Please see below for today’s update on key Brexit news items:

  • Theresa May has confirmed that her team is ready to start the Brexit talks next week. Previously, the UK government had been hoping for an initial round of “technical discussions” between officials before the negotiations began in full. However, bowing to pressure from EU leaders, who have insisted on a ministerial presence, May has agreed the talks can begin on Monday. (The Guardian)
  • The Commission has published proposals that could force London’s euro-clearing trade to move to the continent following Brexit. The plans give the EU greater oversight and the power to compel “systematically important” firms to move to the continent in the name of protecting financial stability. London is currently the global centre of euro-clearing, processing transactions worth about €1tn a day. (The Guardian)
  • Trade body ADS has warned that failure to secure a good Brexit deal will be chaotic for the aerospace industry. UK aerospace companies’ combined turnover rose to £31.8bn last year, placing it behind only the US. ADS wants Britain to remain within the single market, a continuation of current free movement of goods and staff, and to a retain a voice in regulation of the sector. The imposition of red tape from customs borders and limitations on staff from immigration controls could make the UK a less attractive prospect for aerospace projects in the long term. (The Telegraph)
  • French President Emmanuel Macron has said the possibility of the UK remaining in the European Union is an option until Brexit negotiations have concluded. He echoed the words of German Finance Minister Wolfgang Schaeuble, who has also previously said the UK could change its mind about Brexit. (BBC)
  • David Cameron has said that Theresa May should adopt a softer Brexit, in collaboration with the Labour opposition. Mr Cameron told a business conference in Poland that the result should force the prime minister to listen to other parties on how to leave the EU. Mr Cameron also cited comments by Ruth Davidson, the Scottish Conservative leader, who has called for “an open Brexit”. (Financial Times)