Pound hits 27-month low as no-deal Brexit fears grow – business live | Business


There is a real end-of-term feeling in the Commons at the moment. John McDonnell, the shadow chancellor, gave Philip Hammond, the chancellor, what was effectively a leaving present in Treasury questions recently – a book of radical walks. Today Greg Clark, the business secretary, gave a model car to his Labour counterpart, Rebecca Long-Bailey. Clark handed over the gift after speaking about changes to the UK automotive industry and new electric vehicle projects.

Hammond and Clark are both expected to be sacked next week, largely because they are both firmly opposed to a no-deal Brexit. Boris Johnson and Jeremy Hunt, the two candidates left in the Tory leadership contest, insist no-deal must remain an option, and their comments about the backstop last night have made it even more probable.

2019-07-16 14:39:00

Read more from source here…