EXCLUDING financial services from the final Brexit trade deal with the EU would raise the risk of a fresh global crash, Philip Hammond and David Davis suggested last night.In a carrot and stick offer in an article in a German newspaper the Chancellor and Brexit Secretary said that only a deal that “supports collaboration within the European banking sector” would protect both UK and German economies.Raising the spectre of a repeat of the 2008 global financial crash for the first time, the pair wrote: “The economic partnership should cover the length and breadth of our economies including the service industries — and financial services.“Because the 2008 Global Financial Crisis proved how fundamental financial services are to the real economy, and how easily contagion can spread from one economy to another without global and regional safeguards in place.”Their appeal for financial services to be included in the final trade deal came as the EU’s … [Read more...] about The Chancellor Philip Hammond and David Davis warn of a global crash if financial services are excluded from final Brexit trade deal
David davies
EU ‘surprised’ at David Davis’ complaint over no-deal planning
The European Union has said it is "surprised" David Davis complained the bloc is planning for a no-deal Brexit. The Brexit Secretary sent a letter to Theresa May last month saying he would urge the EU to drop measures and guidance which could require UK companies to relocate to Europe or risk contracts being terminated if a Brexit deal is not struck.Margaritis Schinas, European Commission chief spokesman, said: "We are somehow surprised that the United Kingdom is surprised that we are preparing for a scenario announced by the UK Government itself."After all, it was Prime Minister May herself who said in her Lancaster House speech in January 2017, and repeated in her Florence speech in September, that 'no deal for Britain is better than a bad deal for Britain, it is right that the Government should prepare for every eventuality'."So we take these words by the Prime Minister very seriously and it is therefore only natural that in this house we also prepare for every eventuality."Mr … [Read more...] about EU ‘surprised’ at David Davis’ complaint over no-deal planning
‘We are surprised that you are surprised’: EU officials clash with David Davis over Brexit plans
EU officials have shot back at complaints from David Davis over their reported preparation for a 'no-deal' Brexit. The news comes after a leaked document showed that Davis, the Brexit secretary, had aired his frustrations with officials in Brussels over guidance that would make Britain a "third country" after Brexit. In the leaked letter, which was addressed to Theresa May, he warned the PM that some firms would have to relocate to the EU in order to prevent contracts from being terminated. The EU stated that it was Britain who first raised the possibility of a no-deal. As it stands, Britain is set to exit the EU on the 29 March 2019. Theresa May has always insisted that she has been planning for all possible scenarios and has repeatedly stated that "no deal is better than bad deal". But Davis' concerns over the EU preparations for a possible no-deal was described by the cabinet member as "damaging to UK interests". He warned that such discussions about 'no-deal', were "potential … [Read more...] about ‘We are surprised that you are surprised’: EU officials clash with David Davis over Brexit plans
Nicola Sturgeon hits out at David Davis’ ‘moaning’ over Brexit no deal
0 Have your say Nicola Sturgeon has labelled the Brexit Secretary’s “moaning” as “extraordinary” after his letter to Theresa May was made public. In the letter, David Davis has complained that the European Union is damaging British interests with its planning for a “no deal” Brexit.The Brexit Secretary said he would urge the EU to drop measures and guidance that could require UK companies to relocate to Europe or risk contracts being terminated in the event of no deal.But Scottish First Minister Nicola Sturgeon described Mr Davis’s “moaning” as “extraordinary” given the Government has set aside £3.7 billion to prepare to leave the EU without an agreement, and has repeatedly stated that “no deal is better than a bad deal”.READ MORE: Scotland facing constitutional crisis over Brexit billMr Davis told the Prime Minister he had sought legal advice but that the chances of a successful challenge … [Read more...] about Nicola Sturgeon hits out at David Davis’ ‘moaning’ over Brexit no deal
Who is David Davis? Brexit Secretary and Conservative MP for Haltemprice and Howden
BREXIT Secretary David Davis is one of Theresa May's most important parliamentary allies and an ardent Brexiteer.Mr Davis has twice competed for the Tory leadership and the Haltemprice and Howden MP returned to the cabinet last year after almost a decade on the backbenches to spearhead the PM's negotiations with the EU.Mr Davis, 68, was born in York to a single mother and was initially brought up by his grandparents.When his mother re-married the family moved to south London, living in a deprived part of Wandsworth before moving to a council estate in Tooting.He completed a BSc in computer science at Warwick University before studying a London Business School and Harvard.Aged 38, he was first elected to parliament in 1987 as MP for Boothferry - which later became his current constituency Haltemprice and Howden.In 1992, he was a government whip who worked on pushing through the Maastricht treaty, which led to the euro and greater integration of the European Union.He twice stood for … [Read more...] about Who is David Davis? Brexit Secretary and Conservative MP for Haltemprice and Howden