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EU agrees to UK’s Brexit terms

Theresa May faces her biggest challenge to get Brexit deal through cabinet.

Brexit vote delay causes fury, May back to square one

The UK could sign a divorce deal with the European Union today if Prime Minister Theresa May succeeds at persuading her divided Cabinet to back it.

The Pound initially strengthened by more than 1 per cent yesterday, 13 November, after news Brussels agreed to Britain’s Brexit terms, including a way to avoid a “hard border” between Northern Ireland and the Republic of Ireland.

However, Eurosceptics and members of the Democratic Unionist Party (DUP) warned they would vote the deal down. The news reversed the gains in Sterling, which is hovering close to 1.2950 against the greenback.

In positive news for UK workers, wages have risen at the fastest pace since 2008, according to the Office for National Statistics (ONS). However, the unemployment rate also rose to 4.1 per cent. In addition, with Brexit drawing closer, the number of EU workers fell by its largest number in September, which suggests Britain is becoming less appealing for work.

In Europe, German inflation rose at its quickest pace in over a decade in October, according to data from the Federal Statistical Office (Destatis). The Consumer Price Index rose by 2.5 per cent year-on-year compared to 2.3 per cent in September. And in UK inflation data, prices had risen by 2.4 per cent in October.

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