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European Union and United Kingdom adopted the agreement on Brexit

28 November 2018, 01:00 | Tara Lloyd

May defends draft Brexit deal

A UK government report on Nov 28 2018 said gross domestic product will be as much as 10.7 per cent lower over 15 years if there is no orderly exit and the supply of workers from the bloc dries

UK Prime Minister Theresa May has managed to get European Union leaders to sign off on her Brexit deal, but as it stands the draft withdrawal agreement is expected to cost the UK economy around £100 billion each year by 2030, according to new report by the National Institute of Economic and Social Research (NIESR). And that wouldn't be a good thing.

Responding to Mr Trump's comments, a spokeswoman for the prime minister said that under the existing Brexit agreement the United Kingdom will be able to sign trade deals.

If Britain leaves the European Union in March with no deal, but with some agreements to avoid major disruption to trade and travel, the economy will be 5.5 percent smaller by 2030 than under continued European Union membership, NIESR estimated.

A Labour spokesman said: "Jeremy would relish a head-to-head debate with Theresa May about her botched Brexit deal and the future of our country".

The groundwork for an "ambitious" agreement with the U.S. has been laid in five meetings of joint working groups, the spokesman said.

May argues that it delivers on voters' decision to leave while protecting jobs and businesses through continued close ties with the European Union - achieved by continuing to adhere to European Union rules and standards in many areas.

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MPs are expected to vote on the deal in just more than two weeks, with up to 90 of May's own Conservative Party members threatening to rebel against it.

"To do that we need to get on with Brexit now by getting behind this deal", she wrote.

The vote in parliament is scheduled for December 11.

This has been scheduled for December 11 and between then and now the Tory leader will try to build support for what she yesterday described as the "right deal for Britain".

The MP for Sevenoaks, until now seen as a May loyalist, told BBC Radio 4's Today programme: "My fear is that this deal gives us the worst of all worlds - no guarantee of smooth trade in the future and no ability to reduce the tariffs that we need to conclude trade deals with the rest of the world".

The Brexit secretary, Stephen Barclay, told reporters on Monday that if MPs voted down the deal "we go into uncharted waters".

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"It would open the door to more division and more uncertainty, with all the risks that will entail", she will warn lawmakers.

All opposition parties, including the Democratic Unionist Party, which props up her minority government, have also pledged to oppose the deal in the Commons. Forged during 17 months of tough negotiations, the withdrawal agreement covers financial matters, citizens' rights, Northern Ireland and arrangements for a 21-month post-Brexit transition phase.

Her spokesman declined to confirm or deny reports that Number 10 is considering a possible TV debate with Mr Corbyn, something the Labour leader has made clear he would relish.

The report, written with the help of more than a dozen USA government agencies and departments, said the effects of climate change would harm human health, damage infrastructure, limit water availability, alter coastlines and increase costs in various industries.

"I can say with absolute certainty that there is not a better deal available", May said.

The European Court of Justice is assessing the issue under an accelerated procedure, since Britain is due to leave the bloc on March 29.

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