t about ignoring the result of the referendum, it’s about [Theresa] May interpreting a slim majority in favour of leaving as a mandate to sacrifice our economy on the altar of ending free movement.”

  5. Jeremy Corbyn: We will not block Article 50published at 16:44 Greenwich Mean Time 19 January 2017

    Jeremy Corbyn

    Jeremy Corbyn will order Labour MPs to vote in favour of starting the Brexit process if the prime minister is forced to seek the approval of Parliament to trigger Article 50.

    The Labour leader said he had made it "very clear" that his party accepts the decision made by the public in the referendum.

    Mr Corbyn's commitment to back Article 50 follows reports that members of the shadow cabinet were considering voting against allowing Theresa May to formally start the Brexit process.

    The Guardian reported that four shadow cabinet ministers and several junior frontbenchers were agonising about the prospect of backing the measure.

    But Mr Corbyn said:

    Quote Message

    It's very clear the referendum made a decision that Britain is to leave the European Union. It was not to destroy jobs and living standards or communities, but it was to leave the European Union and have a different relationship in the future. I have made it very clear that the Labour Party accepts and respects the decision of the British people. We will not block Article 50."

  6. Theresa May responds to Boris Johnson WW2 movie commentpublished at 16:44 Greenwich Mean Time 19 January 2017

    During the same interview with our economics editor Theresa May was asked about the row over Foreign Secretary Boris Johnson's warning to EU leaders against giving the UK "punishment beatings" for Brexit "in the manner of some World War Two movie".

    She said:

    Quote Message

    The point that Boris was making was that it's in the interests of the countries that remain in the EU and the UK to get a good trade deal that ensures we see the least possible disruption to our economies."

  7. Theresa May: Positive discussions with banks over Brexitpublished at 16:42 Greenwich Mean Time 19 January 2017

    Theresa May

    Theresa May says she's had "a good positive discussion" with the CEOs of banks and financial institutions following news that several lenders are preparing to shift thousands of jobs out of London after Brexit.

    Bosses of JP Morgan, HSBC and UBS have all confirmed Britain's decision to scrap single market access will have major implications for their UK operations. 

    Jamie Dimon, chief executive of US bank JP Morgan, who was set to meet Mrs May, told Bloomberg Television: "It looks like there will be more job movement than we hoped for."

    In an interview following her speech at the World Economic Forum in Davos, the UK prime minister told BBC Economics Editor Kamal Ahmed: 

    Quote Message

    I've had a very good positive discussion with banks about the benefits of the City of London... and how we can continue to build on that for the future. There are huge benefits for investment in the UK - we have a fundamentally very strong economy, we have a service sector that is valued around the world. I believe that a truly global Britain can bring jobs and prosperity to the UK across the board including in financial services."

  8. Watch: Is there optimism in UK politics?published at 16:20 Greenwich Mean Time 19 January 2017

    Media caption,

    Columnist Polly Toynbee and UKIP's Douglas Carswell on the fortunes of the left and right.

  9. European Central Bank keeps key interest rate on holdpublished at 16:19 Greenwich Mean Time 19 January 2017

    Mario DraghiImage source, Reuters
    Image caption,

    ECB president Mario Draghi has left interest rates alone

    The European Central Bank (ECB) has kept its main interest rate unchanged at zero for another month.

    The decision by the eurozone central bank's 25-member governing council to leave its benchmark borrowing rate on hold had been expected.

    It was also decided not to change the ECB's bond-buying stimulus scheme, which was extended last month amid worries about economic growth.

    ECB head Mario Draghi said the eurozone economy is stronger, but still fragile.

    Read more

  10. Nigel Farage urges UK to engage with far-right French politician Marine Le Penpublished at 15:38 Greenwich Mean Time 19 January 2017

    Nigel Farage

    Ministers are repeating the same mistakes they made before Donald Trump's election as United States' president by not engaging with French far-right politician Marine Le Pen, Nigel Farage has said.

    The former UKIP leader said it was "extraordinary" that the government was not reaching out to the Front National and Ms Le Pen. 

    Lord Llewellyn of Steep, Britain's ambassador to Paris, revealed last week that long-standing protocols mean UK officials shun the far-right party and its presidential candidate. 

    But Mr Farage said Ms Le Pen was "gaining momentum" ahead of the spring election, and told the government to make connections with her to avoid the embarrassment it faced when Mr Trump won the US presidential election.

    A string of ministers had heavily criticised and mocked Mr Trump during the campaign and are now attempting to make up lost ground ahead of Theresa May's spring visit to the US. 

    Writing for the Westmonster, external website set up by his former aide Michael Heaver and UKIP donor Arron Banks, Mr Farage said: 

    Quote Message

    I'm not saying that she will win [Marine Le Pen], but there is every chance she could, and I'm pretty certain that she will at least make it to the final round. It seems our government are not learning from their mistakes."

  11. Coming up: Question Time panel in Peterboroughpublished at 15:24 Greenwich Mean Time 19 January 2017

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  12. 'Difficult' talks on UK Brexit approachpublished at 15:20 Greenwich Mean Time 19 January 2017

    Scotland's Brexit minister Mike Russell says there is "great frustration building up" over the UK's handling of Brexit.

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  13. Watch: When Boris Johnson went into batpublished at 15:20 Greenwich Mean Time 19 January 2017

    Media caption,

    Boris Johnson took to the cricket nets in India. How do you think he did?

  14. Watch: 'Scotland is England's biggest export destination'published at 15:19 Greenwich Mean Time 19 January 2017

    The SNP's Joanna Cherry looks at future Scottish trade deals with the EU and UK.

  15. Chancellor: We're determined to protect the City during Brexit negotiationspublished at 15:19 Greenwich Mean Time 19 January 2017

    Philip Hammond

    At a lunch hosted by the CBI in Davos, Chancellor Philip Hammond warned against any attempt to "punish" the UK by trying to attract financial services companies away from the City of London to alternative European centres.

    It comes after HSBC boss Stuart Gulliver revealed his bank is on course to move 1,000 jobs from London to Paris after Prime Minister Theresa May confirmed the UK would be leaving the European single market. 

    Mr Hammond, who is in Switzerland, for the World Economic Forum in Davos, said the government was determined to protect the City.

    Quote Message

    London's financial services industry is a complex ecosystem that has grown up over decades. In my conversations with business leaders in the sector I am told repeatedly that it is this scale and depth that has generated such strength. Replicating this elsewhere in Europe in a short timescale is simply not feasible. Punishing the UK, by trying to fragment that ecosystem would only mean European businesses having to go to New York for some, at least, of the financial services they need. Any diminution of London's financial markets would be bad for businesses and consumers in Britain and in the EU. It would drive up costs. And it would act as a drag on the economy of this entire continent."

    Mr Hammond said he was "confident of getting a sensible Brexit deal" with the remaining 27 EU nations, but made clear Britain was ready to go down the route of a Singapore-style low-tax haven to attract business from the rest of the world if it was unable to negotiate access to European markets.

    "Maintaining Britain's competitiveness is not an optional extra. It's an existential necessity," he said.  

  16. Lord Ashdown draws comparison with 1930spublished at 15:18 Greenwich Mean Time 19 January 2017

    Populism debate

    House of Lords
    Parliament

    Lord Ashdown

    Lib Dem Lord Ashdown tells peers that he is "struck" by comparisons between our age and 1930s:

    "A surge of nationalism, free trade withering away, protectionism on the rise, vulgarity succeeding over decency, the ugly voices heard over the quiet voice of reason."

    "I don't say we are not to blame," he says - "we are" - but adds that the problem is not who to blame but what to do. 

    He asks why people's movements have to be "about the nasty, ugly things" and calls for a movement giving voice to the "decent moderate liberal centre".

  17. Populism is the 'symptom, not the disease'published at 15:18 Greenwich Mean Time 19 January 2017

    Populism debate

    House of Lords
    Parliament

    Conservative Lord Tugendhat argues that populism and nationalism are the symptoms, not the disease.

    The disease, he says, is that governments and parliaments have failed to take "sufficient account" of "legitimate public concerns".

    How much are we as individuals to blame? he asks.

  18. Debate on populism beginspublished at 15:18 Greenwich Mean Time 19 January 2017

    House of Lords
    Parliament

    Lord Bruce

    A slightly out-of-breath Lord Bruce arrives in the chamber in time to begin the debate entitled: challenges to the liberal international order posed by the development of populism and nationalism around the world.

    He begins by asking how did we get here and what can we do about it.

    He argues that loss of inequality and feelings of alienation have been exacerbated by "conspicuous consumption" of those at the top creating a "ferment" that was exploited by populist and nationalist movements. 

    He urges people "not to overreact" but nor to "just keep buggering on". 

    "We should not succumb to wreckers. We must stand up to them with a reassertion of liberal values."

  19. Conservative-led Surrey County Council plans 15% council tax hikepublished at 14:43 Greenwich Mean Time 19 January 2017

    County Hall, SurreyImage source, Google

    Away from Brexit... A Conservative-run council wants to raise its tax by 15% in the next financial year, blaming government cuts and increased demand for social care.

    Surrey County Council leader David Hodge said the government had cut its annual grant by £170m since 2010.

    The proposed increase would add nearly £200 to a Band D bill, bringing it to about £1,500.

    The government said if the proposed budget is set, taxpayers would have the final say at the following referendum.

    Any authority wanting to increase council tax by more than 2% must put the plans to a vote. This would take place on 4 May, alongside local elections, and would include a vote in Chancellor Philip Hammond's constituency of Runnymede and Weybridge.

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  20. 'Day-by-day' approval for UK financial access?published at 14:43 Greenwich Mean Time 19 January 2017

    The World at One
    BBC Radio 4

    Former M&S chairman, and former city minister under Labour, Lord Myners has been talking to the BBC about the prospect of the City of London losing banking and financial services jobs to other capitals ahead of Brexit and the possible need for the UK "at all times" having to "satisfy the EU that your regulation was at least as good as the EU".

    "This is a test that is carried on a daily basis, it would be open to the EU at any time to say 'we no longer regard your regulation as matching our test of equivalence'... it's rather like having a home where you are on a lease which renews every day  - you just wouldn't feel happy about that. You certainly wouldn't make long-term commitments."

    Read a full explanation of the financial 'passporting' system