UK trade minister says “no deal” the most likely scenario in Brexit negotiations

GEOFF CADDICK

British Secretary of State for International Trade Liam Fox gives his speech during the Conservative Party Spring Forum, at the SSE SWALEC Stadium in Cardiff, Wales, Britain, 17 March 2017.

UK trade minister says “no deal” the most likely scenario in Brexit negotiations


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The UK’s Trade Secretary Liam Fox said that “no deal” is the most likely outcome of ongoing Brexit negotiations with the European Commission.

In a statement to the Sunday Times, Fox said that EU “intransigence” means that there is a “60-40” chance of a “no deal” scenario.

Blaming the negotiating stalemate exclusively on the European Commission, Mr. Fox said that “… if the theological obsession of the unelected {European Commission} is to take priority over the economic wellbeing of the people of Europe then it’s a bureaucrats’ Brexit – not a people’s Brexit – then there is only going to be one outcome.”

Mr Fox says the risk has increased, echoing the Governor of the Bank of England Mark Carney on Friday, who said on Friday that the possibility of a no deal Brexit was “uncomfortably high.”

However, Carney added that the UK’s financial system was robust and could withstand a no deal scenario. Following his statement, Brexiteers attacked Carney whom MP Jacob Rees-Mogg called the “high priest” of “project fear.” Project fear is what Leave campaigners called thee warnings uttered by Remain campaigners of the economic consequences

Meanwhile, Downing Street issued a statement expressing confidence in the UK’s ability to conclude a deal based on the prime minister’s White Paper, calling the possibility of a no deal Brexit an “unlikely event.”

The Foreign Secretary Jeremy Hunt has expressed less optimism, suggesting that it is possible that no deal could prevail “by accident,” if negotiations collapse.

Labour’s shadow Brexit secretary, Keir Starmer, Tweeted on Sunday that “no deal would be a catastrophic failure of government, which no government should survive. The cause: PM’s reckless red lines, Tory divisions & fantasy Brexiteer promises. Parliament has a duty to prevent it.”

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