• Theresa May to sell pro-business Brexit Britain to global audience: Speaking at the UN General Assembly in New York on Wednesday, Theresa May will tell global business leaders that post-Brexit Britain will be “low tax” and “unequivocally pro-business”, as she seeks to attract investment from around the world. She will notably pledge that the UK will have the lowest rate of corporation tax in the G20, with corporation tax set to fall to 17 per cent by 2020, under plans set out in the Conservative manifesto. (The FT)
  • EU steps up plans for no-deal Brexit as Labour stance alarms capitals: The EU is intensifying its preparations for a no-deal Brexit, a leaked document reveals. This document states “Preparedness work has to intensify in the months ahead at national as well as EU level, as uncertainty remains about the outcome of the negotiations and the ratification of a possible deal.” By way of context, Corbyn has confirmed that unless the agreement struck in Brussels can deliver “exactly the same benefits” as membership of the single market and the customs union, Labour would vote it down. (The Guardian)
  • Brexit border delays could bankrupt 10% of firms, survey claims: In a survey conducted by the Chartered Institute of Procurement & Supply (CIPS) with 1,075 UK firms and 143 EU businesses, 10% of firms answered that they believed their businesses would likely go bankrupt if goods were delayed at the border by between 10-30min. This increased to 14% for delays of 1-3hr, and 15% for 12-24hr. Note that UK businesses have started to take steps to mitigate the risk of such delays: 24% of UK businesses are planning to stockpile goods in the future, 21% are building more flexibility into contracts and another 21% are looking for alternative suppliers outside the EU. (The Telegraph – details on the survey here)
  • UK Brexit proposal would spell ‘end of Europe’, says Le Maire: French minister warns EU cannot support blueprint that would weaken bloc and explained that the Chequers plan crossed “red lines” for the French government, saying an “agreement that deals just with goods is not feasible”. Mr Le Maire said the French government was working to prepare for the potential of a hard Brexit, including guaranteeing supplies to small companies. (The FT)