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Brexit deal chances are "60 to 40"; Liam Fox blames EC intransigence

Brexit deal chances are

In an interview with the Sunday Times published on August 5th, Trade minister Liam Fox estimated a 60% chance of a no-deal Brexit taking place.

They'd also probably point to analysis by the International Monetary Fund which says Britain will see a 4% drop in GDP if no-deal happens, which means the total value of all the goods and services produced in the United Kingdom would drop by 4%.

"No deal would be a catastrophic failure of government, which no government should survive", he said.

Pro-EU Tories suggested that remaining in the single market was the best way to resolve the situation after the rejection of Mrs May's Chequers blueprint by Brussels.

Former minister George Freeman said that after the "failure of the 2016-18 Brexit Cabinet to plan, prepare for and negotiate a sensible, smooth and pro-business bespoke Brexit" more Tories were coming round to the view that an EEA/EFTA solution was necessary.

But the talks have stalled, and the British government is trying to heap pressure on the other 27 European Union nations to compromise by stressing the economic harm to all sides that would come from a "no-deal" Brexit that imposes tariffs and other barriers on U.K. -EU trade.




"I think the intransigence of the commission is pushing us towards no deal", he said.

Mr. Fox told the paper that he had not thought the likelihood of no-deal was higher than 50-50, but the risk had increased.

May on Friday cut short her holiday in Italy for a meeting with French President Emmanuel Macron.

The negotiations come at a delicate time for May, who in recent months has seen a string of resignations in her party over her Brexit plans - most notably Brexit secretary David Davis and foreign secretary Boris Johnson.

Meanwhile, another prominent Brexiteer, former minister Priti Patel, has called on Mrs.

Writing for the Telegraph's she said the United Kingdom was in a "strong position" when it came to a future trade deal because "we are dynamic, competitive and growing" - while the European Union "desperately needs our money".


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