MPs to reject British PM's Brexit deal: ex-minister

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The fact that UK-EU deliberations are in trouble is underlined by the fact that the hard deadline for a deal was pushed back from October to November, in the first place.

In order to win the trust of younger people who feel that Brexit is "being forced on them", he said Tories must make clear that European Union withdrawal "won't be a Nigel Farage Brexit, we are going to make it a One Nation Conservative Brexit and we are going to shape it and recast it in the spirit of a new generation".

"I hope that the Prime Minister will take on board what she's heard and chuck Chequers".

Garvin said the jobs of only "hundreds" of JPMorgan's 16,000 staff in the United Kingdom would be immediately affected by Brexit, though that could rise to around 4,000 in the years to come depending on the settlement reached between Britain and the EU.

Scheduling a summit to conclude the withdrawal negotiations would be a sign of growing confidence among the governments of Europe that an agreement on the UK's exit is close. The common currency continues to trade around the 1.16 mark, with investors looking to this Thursday's European Central Bank meeting to see if the currency can break out of its recent range.

"The treaty is clear, we have two years to reach an agreement before they leave... in March 2019". This is seen as critical by both sides, but talks have been deadlocked for months.

"Chequers is the only plan on the table which will deliver on the will of the British people while avoiding a hard border in Northern Ireland", the Prime Minister's official spokesman said.

However, investors have shied away from big bets, given the lack of concrete progress and events such as the ruling Conservative's party conference at the end of September, at which Prime Minister Theresa May could face a leadership challenge.

The UK is just 200 days away from leaving the European Union, but British politics is riven by disagreements over the country's future direction. British politicians inside May's governing Tory party, as well as in the opposition Labour Party, are preparing to sabotage the agreement.

The lawmakers, part of the European Research Group (ERG), an anti-EU grouping in May's Conservative party, met on Tuesday night and openly discussed May's future as leader, the BBC said citing an unnamed source. This time, one subject dominated: how to get rid of May. Many ERG members want a more decisive break and oppose May's so-called Chequers blueprint for a soft Brexit.

May's government says its critics have failed to present a viable alternative to her Chequers proposal.

Former Foreign Minister Boris Johnson, who quit his post in July over May's proposed divorce deal, said May should follow US President Donald Trump's lead and commit to rejecting new taxes in the wake of Brexit. On Wednesday, the ERG will put forward its own plan for resolving the Irish border question.

Andrea Jenkyns, who has submitted a letter of no confidence in May, told AFP the prime minister was "too dogmatic" to change course.

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