Published: Sun, April 07, 2019
Finance | By Loren Pratt

Hammond 'optimistic' on reaching Brexit agreement with Labour

Hammond 'optimistic' on reaching Brexit agreement with Labour

"Let's be clear: More fudge and a further dilution of Brexit is not the answer".

Now, May has called in Jeremy Corbyn, leader of the opposition Labour Party, for talks on a way forward in the hope that a joint agreement will be passed by Parliament. He also didn't exclude the prospect of another round of indicative votes at the House of Commons next week, though he signaled this will depend on the outcome of the discussions between the UK's two biggest parties.

The Sunday Telegraph reported that Conservative activists are refusing to campaign for the party and donations have "dried up" because of Mrs May's leadership.

This forces her into a deal with Northern Ireland's hardline Democratic Unionist Party - just as the issue of the Irish border emerges as the main point of contention in negotiations with the EU.

Cross-party Brexit talks between the Tories and Labour have reportedly broken down due to a lack of willingness to compromise from the government. The Labour Party said late Friday that progress had been slow, because May had been reluctant to make firm commitments to change her Brexit deal.

Labour has called for any departure deal to ensure the protection of the "exact same benefits" as the United Kingdom now has as a member of the EU's single market and customs union.

Labour leader Jeremy Corbyn has been told by a third of his MPs that he must secure a fresh referendum in any Brexit deal he reaches with Theresa May.

Prime Minister Theresa May has yet to move the "red lines" that have blocked a deal for Britain to leave the European Union, opposition leader Jeremy Corbyn said on Saturday, after May launched talks with him in a last-ditch bid to save Brexit.

They've been attempting to reach an agreement that could win the support of a majority in parliament.

He also signaled optimism about next Wednesday's European Union summit, saying most European Union states agreed on a need to delay Brexit.

The UK is now scheduled to leave the European Union on April 12, with British legislators' failure to agree on any scheme for exiting the 28-member bloc raising the possibility of a so-called "no-deal" departure - something May and her European Union counterparts are keen to avoid. Business leaders and economists have warned of chaos in the event of a no-deal Brexit.

Tusk had suggested a year-long extension, before May's suggestion was made.

Many within the Conservative Party are increasingly anxious that any delay obliging Britain to again take part in elections for the European parliament on May 23-26 would be deeply divisive.

"Most of the colleagues that I am talking to accept we will need longer to complete this process", Hammond told reporters in Bucharest.

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