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May plans new Brexit speech as ministers urge her to aim high
Theresa May has started preparing for a third major Brexit speech setting out Britain’s future relationship with the EU in the new year amid cautious optimism of an emerging cabinet consensus. The prime minister promised her senior ministers at least two more chances to shape Britain’s desired “end state” before setting out her position publicly at yesterday’s meeting of a cabinet sub-committee. Boris Johnson, the foreign secretary, and Michael Gove, the environment secretary, led calls for a presumption that Britain would diverge from EU rules in the first formal discussion of the future relationship by senior ministers.
Toyota commits to manufacturing 5.5m electric cars a year by 2030
Toyota will be producing more than 5.5 million cars a year that will be electrified, in some way, by 2030. In a significant shift in strategy, the Japanese automotive giant previously seen as the king of the hybrid electric car has committed to producing more purely electric vehicles. Toyota is the first of the big three carmakers to put a number on the volume of vehicles it believes it will produce annually by the end of the next decade that will be either hybrid-electrics, plug-in hybrids, pure battery electric vehicles or run on hydrogen fuel cells.
http://www.channel4.com/programmes/supershoppers/on-demand/66237-010 Interview with Tom Curtis, NBRA Head of Market Operations, about car high damage ((from min 11:00).
IPPR proposes creation of ‘shared market’ for UK and EU
A think tank is proposing a post-Brexit trading deal based on the UK and the EU sharing each other’s markets. It would see the UK and EU continuing the regulatory alignment that exists today, and the formation of a new customs union similar to the existing one, the centre-left IPPR said. It would allow tariff-free trade, and the UK to benefit from EU trade deals. IPPR director Tom Kibasi said it “honours the referendum result” while securing Britain’s economic interests. The group said that the EU would also benefit from the scale of the UK’s economy in future trade negotiations.
Theresa May and cabinet want ‘cake’ back on Brexit negotiating table
Theresa May is to seek what foreign secretary Boris Johnson once called a “have our cake and eat it” Brexit, after senior cabinet ministers backed her plan to push for an ambitious trade deal with the EU coupled with regulatory divergence from the bloc. Chancellor Philip Hammond is among the cabinet members backing the prime minister in her plan to explore the possibility of combining the best of both worlds outside the EU, in spite of warnings from Brussels against wishful thinking. The new defence secretary Gavin Williamson went even further by throwing his full weight behind the Eurosceptic members of the Brexit cabinet committee, which discussed Britain’s future relationship with the EU for the first time on Monday.
Manufacturing boost is a sign of growing confidence in the UK
British manufacturing is receiving an end-of-year bonus with the news that business is at a near 30-year-high for the last three months of 2017. Export orders are at their strongest since the mid-1990s. This is in part due to the lower pound boosting exports and also growing confidence as the Brexit talks make progress. Decisions that have been delayed because of the atmosphere of uncertainty in the past 18 months following the EU referendum are now being taken. Strongest of all the sectors are motor vehicles, transport equipment and mechanical engineering, according to a survey by CBI Industrial Trends.
Britain’s FTSE lifted by global optimism on U.S. tax bill
UK shares rose on Monday alongside European peers as a global wave of optimism on U.S. tax lifted stocks markets in Asia and led the MSCI all-country world index to a new record high. The FTSE 100 was up 0.6 percent, even as a rising pound weighed on the index. A strong currency typically cuts revenues for the international companies that dominate the index and do much of their business outside the UK.
Corbyn boasts: I’ll probably be the PM within a year
Jeremy Corbyn risked being accused of arrogance yesterday after declaring he will be in Downing Street next year. The Labour leader said he would ‘probably’ win an election and that he was ‘ready to be prime minister’. He claimed: ‘There will probably be another election in the next 12 months. I will probably win.’ It is not the first time he has made such bullish comments. After appearing at Glastonbury Festival in June, he reportedly told its founder Michael Eavis that he would be in Number 10 ‘by Christmas’. And at the Labour Party Conference in September, he told delegates his party was ‘on the threshold of power’.