Confederation of British Industry (“CBI”), a lobbying group, warns Tories over no-deal Brexit (BBC)

  • In an open letter to the Conservative leadership candidates, CBI warned about the severe “short-term disruption and long-term damage to British competitiveness” in the event of a no-deal Brexit.
  • The CBI warned that “the vast majority of firms can never be prepared for no-deal, particularly our [small and medium-sized] members who cannot afford complex and costly contingency plans.”
  • At least half the leadership candidates say they are prepared (and some state it is their objective) to leave without a deal.
  • Whilst business has traditionally been an important source of financial support for the Conservative Party, overall donations have plummeted in the first quarter of this year.

Jeremy Corbyn risks more damage to the Labour Party if he keeps delaying backing second referendum (FT)

  • A YouGov poll asking people how they would vote in a general election put the Liberal Democrats first (24%), the Brexit Party second (22%) and the Conservatives and Labour tied third (19%).
  • This is the first time in a decade that the Liberal Democrats have led in a poll of this kind.
  • Corbyn has said a second referendum is “some way off” and that Labour still wants to negotiate a better Brexit pact, although Labour has not had a consistent position in this regard.
  • The poll shows that less than 50% of people who voted Labour in 2017 now support the party and 43% are supporting pro “People’s Vote” parties (i.e. in favour of a second referendum).