Published On: Thu, Nov 29th, 2018

BREXIT LIVE: May’s Brexit on the BRINK – the 12 she MUST win over – REVEALED

The Prime Minister has received a boost with Eurosceptic and ‘pizza plotter’ Andrea Leadsom throwing her support behind the deal but the PM has much more to do. In a key reversal of opinion, the Leader of the House of Commons is now backing the withdrawal agreement ahead of a commons vote on December 11. It was a welcome boost in a difficult week for Mrs May.

Brexit Live

May day?: Steve Baker (left) and Dominic Raab are on list of MPs to watch ahead of vote on May deal (Image: Getty)

Yesterday, Bank of England governor Mark Carney was accused of stoking “project hysteria” after publishing an analysis of a no-deal Brexit’s impact of Britain’s economy.

Critics rounded on Mr Carney’s “doomsday” scenario, with the governor claiming the UK faces the worst recession since the Second World War.

Under Mr Carney’s worst-case analysis, property prices would plunge by almost a third, the pound would dip below parity with the dollar and interest rates would soar.

One minister branded it “bonkers”, while ex-Bank of England monetary policy committee member Andrew Sentance attacked the analysis as “highly speculative and extreme” while Jacob Rees-Mogg attacked the Bank of England’s analysis as “hysterical”.

Mark Carney

Bank of England chief Mark Carney hits back at critics of his Brexit analysis (Image: Getty)

8.50am update: Carney warns UK “not ready” for Brexit no-deal

But Mr Carney also warned  large parts of the UK economy are not ready for a no-deal Brexit.

He told BBC Radio 4’s Today programme: “All the industries, all the infrastructure of the country, are they all ready at this point in time?

“And, as best as we can tell, the answer is no.

“We know issues around the borders, we go to the ports and we know the issues that are there today. So we need some time to get ready for it.”

8.32am update: Mark Carney defends Brexit analysis after critics savage ‘PROJECT HYSTERIA’

Bank of England chief Mark Carney has defended his Brexit forecast on BBC Radio 4’s Today programme.

The bank’s analysis, published yesterday, has been attacked as stoking “project hysteria”. but Mr Carney vowed the financial system is ready to withstand any economic impact caused by Brexit.

Mr Carney also backed a transition period between the EU and the UK once Britain exits the bloc on March 29, 2019.

Mr Carney said: “If you a chief executive of a company like Nissan, part of your responsibility is to think about the worst case and prepare for the worst case.

“In the case of Brexit we look at everything that could go wrong.”

He added: “It is in the interests of the country to have some time to transition to whatever relationship there is.”

The financial system will be there for the British people whatever form of Brexit takes, Mr Carney vowed.

Arlene Foster

Arlene Foster claims Theresa May’s Brexit deal will “impose” EU rules on Northern Ireland (Image: Getty)

8.16am update: DUP’s Foster won’t cross May’s Brexit RED LINE

DUP leader Arlene Foster has again hit out at Theresa May’s Brexit plan, labelling it a “red line”.

The Northern Ireland leader has already warned her ten MPs will not vote for the withdrawal agreement when it is put before the Commons on December 11.

Under a backstop arrangement, Northern Ireland would be temporarily tied to EU single market regulations, as well as remain under EU customs rules with the rest of the UK.

Mrs Foster said: “All the things that made us vote for Brexit are the things that are going to be imposed on Northern Ireland.”

Jacob Rees-Mogg

Jacob Rees-Mogg attacks Mark Carney’s “project hysteria” Brexit analysis (Image: Getty)

This is Project Hysteria. The Bank of England has gone from being discredited to being hysterical

Jacob Rees-Mogg

7.52am update: Twelve Brexit MPs May must watch

Dominic Raab tops a Politico guide of MPs to watch in the run-up to the December 11 vote.

The former Brexit Secretary believes a Brexit no deal could be “mitigated and managed”, but wants “modest” changes to the Northern Ireland backstop exit mechanism to avoid a hard border.

Michael Gove is also seen as key in deciding the fate of Mrs May’s withdrawl agreement when it goes to The Commons.

The full list is: 1. Dominic Raab. 2. Michael Gove. 3. Lisa Nandy. 4. Andrea Leadsom. 5. Steve Baker. 6. Jeremy Corbyn. 7. Keir Starmer. 8. Nick Boles. 9. Stephen Kinnnock 10. Nicky Morgan. 11. Sylvia Hermon. 12. Stephen Getöns.

7.35am update: Security minister to warn of no-deal Brexit

Security Minister Ben Wallace will warn of the risks of a no-deal Brexit at a conference today.

Crashing out with no deal would have a “real impact” on security relations between the UK and the EU, he will caution.

And transport Secretary Chris Grayling has announced a post-Brexit ”open-skies” deal with the US.

The agreement guarantees flights to and from the US will continue once the UK leaves the EU. 

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