Oh yes, they’re at it again: this time the Bank of England Governor Mark Carney has reportedly told the Cabinet that leaving the EU without a deal could mean house prices falling by 35% in three years. He also apparently forecasted a potential spike in unemployment and transport links to the EU stalling – all equating to something resembling the 2008 financial crash. Plagues of locusts as well no doubt? Of course The Guardian have dutifully whipped up this latest round of Project Fear, just as they did before the referendum when George Osborne made the farcical prediction of an 18% hit on house prices if Britain voted to Leave.
Bank of England Governor Mark Carney has claimed that leaving the European Union without a deal could be as big a disaster as the 2008 financial crash. Today at a cabinet meeting on Brexit preparations, he told Prime Minister Theresa May that leaving on bad terms means dire consequences for the UK. Sources told The Guardian that Mr Carney suggested a no-deal outcome would slash house prices by 25-30 per cent over a three-year period.
A no-deal Brexit could lead to a financial crisis as bad as the crash in 2008, the governor of the Bank of England has warned. Mark Carney told Theresa May and senior ministers that not getting a deal with the European Union would lead to a number of negative economic consequences. It is also understood that Mr Carney warned house prices could fall by up to 35 per cent over three years in a worst case scenario, an event that could cause the value of sterling to plummet and force the bank to push up interest rates.
House prices would fall by 35 per cent over three years after a chaotic no-deal Brexit, according to a stark briefing given to the cabinet by the Bank of England governor yesterday. Mark Carney told senior ministers that spiralling mortgage rates would cause a crash in the housing market. He was briefing the cabinet on the Bank’s preparations for the aftermath of leaving the European Union next March without a full withdrawal deal. He outlined the Bank’s modelling on the EU agreeing a skeleton deal, in which a few ad-hoc arrangements would be reached, and a worst-case chaotic exit.
The Governor of the Bank of England has been accused of wanting to spread “gloom and despondency” about Brexit after he claimed house prices would crash by up to 35 per cent in a no-deal Brexit. Mark Carney told the Cabinet on Thursday that in a “worst case scenario” Brexit mortgage rates would spiral, the pound would plummet, inflation and interest rates would rise and millions of homeowners would be left in negative equity. He was challenged by both Remainers and Leavers in the Cabinet, who questioned his methodology and pointed out that he had not taken into account what the Government could do to avert such a scenario.
Eurostar trains would be turned back from Europe if Britain crashes out of the EU without a deal, a leading French minister has warned. Nathalie Loiseau, the minister for European affairs, said it was “correct” that both trains and planes from the UK would be barred without an exit agreement. “If we reach no agreement this is what will happen, among other things,” Ms Loiseau told an event in London. The warning comes one week after a secret Treasury document acknowledged there were questions about “rail access to the EU” if there is a no-deal Brexit.
Vehicles made in the UK could no longer be sold in the EU if Britain crashes out without a deal, a shock government document admits. EU “type-approval” would no longer be granted to prove the vehicles “comply with safety and environmental standards”, it warned. It was issued just two days after the boss of Jaguar Land Rover attacked Theresa May’s Brexit strategy, warning that that tens of thousands of jobs were being put at risk. Manufacturers would need to seek approval from an authority in an EU member state – if such an agreement could be struck.
Yet more Project Fear bollocks was slapped down in record time yesterday, this time on the issue of roaming charges for mobile data. At 17:13, Sky News ran the news that roaming charges across the European Union would return in the event of the UK exiting the EU with No Deal. However just hours later at 22:02, The Sun’s Tom Newton Dunn revealed that in fact the government have secured free mobile roaming across the EU even in the event of No Deal. Yet again another cack-handed anti-Brexit story is smashed to pieces almost immediately. Project Fear continues to take a hammering from reality.
Dominic Raab has admitted a no-deal Brexit would bring “risks and disruption” with “delays for businesses” and exports hit by tariffs, ahead of issuing further advice to the public. The Brexit Secretary sought to temper expectations about crashing out of the EU without an agreement, saying: “No one should pretend that no deal would be straightforward.” Mr Raab said ministers could “mitigate” the dangers, easing the flow of imports into the UK by “recognising certain EU-approved goods for import”, for example.
UKIP Scotland MEP David Coburn branded the EU’s new copyright proposals an “enormous strike against free speech on the Internet” in the European Parliament, before being howled down by establishment politicians and cut off by the parliament’s president. Mr Coburn attempted to speak out against the EU Commission’s proposal on a new Directive regulating Copyright in the Digital Single Market, moved by rapporteur Axel Voss — a German MEP representing Angela Merkel’s Christian Democratic Union (CDU).
BRUSSELS is redrafting plans for the Northern Ireland border riddle following a declaration from EU chief negotiator Michel Barnier that an agreement between Britain and the bloc was mere weeks away. In the latest sign Brussels is finally easing up on its hardline stance to Britain, EU officials are re-wording language on the Irish backstop in a bid to make it more accessible to the UK. But sceptics said despite concessions coming from the bloc, allowances will have to be made on both sides of the Channel.
The leaders of the EU will not impose new instructions on Michel Barnier to get a Brexit deal, a senior diplomat has confirmed, in a blow to the UK’s hopes of going over the chief negotiator’s head to secure approval for its Chequers plan. At a summit in Salzburg next week, Europe’s leaders will hear a presentation from Theresa May during a dinner before discussing Brexit among themselves the following day, with just weeks to go before an agreement is needed. An EU diplomat involved in the Brexit negotiations said the prime ministers and presidents would at that stage discuss the details of an extraordinary Brexit summit pencilled in for November.
The UK government’s mass surveillance programme violated human rights and had “no real safeguards”, the European Court of Human Rights (EHCR) has said in a landmark ruling. The Strasbourg court said British intelligence agencies’ interception regime violated the right to a private and family life, since there was “insufficient oversight” over which communications were chosen for examination. Not enough protection was given to journalistic sources by the government’s mass information collection programme, violating the right to freedom of expression, it also said.
A mass surveillance programme by the UK government violated human rights, the European Court has ruled. In a landmark case brought by charities including Amnesty and human rights group Big Brother Watch, the top court ruled that the “bulk interception regime” breached rights to privacy (Article 8). It comes after US whistleblower Edward Snowden disclosed British surveillance and intelligence-sharing practices.
BREXIT secretary Dominic Raab is preparing for a Hard Brexit scenario he says will see the UK welcome new free trade offers immediately and allow control over immigration straight away. Mr Raab pledged “Britain need not be afraid of a no-deal Brexit” and rattled off several benefits of the approach. He made a reference to Roberto Azevedo of the World Trade Organisation (WTO), which he also says the UK can do without, adding its terms are “inferior to our current free trade arrangements”.
Blue passports will not be ready in time for Brexit, the Government has confirmed, with holidaymakers to be issued with burgundy documents for most of 2019. The announcement will dash the hopes of Leave voters who may have wanted to mark Britain’s departure from the European Union at the end of March next year with the return of the iconic document. The news was one of the disclosures contained within the Government’s latest batch of 28 no-deal Brexit preparation papers. Dominic Raab, the Brexit Secretary, said the UK faced “short-term risks and short-term disruption” but insisted a no-deal departure would “not be the end of the world”.
THE Government has warned that people with British passports could be blocked from entering the EU in the event of a “no deal”. The warning was part of 28 new papers published on preparing for a “no deal” scenario with advice on travelling to Europe. If there is no deal many of the agreements within the EU will cease to apply for Britain which means UK citizens will need passports less than 10 years old and with three months validity left when they enter the EU. It also potentially means that UK driving licenses would cease to be valid in the EU so drivers wanting to use a vehicle in the EU will have to get an International Driver Permit (IDP). The same will apply to EU citizens wanting to visit Britain.
Travellers who renew their passports face losing up to nine months’ validity due to a little-publicised change to rules brought in by the Home Office. Up until last week, when British citizens renewed their passports, time remaining on the existing document was added to the new one – up to a maximum of nine months. But passport applicants have been told this no longer applies and any remaining months will be lost if an attempt is made to renew the document early.
Britain will have to honour its Brexit divorce bill in the event of no deal if it wants European leaders to help to ameliorate the worst effects of crashing out of the bloc, Brussels officials have said. Dominic Raab, the Brexit secretary, said yesterday that it was a “statement of fact” that the UK would not pay all of its £37 billion bill should exit negotiations collapse. He suggested that the government would honour its international legal obligations but that ministers could withhold up to £16.4 billion in EU contributions due to be paid during the transition period.
Tory infighting reached a new low today as the ‘new generation’ of MPs demanded a clear out of the Eurosceptic hardliners. Politicians elected since 2010 believe veterans who forced through Brexit after decades of fighting the EU are out of line with the country. Dozens of moderates on the Tory Reform Group (TRG) met in the Commons last night to strike a contrast with Brexiteers who called for Theresa May to be ousted at a meeting on Tuesday night. And Tom Tugendhat, the high-flying chairman of the Foreign Affairs Committee, today insisted the party had to stop ‘banging on about Europe’ and look to a future led by politicians like himself and Ruth Davidson.
Theresa May’s former policy adviser has called on her to step aside after Brexit day next year to give a “new generation” the chance to shape the country’s future. George Freeman, who was chairman of the prime minister’s policy board for over a year after she entered No 10, said that she should be given space to negotiate the divorce deal with Brussels then go with “gratitude”. The party would then need to hold a leadership contest to find a candidate with the best vision for the second stage of Brexit, meaning a contest next summer culminating at the Tory conference.
Steven Woolfe has been rejected from joining the Tory Party, as the Conservatives allegedly seek to exclude a wave of Brexiteers attempting to sign up. The former UKIP leadership hopeful and independent Member of the European Parliament (MEP) slammed the decision by Conservative Headquarters (CCHQ) and is considering appealing. “I understand that [CCHQ] has confirmed my application to join the Conservative Party has been rejected, despite previous confirmatory email [and] no communication of this to me,” he wrote on social media. “I am of course disappointed when the Party needs all Brexit supporting conservatives behind them.”
The Tory Party have blocked Brexiteer MEP Steven Woolfe from joining the party – despite other former UKIP MEPs having been allowed to join. Guido revealed that the former Tory Councillor was apparently rejected from re-joining, with a party spokesman saying: “Steven Woolfe’s application for membership of the Conservative Party has not been accepted.” When speaking to Westmonster, the Member of the European Parliament said: “By joining the Conservative Party and being part of the Blue Wave movement we are going to try and encourage people to make the Conservative Party Conservative again and ensure they listen to the will of the people.”
The shadow home secretary, Diane Abbott, has pledged to treat citizens from the EU and the rest of the world equally as part of Labour’s vision for a post-Brexit immigration system, saying that “a fully qualified doctor from Pakistan will be treated just like a fully qualified doctor from Poland”. In a speech at Portcullis House in Westminster on Thursday, Abbott announced proposals to overhaul the work visa policy in the UK, which is currently structured with a range of tiers reflecting different employment categories.
LABOUR is teaming up with Remainers in the House of Lords to use controversial parliamentary procedure try to force Britain to stay under Brussels rule. The unelected peers will attempt to put down amendments to the Trade Bill to try to reopen attempts to force Britain to stay in a customs union with the EU. Previous attempts by peers to keep the UK in a customs union have failed. If successful it will prevent Britain from having its own free trade deals or its own trade policy but instead have to accept rules from Brussels. It could also mean that the UK may be forced to accept free movement and uncontrolled immigration.
The former UKIP donor Arron Banks has told Sky News that he wants to recruit 50,000 new members into the Conservative Party. The Brexit backer and close ally of Nigel Farage has recently attempted to join the Tories, but his attempts to do so have been thwarted by Conservative Central Office. He, alongside former UKIP MEP Steven Woolfe, have founded the “Blue Wave” organisation, which is dedicated to recruiting former UKIP members – and others who wish to secure the hardest of hard Brexits – into the Conservatives.
THE Scallop Wars could reignite today after British fisherman walked out of peace talks with their French counterparts. Last night HMS Mersey was on standby in the English Channel to protect our fishermen from fresh attacks. Minister George Eustice last night called for calm as tense industry negotiations designed to end the conflict collapsed when French fisherman refused to offer the Brits decent compensation not to fish the waters. Crews clashed last month over laws that allow British boats to gather scallops year-round, but place restrictions on French vessels.
Cancer waiting times in England have sunk to their worst ever levels, according to damning NHS statistics. Only 78.2 per cent of patients started treatment within two months of an urgent GP referral – well below the Government target. Charities today slammed the figure, which is the lowest percentage since records began nearly 10 years ago, in October 2009. Macmillan Cancer Support described them as ‘disappointing’, as the 62-day target has now been breached for 31 months running.
The estimated cost of buying land on the HS2 route has tripled in just six years to more than £3 billion, the spending watchdog revealed yesterday. In 2012, the company building the high-speed line from London to Birmingham estimated it would cost £1.1 billion to buy land and properties along the route. But by July this year, HS2 Ltd believed the total would be £3.3 billion – and the National Audit Office said the cost could soar yet further. The entire project is expected to cost £56 billion. HS2 Ltd was also criticised for delays in giving residents the compensation they are due after land is compulsorily purchased.
Theresa May has condemned the lies and “blatant fabrications” in the interview given by the two Russian men accused of perpetrating the Salisbury novichok attack. The prime minister said the interview given to Russian state-sponsored television was offensive to the victims of the chemical weapons attack aimed at killing ex-spy Sergei Skripal. It follows an interview with the Kremlin-funded RT network, in which the men denied they were Russian intelligence agents and rejected any knowledge of the toxic substance or assassination attempt, instead claiming they were in Salisbury to see the cathedral.
Theresa May today blasted Russia’s novichok assassins after they claimed to be tourists stuck in Salisbury and called their story ‘lies and blatant fabrication’. The Prime Minister said the suspects, who used the aliases Alexander Petrov and Ruslan Boshirov to get into Britain, had ‘insulted the public’s intelligence’ and had been ‘deeply offensive to victims’. Today the suspected GRU agents, believed to be from Siberia, told state TV station RT they were only wandering around Salisbury after failing to get to Stonehenge because of snow.
THE suspected Russian assassins wanted over the Novichok poisoning in Salisbury may have been lovers, according to bizarre new claims. Alleged GRU spies Alexander Petrov and Ruslan Bochirov are wanted over the attempted murder of former KGB spy Sergei Skripal and his daughter Yulia using a military-grade nerve agent on March 4. Speculation over the nature of their relationship began when they were asked by Russian state TV station RT: “On the (CCTV) video you are shown always together. You were together, lived together, walked everywhere together. What does in fact connect you?” Boshirov replied: “Let’s not pry into our private lives.”