• Small businesses will be disproportionately affected by a ‘no deal’ Brexit, and the majority are facing higher costs if the UK cannot reach an agreement with the EU ahead of its departure from the bloc, according to a new report. If the UK ends up with no deal, it will be forced to trade with the EU under World Trade Organisation rules, which would mean an increase in customs checks. (Independent)
  • Theresa May will urge President Emmanuel Macron this week to soften France’s stance on Brexit or risk a chaotic UK departure from the EU that would cost Europe jobs and stem the flow of finance from London to the continent. Downing Street regards France as the biggest obstacle to a Brexit agreement, with ministers privately warning that Mr Macron believes he can extract financial services jobs and investment from London to Paris if he strikes a hard deal. (Financial Times)
  • The Brexit process is currently “heading for no deal by accident”, the foreign secretary, Jeremy Hunt, has said during talks in Austria, stepping up his warnings about a potential collapse in talks. Speaking in Vienna, Hunt said a no-deal Brexit would “have a profound impact on the relations between Britain and EU countries for a generation”. It would, he said, be a “huge geo-strategic mistake”. (The Guardian)
  • Theresa May’s Brexit plan will cost people £500 per year, economists are warning – while a no-deal departure would impose an £800 bill. The National Institute of Economic and Social Research has made the first calculation of the price of the prime minister’s Chequers proposals, which would weaken economic ties.(Independent)