Thursday, 17 October, 2019

UK will leave the EU on October 31: finance minister Javid says

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Travis Berry | 01 October, 2019, 10:26

The United Kingdom will leave the European Union on October 31, hopefully with a deal, Chancellor of the Exchequer Sajid Javid said on Monday.

He told MPs: "I would note when it comes to some of the more outlandish speculation in this area that Frances Coppola in the Financial Times, in an article entitled "The mythical bets on no-deal Brexit", said yesterday "this is yet another a tin-foil-hat conspiracy theory" - and frankly I think that is about the sum of the merit of this debate".

Speaking at his party's annual conference in Manchester a month before Britain is due to leave the EU, Javid said he had asked his department to prepare a comprehensive economic response, working with the Bank of England.

The Chancellor Sajid Javid is expected to announce the creation of two "all-electric bus towns" as part of a £220m package of funding to overhaul bus services.

Britain's government accused the opposition Labour Party of "trying to propagate myths" by suggesting a possible conflict of interest between Prime Minister Boris Johnson's stance on Brexit and hedge funds betting against sterling.

"Investment in our infrastructure will be key to making the next decade one of renewal - boosting our economy and making life easier for people all across the country", Javid will say, according to advance extracts of his speech. "We're taking a careful look at that law, but we are also very clear that our policy has not changed - we will leave on October 31st", he told the BBC.

PM Modi presents framed photograph from #HowdyModi event to President Trump
The unexpected attendance came almost two years after the Trump administration pulled out of the 2015 Paris accord in 2017. Besides, the President also retweeted the tweet of MEA spokesperson Ravish Kumar and called the event "incredible".

The Government will also set a goal for contactless payments to be made available on every city bus.

After almost a decade of deficit-reducing spending cuts under a Conservative-led government, the recently appointed Javid, a 49-year-old free markets advocate, has promised to rewrite the rules that underpin spending.

"If there were to be some dodge that the government would try to introduce, I think we could counter it".

The new framework is expected to allow higher levels of state-funded infrastructure investment. "But the work must start here and now", he will say.

Meanwhile, opposition MPs are in the House of Commons and will be discussing how to prevent a no-deal Brexit, having dismissed a motion to grant a three-day recess to accommodate the Tory party conference.

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