Brexit

Leaked documents show the worst Brexit scenarios

A confidential report prepared for the British government and leaked on Monday suggests all UK industries will be hurt by leaving the European Union, Buzzfeed News reported.

The paper, EU Exit Analysis – Cross Whitehall Briefing, is dated January 2018, and looks at three of the most plausible Brexit scenarios based on existing EU arrangements.

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UK: benefits of international students add £20 bn to economy

International students are worth about 10 times more to the UK economy than they cost the taxpayer, according to a new report that will add to pressure currently mounting on the country’s government for a shift in policy on the issue.

The analysis, which, unlike most similar studies in the past, looks at the cost of hosting overseas students as well as the benefits, calculates the bill at £2.3 billion, including use of the NHS and other public services.

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Bank of England will allow EU Banks to operate as normal after Brexit

The Bank of England will allow European banks to continue selling their services in the UK without having to create expensive subsidiaries after Brexit, even if no divorce deal is struck between London and Brussels, the BBC reported.

The Bank of England will not force European-based investment banks to ringfence their capital and liquidity. It will mean EU banks operating through UK branches can continue without creating subsidiaries – where they are compelled to hold their own substantial reserves in the event of a financial shock, essentially becoming UK companies.

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Brexit deadline for UK and Prime Minister May

The EU has declared there is still "no white smoke" over a Brexit deal and handed Theresa May a 72-hour deadline to make an acceptable offer. Michel Barnier has informed EU member states that Britain has just 48 hours to agree on a potential deal on the first phase of Brexit talks for talks to move onto trade and transition before 2018.

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