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Separate customs territory for Northern Ireland 'unacceptable': PM May's spokeswoman

03 November 2018
Separate customs territory for Northern Ireland 'unacceptable': PM May's spokeswoman

However, the minister for the Cabinet Office said he could not "emphasise strongly enough the prime minister feels absolutely committed to her pledge not to have under any circumstances a hard Border on the island of Ireland".

Britain's Secretary of State for Exiting the European Union Dominic Raab arrives in Downing Street in London, Britain, on Oct 29, 2018.

Britain on Wednesday said there was no set date for Brexit talks to finish, backtracking from a letter by Brexit Minister Dominic Raab that suggested a deal on the terms of its departure could be finalised by November 21.

A possible contraction in U.K. GDP, lower-for-longer rates and a potential turn in the credit cycle could drag on earnings in the event of a no-deal Brexit, he said.

The positive momentum seemed rather unaffected by disappointing UK manufacturing PMI and dismissal of the news regarding a Brexit financial services deal by the UK/EU officials.

Bank of England Governor Mark Carney says British households and businesses are responding in different ways to the uncertainty surrounding Brexit.

It could also upset some Brexit-supporting members of Prime Minister Theresa May's divided party who see leaving the European Union as an opportunity to abandon European Union regulation and turbo-charge London as a global financial hub.

Mr Coveney told RTÉ he met Mr Raab in London on Tuesday night.

European Union leaders had mooted a special summit in mid-November to seal the Brexit deal, but warned earlier this month this would not happen without more progress.

Britain and Ireland are co-guarantors of the 1998 peace deal that ended 30 years of sectarian violence in the province and introduced devolved government.

The GBP/USD is trading range bound near the 1.3000 major handle after Thursday's rally on refreshed Brexit hopes as the Cable heads into Friday's action ahead of another bumper US NFP showing.

'We have made it very clear that whether it's the customs regime for the United Kingdom as a whole, or the wider economic integrity of the United Kingdom as a whole, we will not allow any proposals to be accepted that would jeopardise that, and that is the crucial thing here.

Agreeing to a customs union in the withdrawal agreement would mean the EU had ceded its leverage by providing tariff-free trade on seafood into the internal market without reciprocal guarantees on access to British waters.

Now it is all a bit complicated (including talk of a backstop to the backstop, which in essence is a way to ensure that provisions relating to Northern Ireland are permanent).

"It also demonstrates that, despite the current challenges, both the Irish and United Kingdom governments are committed to developing the relationship between our countries and looking at ways to maintain and deepen our engagement", Mr Coveney continued.

Mr Lidington said he believed they were "very close to resolving" the outstanding issues, and he reiterated the UK Government's commitment "to getting over those final difficulties" in the Brexit negotiations as soon as possible.

"We have resolved most of the issues and we are building up together what the future relationship should look like and making real progress", he added.