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. Monday round-up: Trump, Brexit and Stormont electionspublished at 18:23 Greenwich Mean Time 16 January 2017

    It is Theresa May's long-awaited Brexit speech tomorrow so we will be keeping an eye for further developments later on Monday, with the papers sure to be anticipating what may or may not be included.

    But, in the meantime, here is a round-up of what we've learnt so far today.

    • US president-elect Donald Trump promises a quick trade deal between the US and the UK after he takes office on Friday
    • In an the interview with the Times, Mr Trump also criticises Nato and German Chancellor Angela Merkel's refugee and migration policies
    • The pound falls against major currencies ahead of the speech but the IMF upgrades the UK's growth forecast for 2017
    • Away from Brexit, Northern Ireland will go to the polls on 2 March to elect a new Assembly after the executive collapsed over a botched green energy scheme
    • Health Secretary Jeremy Hunt becomes one of the UK's richest politicians after selling Hotcourses, his privately owned business.  

  2. Trump interview quotes - and the reaction 3) Theresa May/UK visitpublished at 17:18 Greenwich Mean Time 16 January 2017

    "Well, I'll be there - we'll be there soon - I would say we'll be here for a little while but and it looks like she'll be here first. How is she doing over there, by the way?"

    Guardian political editor Heather Stewart writes, external: "Michael Gove's latest excursion into controversy, pipping the prime minister - and her Foreign Secretary, Boris Johnson - to a personal meeting with Donald Trump, is just the latest in a series of headaches created for May by the powerful figures she dispatched to the back benches."

    Theresa May's spokeswoman says: "We have already established good relations with the president-elect. The prime minister has spoken on the phone, her team has gone out there for discussions, the foreign secretary has had discussions." She adds: "If the British press succeeds in interviewing world leaders, we should be proud."

  3. Downing Street: UK will respect existing EU obligationspublished at 17:17 Greenwich Mean Time 16 January 2017

    No 10 says the UK will respect its existing obligations while it remains in the EU amid speculation that it could begin trade talks with other countries - a scenario which could potentially see the UK incur financial penalties.

    "I don’t think we are in that position," a spokesman said, adding that the UK would merely be in a position to "scope out" future opportunities.

    As to Theresa May's speech itself, Downing Street said the PM would set out the UK's plan for the Brexit negotiations, with an emphasis on enhancing Britain's future role in the world and maximising its global outlook.

  4. Sinn Fein: Stormont has 'zero credibility'published at 17:17 Greenwich Mean Time 16 January 2017

    Conor Murphy

    Sinn Fein has urged Secretary of State for Northern Ireland James Brokenshire to call a snap election after claiming the actions of the DUP mean the power-sharing institutions have "zero credibility".

    Addressing reporters, MLA Conor Murphy says his party will not co-operate in devolved government again unless there is "equality, respect" and an end to "corruption of these institutions and corruption within these institutions" - 

    He says the principles underpinning the Good Friday Agreement must be adhered to and the DUP must change its approach to governing. 

  5. 'No officials present' at cake memo meetingpublished at 17:17 Greenwich Mean Time 16 January 2017

    Tom Moseley
    Political reporter

    Downing Street will be hoping for more positive headlines after tomorrow's speech than those it received in November when notes including the phrase "cake and eat it" were photographed in Westminster.

    The government distanced itself from the notes, carried by an aide to MP Mark Field after a meeting at the Brexit department.

    But who had they been meeting and what was the cake reference? Responding to a Freedom of Information Act request, the Department for Exiting the European Union said it did not know, adding:

    Quote Message

    The meeting referred to was not a departmental meeting but an informal political one, and as such no officials were present and no note is held by the department."

  6. Watch: Is politics being commercialised?published at 17:16 Greenwich Mean Time 16 January 2017

    The Daily Politics

    A man with a marketing background will be in the White House later this week, and more companies seem to have recognised the commercial opportunities presented by politics.

    Daily Politics reporter Jenny Kumah flicks through some TV and printed adverts.

  7. Watch: Will UK and US agree quick post-Brexit trade deal?published at 16:52 Greenwich Mean Time 16 January 2017

    The Daily Politics

    Media caption,

    Labour's Mary Creagh and Conservative Dominic Raab discussed the issue on the Daily Politics

  8. Trump interview quotes - and the reaction: 2) Brexitpublished at 16:50 Greenwich Mean Time 16 January 2017

    "Basically [the EU is] a vehicle for Germany. That's why I thought the UK was so smart in getting out and you were there and you guys wrote it — put it on the front page: 'Trump said that Brexit is gonna happen'."

    The Guardian's Jonathan Freedland, external writes that Mr Trump gave "the Brexiteers just enough to keep them happy", adding that, when asked directly about a trade deal, Mr Gove was given a "non-answer: 'I think you're doing great!'"

    The Daily Telegraph says, external: "The comments in The Times newspaper will be a boost for Mrs May, who is preparing a major speech on Tuesday to set out her plans for Brexit."

  9. Trump interview quotes - and the reaction: 1) Trade dealpublished at 16:43 Greenwich Mean Time 16 January 2017

    "I'm a big fan of the UK, uh, we're gonna work very hard to get it done quickly and done properly - good for both sides."

    Foreign Secretary Boris Johnson says: "It's great to hear that from President-elect Donald Trump. Clearly it will have to be a deal that's very much in the interest of both sides, but I have no doubt that it will be."

    The Financial Times's Shawn Donnan argues, external that Mr Trump and Theresa May could be in for a "rude awakening", with any deal potentially taking years and some UK economic sectors, such as farming, questioning whether the terms of US-UK free trade would benefit them.

    Theresa May's spokeswoman says: "We welcome the commitment to have a deal quickly and it highlights one of the opportunities of leaving the EU. We welcome the enthusiasm and energy the president-elect is showing."

  10. Davos: Are the world's 'liberal elites' in retreat?published at 16:41 Greenwich Mean Time 16 January 2017

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  11. Farron urges May 'not to wave white flag'published at 16:37 Greenwich Mean Time 16 January 2017

    Tim Farron

    Tim Farron has told the BBC that Downing Street has "clearly been briefing" that the UK will be leaving the single market, in advance of Tuesday's speech.

    This, the Lib Dem leader suggests, is "incredibly foolish" given the strength of the UK's existing trading relationship with the EU.

    He suggests the UK should be focusing on protecting what it already has rather than pursuing the "mythical" benefits of a free trade deal with the US and other economic superpowers in which the UK risks getting "done over". 

    Quote Message

    If you are the British prime minister and you are going to argue Britain's corner and fly the flag for Britain, don't wave the white flag in advance and give up on membership of the single market before you have even argued for it."

    But Liam Halligan, the author of a report advocating Clean Brexit, says the UK must "politely but firmly" tell the EU that it will pursue trade deals with other nations after it has removed itself from all the EU's existing institutions. 

    To depart with the minimum of damage, he says the UK must resist the temptation to try and negotiate an over-arching trade deal over the next two years, saying this will only lead to "finger-pointing, horrible rhetoric and more nationalism" which could "shatter" relations with the EU for decades.

    Quote Message

    We have a choice. We can either try and cut a huge deal that bends the cardinal principles of the EU - trying to bend free movement in return for some kind of trade access. That could lead to a nervous breakdown across Europe. I want us to say boldly now 'we are going to be outside the single market and the customs union and we are going to spend the next two years preparing for that in terms of getting our own legal house in order'."

  12. Watch: Parliament repairs should start 'immediately'published at 16:23 Greenwich Mean Time 16 January 2017

    Media caption,

    MP Shailesh Vara says plans to move Parliament to nearby buildings should be dropped, with restoration work getting under way now

  13. Ministers spend £84k on Brexit casepublished at 16:03 Greenwich Mean Time 16 January 2017

    The Welsh Government defends spending more than £84,000 on the Brexit case at the Supreme Court.

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  14. EU no longer the 'Sun King' says ex-envoypublished at 16:03 Greenwich Mean Time 16 January 2017

    BBC News Channel

    Whitehall street signImage source, PA

    Lord Marland, a former trade envoy to David Cameron, tells the BBC that the civil service needs to "up its game" if the UK is to seize the opportunities presented by leaving the EU.

    Whitehall, he suggests, has spent most of the past few decades "worshiping the Sun King that is the European Union" and now needs to be thinking across a "much wider canvass".

    As the UK's "oldest and greatest ally", he argues that the US should be the focus of much of the UK's efforts, complimenting Donald Trump for his "extremely sensible" decision to make clear from the outset who he wants to do business with and on what terms.

    But Tory MP Neil Carmichael sounds a note of caution, pointing out Donald Trump's history of protectionist rhetoric and the shortage of specialist trade negotiators that the UK currently has at its disposal.

    He is urging the government to remain as close to the EU single market as possible to protect access for the UK's goods and services to a market which he says currently accounts for 44% of all UK exports.

  15. Tory MP: Leaving single market holds 'no terrors'published at 15:37 Greenwich Mean Time 16 January 2017

    BBC News Channel

    Conservative MP Kwasi Kwarteng says leaving the single market should "hold no terrors" for British businesses.

    EU economies have been "flatlining" in recent years, he tells the BBC News Channel, while much of the rest of the world has been enjoying respectable growth, averaging at about 3%.

    It is those markets, which account for 80% of the world's total economic output, that the UK should be looking towards.

    Given the prospect of increased trade tensions between the US and China and Mexico, he says the Trump administration will be looking to the UK as a model of the kind of relationship that it wants to develop. 

    Quote Message

    It is the case now that the US is our biggest trading partner. Once we leave the EU, I think the scope for furthering that relationship will increase... Donald Trump needs to show his own electorate that he is open to free trade with like-minded economies and I think he is keen to do a deal."

  16. Watch: Sinn Féin refuses to nominate deputy first ministerpublished at 15:37 Greenwich Mean Time 16 January 2017

    Media caption,

    Nominating officer Michelle O'Neill says the DUP's actions had "diminished the credibility" of the political institutions and the public should have its say

  17. Trump interview quotes - and the reactionpublished at 15:24 Greenwich Mean Time 16 January 2017

    Donald Trump has given his first UK interview since being elected - what do commentators think?

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  18. CBI warns of 'unanswered questions' over Brexitpublished at 15:22 Greenwich Mean Time 16 January 2017

    Factory in County DurhamImage source, AFP

    Britain risks a “disorderly crash landing” if it assumes it can walk away from Brexit talks without any kind of trade agreement, business leaders say.

    CBI director general Carolyn Fairbairn told the Guardian, external that barrier-free access was an incredibly important principle for British business and the UK's reputation as one of the most open economies in the world was at stake.

    "There is no doubt that the world is watching. They are watching our every move," she said.

    While there were exciting opportunities for British businesses outside the EU, she also saw considerable risks.

    Quote Message

    An exit into WTO at the stroke of midnight without the proper planning and preparation in place would be very serious for the UK economy. There are some signs that there is more conversation around that being an outcome. Our job is to demonstrate how difficult that would be because of all of these unanswered questions."

  19. Trump interview: Boomerang diplomacy?published at 15:20 Greenwich Mean Time 16 January 2017

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  20. Trump interview: Is Donald helping Theresa?published at 15:20 Greenwich Mean Time 16 January 2017

    Laura Kuenssberg
    BBC political editor

    Does it help?

    On the face of it, on some of the front pages at least, it seems a slam dunk.

    Before Theresa May gives an important speech on Tuesday outlining her plan for the tortuous process of taking us out of the European Union, there has been a big thumbs-up for Brexit (literally- see above) from the most powerful individual in the world.

    On top of that, Donald Trump, who'll be in charge from Friday, breezily promises a trade deal with the United States that can be sorted out without further ado.

    Since the social and diplomatic embarrassments of Nigel Farage's freelance trips to Trump Tower, Number 10 seems to have worked to get the president-elect on board, and his comments in his Times interview to former cabinet minister Michael Gove seem to illustrate success - with the groundwork prepared for a visit between Mr Trump and Mrs May soon after the inauguration.