Day-to-day effects of no-deal Brexit stressed in new impact papers

Day-to-day effects of no-deal Brexit stressed in new impact papers

Traders say many investors are reluctant to take out big directional bets on sterling because of the uncertainty about where the Brexit negotiations are headed. "That's why we're putting so much effort into getting a deal over the next six to eight weeks".

Prime Minister Theresa May "used to say Brexit wouldn't be the end of the world - but actually it could be!" she said.

It added that leaving without a deal would not prevent United Kingdom mobile operators making and honouring commercial arrangements with mobile operators in the EU.

The second tranche of technical notices giving guidance on the impact of a no-deal Brexit has been released by the Government.

The Brexit department said issues covered will include upholding environmental standards, plans for vehicle standards and mobile-phone roaming charges.

Still, with the March 29 exit date nearing, the divorce agreement has yet to be finalised and the possibility of a "no deal Brexit" - which most economists think would hurt the British economy - remains.

Irish citizens (document here) - British and Irish citizens can continue to travel freely between Britain and Ireland without seeking immigration permission.

Warm weather returns to Montreal - hurricane Florence expected to strengthen
Florence may grow to a Category 5 hurricane by the time it hits the North Carolina coast early Friday morning. In the Pacific, Olivia became a tropical storm again on a path to hit Hawaiian islands early on Wednesday.

The credit ratings agency said that the risk of a no-deal Brexit had "risen materially".

Britain and the EU both say there must be no customs posts or other infrastructure along the now invisible frontier, but they have not agreed on how that can happen once the United Kingdom leaves the bloc's tariff-free customs union.

The document admits that a no-deal Brexit is an unlikely scenario "given the mutual interests of the United Kingdom and the European Union in securing a negotiated outcome" but says that millions of motorists need to be aware of the potential new rules as a precaution.

"One effect would be that "we wouldn't pay out the money that has been agreed", he told BBC radio.

The Brexit Secretary insisted the government "would not pay the terms of the financial settlement" if talks failed. "That is why we must have a people's vote on the final Brexit deal".

The assessments also warned of major disruption for tech firms.

United Kingdom businesses and consumers should brace themselves for tariffs, customs bureaucracy and higher bank charges if the United Kingdom leaves the European Union without a deal, London warned on Thursday (23 August) in its most serious reality check to date.

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