Brexit deal can still be voted through, Theresa May will tell EU leaders
Theresa May will insist to EU leaders that her defeat in parliament on Thursday does not change her belief that her Brexit deal can still achieve a majority – as long as there are changes to the backstop.
May is likely to head to Brussels next week after another crushing defeat in parliament inflicted by Eurosceptic backbenchers, as well as speaking to more EU leaders over the weekend.
High street discounts boost struggling retailers as Brexit nears
High street discounts in the January sales helped drive a strong recovery in UK consumer spending last month in a sign that British consumers shrugged off mounting fears over Brexit.
Cost of Brexit to UK economy running at £40bn a year – Bank rate-setter
The cost of Brexit to the British economy is running at £40bn a year and a damaging no-deal scenario could force an emergency cut in interest rates, according to a Bank of England rate-setter.
Gertjan Vlieghe, a member of the Bank’s monetary policy committee, said that since the vote in June 2016, the economy had lost about 2% of GDP compared with a scenario where there had been no significant domestic economic events.