CBI says that UK is not ready for a no-deal Brexit in October

The Confederation of British Industry (CBI) has warned the government that neither the UK nor the EU is ready for a no-deal Brexit on 31 October.

“While the UK’s preparations to date are welcome, the unprecedented nature of Brexit means some aspects cannot be mitigated,” said the CBI.

It has published practical steps it says the UK, EU and firms can take.

A government spokesman said the UK has increased the pace of planning for no-deal.

The CBI had previously said leaving the EU with a deal was essential to protect the economy and jobs.

New prime minister Boris Johnson has made Michael Gove responsible for planning a no-deal Brexit.

Mr Gove has said the UK government is currently “working on the assumption” of a no-deal Brexit.

He said his team still aimed to come to an agreement with Brussels but, writing in the Sunday Times, he added: “No deal is now a very real prospect.”

‘Hampered’

The CBI’s report What Comes Next? The Business Analysis Of No Deal Preparations advises what measures businesses can take to reduce the worst effects.

The advice is based on a study of existing plans laid out by the UK government, European Commission, member states and firms.

“And although businesses have already spent billions on contingency planning for no deal, they remain hampered by unclear advice, timelines, cost and complexity,” the CBI says.

“Larger companies, particularly those in regulated areas such as financial services, have well-thought-through contingency plans in place, though smaller firms are less well prepared.”

The report is based on thousands of interviews with firms of all sizes and sectors, including 50 trade associations, covering all areas of the UK economy.

The CBI says that in a no-deal Brexit some 24 of 27 areas of the UK economy would experience disruption.

The UK had been due to leave the EU on 29 March, but former Prime Minister Theresa May asked for an extension and the date was pushed back to 31 October.

A UK Government spokesperson said: “This is a constructive contribution from the CBI, acknowledging the importance of all businesses preparing for no deal on the 31 October.

“While we have done more to prepare than this report implies, since the new Prime Minister was appointed the Government has stepped up the pace of planning for no deal. The Chancellor has confirmed all necessary funding will be made available for vital no deal preparations. This includes funding for a major nationwide communications campaign to ensure that people and businesses are ready.

“Crucially, while there is more to do, the CBI observes that the UK is ahead of the EU in planning for no deal.”

Gove and Javid announce no-deal Brexit now ‘assumed’ by government

The government is now “working on the assumption” of a no-deal Brexit, Michael Gove has said.

Mr Gove said his team still aimed to come to an agreement with Brussels but, writing in the Sunday Times, he added: “No deal is now a very real prospect.”

The prime minister has made Mr Gove responsible for preparing for no-deal.

Treasury sources say they expect more than £1bn of extra funding to be made available later this week for no-deal planning and preparation.

Writing in the Sunday Telegraph, Chancellor Sajid Javid said there would be “significant extra funding” for 500 new Border Force officers and “possible” improved infrastructure at British ports.

Prime Minister Boris Johnson has told Mr Gove to chair no-deal meetings seven days a week until Brexit is delivered, according to the Sunday Times.

Mr Gove said tweaks to Theresa May’s withdrawal agreement – which was approved by the EU but resoundingly rejected by Parliament – would not be enough.

“You can’t just reheat the dish that’s been sent back and expect that will make it more palatable,” he wrote.

He added he hoped EU leaders might yet open up to the idea of striking a new deal, “but we must operate on the assumption that they will not”.

“While we are optimistic about the future, we are realistic about the need to plan for every eventuality.”

Mr Gove highlighted a major flaw of Mrs May’s deal as the Irish backstop plan – a measure designed to prevent the introduction of a hard border on the island of Ireland.

So far the backstop has proved a sticking point in the Brexit negotiations.

A no-deal Brexit would mean the UK leaving the EU and cutting ties immediately, with no agreement in place.

The UK would follow World Trade Organization rules if it wanted to trade with the EU and other countries, while also trying to negotiate free-trade deals.

But with Britain outside the EU, there could be physical checkpoints to monitor people and goods crossing in and out of the UK.

No-confidence vote

Speaking to Sky’s Sophy Ridge, Labour leader Jeremy Corbyn said he would do everything to prevent a no-deal Brexit.

He reiterated his call for a new referendum – insisting he would still hold one if Labour were in power – and said, in the event of a no-deal Brexit, Labour would campaign to remain in the EU.

Mr Corbyn also said he would look at whether to call a no-confidence vote in the government after Parliament returns in September.

Liberal Democrat leader Jo Swinson told Sky that, in the event of a general election, her party’s message would be: “Stop Brexit, stop Boris and start renewing our country.”

Mr Gove is one of several new ministers pressing on with Brexit preparations since joining Mr Johnson’s cabinet earlier this week.

Newly appointed Chief Secretary to the Treasury, Rishi Sunak, told Sky: “We’re turbo-charging preparations for no-deal, that is now the government’s number one priority.”

He said if the EU would not reopen discussions about the Irish backstop plan then “it’s right that we prepare properly, with conviction, and importantly with the financial resources that the Treasury will now supply properly”.

Noel Edmonds reaches £5M compensation deal with Lloyds over scam

Lloyds Banking Group has apologised to Noel Edmonds and agreed a compensation deal with him following a fraud case.

The TV star said a scam involving staff at the Reading branch of HBOS, which was subsequently bought by Lloyds, destroyed his business Unique Group.

Lloyds apologised for the “distress” suffered by Mr Edmonds but would not disclose details of the agreement.

But the Daily Mail reported he is thought to have received around £5m from the banking group.

A statement from Lloyds, on behalf of both parties, said: “Mr Edmonds and Lloyds Banking Group have reached an agreement in their dispute.”

It said the group will continue to assist the ongoing police investigation into matters relating to Unique Group and HBOS Reading.

Corrupt staff from the Reading branch were jailed in 2017 for a £245m loans scam between 2003 and 2007 which destroyed several businesses.

It was revealed they squandered the profits on high-end prostitutes and luxury holidays.

Mr Edmonds, 70, was one of the most high profile victims of the scam and took action against the bank, saying in 2018 they will “have to pay up”.

He initially sought a compensation claim of more than £60m.

He previously revealed he considered taking his own life as a result of his financial situation thanks to the scam.

Lloyds rescued HBOS at the height of the financial crisis and the Reading scandal has loomed large over the bank.

The group set aside £100m for victims of the fraud.

An independent inquiry chaired by Dame Linda Dobbs is investigating whether the fraud was properly investigated and reported to authorities by Lloyds following its acquisition of HBOS and whether any individuals sought to cover it up.

The statement from Lloyds added “both parties also agree to place their trust in the independent inquiry”.

Women’s football is now big business

This summer’s Women’s World Cup was a showcase of the best female footballers on the planet with twenty-four national teams gathered in France with the United States taking home their fourth world title.

For many football fans, casual or hardcore, it was their first time to truly watch women’s football. What they should have found while watching those matches was an increased interest in the women’s side of the game by many fans around the globe. Fans of women’s football can visit onlinebettingcodes.co.uk follow Europe’s top leagues this season and bet on their favourite teams. Not only have the top nations and players improved on the pitch with their play, but stronger clubs have taken root across Europe.

In England, the country’s biggest football clubs including Liverpool, Manchester United, Manchester City, and Arsenal all have women’s teams playing fully professional football. While the men’s game has long been the focus of these clubs, the interest in women’s football as sparked them to field teams thanks to financial incentives.

How big is women’s football?

A FIFA forecast claimed over 1 billion people around the globe would watch the Women’s World Cup over various platforms this summer. Of course, FIFA’s forecasts and claims shouldn’t and cannot always be believed. Yet, television networks such as the BBC backed much of what FIFA claimed. England’s Women’s Super League will kick off in early August and fans visit Betclicto wager on each game.

The BBC stated over 22 million viewers tuned into the tournament before England had even reached the semi-final stage. That is nearly double the viewing audience in the United Kingdom for the 2015 tournament in Canada. The exposure of women’s football has increased in the UK, but the favorable time zone with France also helped.

Sponsors taking notice of women’s football

While the Women’s World Cup reached new heights this summer, it could be in the domestic leagues that the game really advances. New sponsors have taken notice of women’s football and the interest fans have to the game.

England’s WSL agreed a sponsorship deal with bank Barclays, long the title sponsor of the men’s Premier League, last spring. The deal is the biggest in UK women’s sports history and will see the WSL paid £10 million over the next three seasons. In addition, there will be £500,000 paid out to the league’s teams, which will be divided based on their final league position.

On an individual club basis, Liverpool’s women’s team, previously sponsored by make-up company Avon, has now reached a deal with Standard Charter. The financial services firm has been a sponsor of the men’s team for some time. They will now cover the ladies’ team as well.

It isn’t just England’s WSL that is seeing an increase in sponsorship money. Chinese firm Alipay agreed to support the Chinese women’s national team in July. The deal is worth approximately £116m.

Women’s football is growing with the World Cup being the catalyst. Now, women’s leagues and clubs are benefitting from the trail that has been blazed. With the women’s game growing leaps and bounds, more major brands are set to get onboard.

Philip Hammond plans to resign as Chancellor if Johnson becomes PM

Philip Hammond has announced that he intends to resign as chancellor if Boris Johnson becomes the UK’s next PM.

He said a no-deal Brexit, something Mr Johnson has left open as an option, was “not something I could ever sign up to”.

Asked if he thought he would be sacked next week, Mr Hammond said he would resign on Wednesday to Theresa May.

He said he intends to quit after Prime Minister’s Questions but before Mrs May steps down.

Speaking on the BBC’s Andrew Marr Show, Mr Hammond said it was important the next PM and his chancellor were “closely aligned” on Brexit policy.

Mr Johnson has said the UK must leave the EU by the new Brexit deadline of 31 October “do or die, come what may”.

His leadership rival Jeremy Hunt has said a no-deal exit cannot be ruled out, but he is prepared to further delay Brexit if required to get a new withdrawal deal.

Mr Hammond said the situation “might be more complicated” if Mr Hunt wins the Tory leadership contest, but “all the polling” suggested Mr Johnson would succeed.

“That is what is likely to happen, and I’m making my plans accordingly”, he said, adding he would wait until the result is announced on Tuesday to “see for sure”.

Mr Hammond said he understood committing to leave by this date, even with no deal, would be a condition for serving in Mr Johnson’s cabinet.

He said: “That is not something I could ever sign up to. It’s very important that a prime minister is able to have a chancellor that is closely aligned with him in terms of policy”.

He added that Jeremy Hunt’s position regarding a no-deal Brexit was “more nuanced”, and he had not demanded a “loyalty pledge” on the exit date from prospective ministers.

Mr Hammond said he would support either man in their pursuit of a new Brexit deal, but it would not be possible to agree this before the end of October.

“A genuine pursuit of a deal will require a little longer”, he added.

Mr Hammond has been a prominent critic of the idea of a no-deal Brexit, recently indicating he may vote to bring down the next PM to stop such a scenario.

He had said he could “not exclude anything” when asked whether he would back a motion of no-confidence in the government.

Asked whether he would go against the next PM in a vote of no confidence, he said: “I don’t think it will get to that”.

“I am confident that Parliament does have a way of preventing a no-deal exit on October 31 without parliamentary consent”.

“I intend to work with others to ensure Parliament uses its power to make sure that the new government can’t do that”, he added.

Earlier, Justice Secretary David Gauke reiterated his intention to resign from government should the next prime minister pursue a no-deal Brexit.

Mr Gauke told the Sunday Times: “If the test of loyalty to stay in the cabinet is a commitment to support no-deal on October 31 – which, to be fair to him, Boris has consistently said – then that’s not something I’m prepared to sign up to.”