• Philip Hammond has said he welcomes the opportunity to work with other parties to reach a consensus on leaving the EU, as he dismissed reports of colleagues briefing against him. Confronted with reports that he is prepared to champion a longer transition period for Britain to remain in the tariff-free single market, the Chancellor said he welcomed the opportunity to work with other parties on Britain’s exit from the bloc. Chris Leslie, a leading supporter of a soft Brexit and a former shadow minister, pointed to recent analysis from the Office of Budget Responsibility, the UK’s fiscal watchdog, which he said indicated that a hard Brexit “presents the biggest threat to our national debt”. (Independent)
  • The author of the Article 50 clause that allows Britain to leave the EU has called for the Brexit process to be halted, saying that the “disastrous consequences” are “becoming ever clearer”. John Kerr, the former diplomat, is one of dozens of prominent Scots to sign an open letter urging a pause and a rethink. “In a democracy, it is always possible to think again and to choose a different direction. We need to think again about Brexit, to have a UK-wide debate about calling a halt to the process and changing our minds.” says the letter, whose other signatories include the former defence secretary George Robertson, the software entrepreneur Ian Ritchie, and the historian Tom Devine. (FT)
  • Record levels of employment will fail to prevent the economy’s growth rate slowing this year and next during a period when consumer spending will be squeezed by rising inflation and falling living standards. PwC said action by the chancellor, Philip Hammond, in his autumn budget would help offset weaker household spending and delayed investment by firms anxious about Brexit. But it said the economy’s growth rate was still expected to dip from 1.8% in 2016 to 1.5% this year and to 1.4% in 2018. John Hawksworth, the chief economist at PwC, said: “Brexit-related uncertainty may hold back business investment, but this should be partly offset by planned rises in public investment.” (Guardian)
  • City analysts believe there will have been a pause in June in the steady increase in the cost of living to 2.9% in the 12 months since the EU referendum, but most believe the respite will prove temporary. Inflation was running at 0.6% when the UK voted to leave the EU in June 2016 but it has risen subsequently as a result of higher oil prices and dearer imports caused by the 12% decline in the value of the pound over the past 12 months. That has taken the annual inflation rate to its highest level in four years. (Guardian)
  • Public safety could be threatened unless the government “gets its act together” over data-sharing after Brexit, a former Met Police boss says. Lord Condon said it could become “much more difficult” for police to share information with EU counterparts unless transitional arrangements are made. He sits on a Lords committee that has called for guarantees that the UK will continue to meet shared standards. It said private firms could also be affected by a “cliff edge” scenario. (BBC)