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BoE's Carney sees 10 bln-pound Brexit hit to United Kingdom economy

BoE's Carney sees 10 bln-pound Brexit hit to United Kingdom economy

Davis spoke in a hearing before a committee of British MPs.

In relation to the timeline of any transition deal, Mr Davis again said he was relaxed about this and felt it would be "about two years".

It is a taste of things to come for a weakened May, who has struggled to keep her divided party and cabinet team of ministers united over everything from transition, to the future relationship, to the so-called Brexit dividend - the funds that will be freed up when Britain stops paying into European Union coffers.

A Downing Street source said: "The Government's policy is that we are leaving the single market and the customs union".

The direct appeal to May and her government breaks with tradition, and follows criticism by Rees-Mogg on Wednesday that Brexit minister David Davis was helping make Britain a "vassal state" of the European Union by agreeing to a status quo transition.

"One way or another we will resolve this issue".

Liberal Democrat MP Tom Brake, a supporter of the pro-EU Open Britain campaign, said: "The Government's attitude towards our sovereign Parliament is threatening to turn their stunning defeat over Amendment 7 into a sham".

More news: Jose Reyes agrees with Mets on one-year contract

The accusation was levelled at Davis as he answered questions in front of the Commons Brexit committee on 24 January. Laughing, Davis contended that the United Kingdom was not a "servant" state.

"This is no way to negotiate and it is no way for this country to behave", he added.

Rees-Mogg said that Britain would be a "vassal state" during the transition as it would continue to pay into the EU budget and remain subject to the jurisdiction of the European Court of Justice.

The Brexit Secretary also said that anyone who used the phrase "red lines" when going into a negotiation was an "idiot", after Rees-Mogg accused him of drawing such lines in Brexit talks.

The Brexit Secretary will make a speech formally setting out the UK's hopes and goals for the transition period with the aspiration it can all be sorted out by March.

When asked about what he thought might be the hard elements in the transition deal, Mr Davis said he thought the arguments would surround issues such as doing "outside negotiations" on trade deals with non-EU countries.

"Aren't we just still acting as if we are in the European Union?"


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