Theresa May has insisted "no deal is better than a bad deal",

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DATE: Oct. 2, 2017, 6:36 a.m.

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  1. indicating the UK would leave the EU and rely on World Trade Organisation rules after Brexit if what is on offer from Brussels proves unacceptable.
  3. But crossbench peer Lord King of Lothbury - who led the Bank for a decade until 2013 - said the UK needs to be better prepared for a "no deal" Brexit to show Brussels there is a "credible" alternative should negotiations fail.
  5. He told BBC Radio 4's Today programme: "This ought to be something that people ought to be able to agree on, irrespective of whether they are in favour of Brexit or not, because we are where we are, and we are in a negotiation and it's important that the negotiation succeeds.
  7. "But it cannot succeed without a credible fallback position and that is something which I think is a practical thing that the civil service ought to be taking a lead on.
  9. "It's a do-able proposition if we start now. We've probably wasted a year, but we need to be much further along the road to making that a credible fallback position."
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  14. He added that failing to agree a deal with Brussels was "not the first preference of anybody", but more work needed to be done if the EU was to be convinced the UK was serious about walking away.
  16. Brexit minister Steve Baker has confirmed the Government is preparing for all outcomes of the Brexit talks, including the "unlikely" scenario of failing to strike a deal with Brussels.
  18. READ MORE
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  20. Ireland's PM tells Theresa May to strike Norway-style Brexit deal
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  22. The Irish question in the Brexit negotiations won't be easy to answer
  23. Divorce discussions are due to restart within weeks but progress so far has been slow with Brussels demanding concessions from Downing Street on the issue of EU citizens' rights in the UK after Brexit.
  25. Earlier this week, the Institute of Directors called on the Government to consider extending the two-year Article 50 negotiating period to avoid a chaotic Brexit the country is unprepared for.
  27. The body said it is the "simplest solution" to ensure there are no cliff edges for businesses to deal with as the UK moves to new trading arrangements with the European Union.
  29. More about: Theresa MayBrexitMervyn KingArticle 50
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  58. COMMENTS
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  60. 665 Comments
  61. SubscribeRSS
  63. 54 days ago
  64. Korrigan
  65. the EU does not give a damn about the UK.It pretty much a relief as the UK was always winging to have bit and pieces.So bye bye! See you in the few years!the sooner the better!it will be very painful but the brextards will see their pain!and bloody hope so!
  66. ReplyShare0
  68. 55 days ago
  69. Joe Hamilton
  70. Sadly we replaced this wise man with a silver-tongued house price pumping Canadian at the Bank of England.
  72. From the beginning it should have been completely clear that the UK government was planning for a no-deal on trade. What a strong negotiating position this would have given us too.
  74. The current shambles is so bad I wonder if it's deliberate and the plan is to ditch Brexit completely at some point (even if it means a change of government)
  76. ReplyShare1 reply0
  78. 34 days ago
  79. Athoughtor2
  80. This "wise man" supported the worst policy Britain has ever followed and is now looking for scapegoats to explain his lack of understanding. Like all Brexit supporters in high places a fool or a liar.
  81. ReplyShare0
  83. 56 days ago
  84. Joeys Jorler
  85. At last! Somebody who is not fooled by all the anti Brexit doom sayers. As an exporter to over 60 countries worldwide both in and out the EU I voted for and want a totally hard WTO Tariffs, Brexit outside of the Customs Union. It is obviously what's best for Britain but the EU is terrified of it because it will affect them more than us which they will NEVER admit!
  86. ReplyShare3 replies-2
  88. 56 days ago
  89. RightLeft
  90. LOL! You're flogging a dead horse, mate. Nobody is listening to your BS anymore.
  92. It's now clear to most people that a hard brexit will be a disaster for our economy no matter how you put the spin on the idea.
  94. We're heading for a soft brexit, pal, deal with it.
  95. ReplyShare+1
  97. 54 days ago
  98. Korrigan
  99. yea buy a new brain!probably not a new one cause of brexit maybe a US one!
  100. ReplyShare0
  102. 34 days ago
  103. Athoughtor2
  104. You are not what you say you are. By the way the EU offers deals with about 80 other countries now. We will have none except WTO.
  105. ReplyShare0
  107. 57 days ago
  108. The Middle
  109. Britainistan not prepared for a hard Brexit, warns former BoE Governor
  110. ReplyShare+1
  111. This comment has been deleted
  112. 3 replies
  114. 57 days ago
  115. JackJacksonFromJacks­onville
  116. They are also not saying it's a GOOD idea.
  118. I disagree with your analysis of what they said.
  120. One said "the Government had wasted a year and should be much "further along the road" of planning what to do if negotiations with Brussels fail."
  122. The other said "the UK needs to be better prepared for a "no deal" Brexit to show Brussels there is a "credible" alternative should negotiations fail."
  124. and also said "We've probably wasted a year"
  126. So they are both saying "we have no plan, we're wasting time and it's going to be a disaster if we don't get one within the time frame that WE created by submitting Art 50"
  128. ReplyShare1 reply+1
  130. 57 days ago
  131. The Middle
  132. I disagree too, he spelled "to" wrong when in fact it should have been "too"!
  133. Share0
  136. 57 days ago
  137. MacTurk
  138. Absence of evidence is not evidence of absence....
  140. Stop putting unsaid words into the mouths of people you believe should agree with you.
  141. ReplyShare0
  142. This comment has been deleted
  143. 1 reply
  145. 57 days ago
  146. JackJacksonFromJacks­onville
  147. "This is YOUR decision. The government will implement what YOU decide." Obviously an incorrect statement.
  149. "to give the decision on whether to stay or leave to THE PEOPLE" Also not true. Some people were disenfranchised - including ironically people who lived abroad who were the ones most affected by this.
  151. "85% of people voted for parties with a hard Brexit in their manifesto's. That's a huge vote for a hard Brexit" I don't see it that way. I think People voted against the tories and the only viable way of doing that was to vote Labour - which they did. If the GE had REALLY been anything other than a repudiation of Brexit, the Tories would have won with a landslide ... which they didn't.
  153. Finally, when you say "showing a deliberate and obstinate desire to behave in a way that is unreasonable or unacceptable." you describe the Leave camp perfectly. Given the lack of planning for this enterprise, to want to continue down this path regardless of the consequences without taking any kind of checkpoint along the way is indeed 'perverse'
  154. ReplyShare+2
  156. 57 days ago
  157. pingpong
  158. Leaving a quite well working EU after more than 40 years, without any reasonable better alternative is prepared, is of course utter nonsense.
  160. When a Member of the EU, the UK made several commitments, on which basis money was invested and future projects agreed. The total sum has still to be worked out and agreed. It is reasonable for the EU to demand that the UK agrees to pay this before talking about any future arrangement. It is unreasonable if the UK thinks otherwise, and stingy to announce not willing to pay more than a certain amount before anything is agreed.
  161. ReplyShare1 reply+3
  163. 54 days ago
  164. Korrigan
  165. someone with brain!;-)
  166. ReplyShare0
  168. 57 days ago
  169. Veracity99
  170. Why are the Tories doing this?
  172. That's what you should be asking yourselves.
  174. What do they believe?
  175. ReplyShare+2
  177. 57 days ago
  178. JackJacksonFromJacks­onville
  179. I find the Leave camp very strange. I'm prepared to say I think one way and they think another and who knows who's really right? Who also knows what the state of the country will be in 2020? None of us really do, though we might think that we do.
  181. What perplexes me about the (general) attitude of the Leavers though is their acceptance of the lack of discipline, lack of ideas, cohesion basic plan etc exhibited by this current government. It doesn't seem to worry them.
  183. That doesn't make sense to me because if you really DID want something then it stands to reason that you'd want it done correctly - no matter what it is: building a house, repairing a car, hiring an employee. I just don't understand why "We'll be out and that's all that matters" is an acceptable position.
  185. I think there'd be a lot less friction if instead of submitting Article 50, this government had started to craft a pathway from Art 50 through to the actual leaving and THEN take a look at where they stood. As it is, all that's happening is that tensions are getting exacerbated in the country which is not good for anyone and has the potential to do more harm to the UK than The Blitz. At least the Blitz united us; Brexit is dividing us.
  187. To say No deal is in any way acceptable is just ... not acceptable - to either side
  188. ReplyShare7 replies+5
  190. 57 days ago
  191. Mike G
  192. Exactly. Brexit would have been possible, if carried out at the end of say 5 years preparation.
  194. Instead, what we are seeing is institutionalised stupidity in action. Brexiters are ideological fanatics, just like Stalinists and Trotskyites, unfortunately. They have the same capacity to ignore what is going on right in front of them, and the effects on ordinary people, all for the sake of a glorious future which does not exist.
  195. ReplyShare1 reply+4
  197. 57 days ago
  198. Veracity99
  199. Ask yourself why they are doing this.
  202. Share+2
  204. 57 days ago
  205. tsar74
  206. I could not agree more.
  207. ReplyShare0
  209. 57 days ago
  210. Veracity99
  211. No deal is acceptable to both sides. Not ideal for the eu, ideal for the tory fanatics:-
  213. The Tories are forcing a massive economic experiment on the uk and they are getting their way by covert means.
  215. The point of Brexit is laid out very clearly in "Britannia Unchained," written by Priti Patel, Kwasi Kwarteng, Dominic Raab et al - it's to "unchain' Britain from EU worker's/workplace regulations/comparable taxation so that - as Patel puts it; "lazy British workers will be made to compete with Indian workers."
  217. They want to cut taxes, wages and regulation to the point that we're basically the Caymans without the sunshine. Mass poverty isn't a negative factor to them; it's only a "necessary" part of the "vision."
  219. https://en.m.wikipedia.org/wiki/Britannia_Unchained
  221. There's also Patrick Minford's influence and the crazy proposal of unilateral free trade.
  223. The Tories are determined to have their way.
  224. ReplyShare1 reply+3
  226. 57 days ago
  227. ParcelOfRogue
  228. Thank you for that link. Priti Patel has been quite coy in her public sayings so far.
  229. Share+1
  231. 57 days ago
  232. willowandy
  233. They believe in the idea of "creative destruction"?
  234. ReplyShare1 reply+1
  236. 57 days ago
  237. Veracity99
  238. They think it's better for the country and will make us more efficient.
  239. Share0
  242. 57 days ago
  243. BillDoz
  244. BREXIT HAS FAILED ALREADY but brexiteers are in denial. All pathetic Brexit promises have failed so far, but now they say: "let's just leave for the heck of it." Just because of a weak, not legally binding, opinion pool that has divided the country right in the middle. No one has to respect Brexit. BREXIT HAS TO DIE.
  245. ReplyShare5 replies+4
  246. This comment has been deleted
  247. 5 replies
  249. 57 days ago
  250. captainSchlong
  251. Nah mate.
  252. Share0
  254. 57 days ago
  255. JackJacksonFromJacks­onville
  256. LOL - You just agreed with him
  257. Share+2
  260. 57 days ago
  261. Ameria
  262. Yes the UK is going to leave but that doesn't mean it hasn't already failed because it has.
  263. Share+1
  265. 57 days ago
  266. Mike G
  267. Why are we leaving?
  269. You brextards. can never think of a reason.
  270. Share+2
  273. 57 days ago
  274. MacTurk
  275. This, in reality, translates as "Let's double down on the stupidity!"...
  276. Share0
  277. Show more comments
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