Sterling has dropped 1.1 per cent to 1.28 against the dollar after two ministers have resigned over Theresa May’s Brexit draft agreement.
Shailesh Vara, the Minister of State at the Northern Ireland Office, resigned first saying that the
Brexit draft agreement would ‘leave the UK in a half-way house’. The North West Cambridgeshire MP added: “I have quit because I don’t believe this is the right agreement for our country.
“You have to ask yourself, given the reluctance from the EU for us to leave in the first place and given we are 18 months down the road and in four months’ time it will be almost two years since we triggered the process for us leaving, they are [still] not keen on us leaving and we could be locked in for many, many years.
“The EU have made it absolutely clear that they prefer the slow approach, they have made it absolutely clear they don’t want us to leave and for us to tie ourselves up to a mechanism where we are not in control is, I think, not in the interests of the country.”
Agreement has been reached between the UK and EU on the Irish border.
Brexit Secretary Dominic Raab has also resigned, and said the border proposal “presents a very real threat to the integrity of the the UK”.