In a statement today Theresa May doubled down on her Chequers plan stating that a Norway option or a customs border in the Irish Sea are not acceptable.
In a statement from inside Number 10 she said both options were a bad deal.
She stated that both sides want a deal but the negotiations were always going to be tough. She said the EU and UK were still apart on key issues.
She hit out at the EU’s attitude in negotiations. Stating they had made no explanation on why Chequers was unacceptable and that no counter proposals had been offered.
Chequers would have seen the UK have free movement of goods with the EU but this was rejected as it would undermine the single market.
She reassured EU citizens that in the event of No Deal they would be allowed to stay and their rights protected. She also reaffirmed her commitment to delivering no hard border between the Republic and Northern Ireland.
May stated the EU needs to move to get a deal.
The pound plummeted during her speech as Shadow Business Secretary Rebbecca Long Bailey noticed:
How to win friends and influence people….Theresa May today places the U.K. on a path to No Deal. She has failed to win the support of Parliament, the EU, and even her own party, and now threatens the future of businesses and communities across the U.K. https://t.co/zOCxmQO26I
— Rebecca Long-Bailey (@RLong_Bailey) September 21, 2018
Markets believe a No Deal scenario is now more likely. Key Labour figures including Angela Rayner called for the PM’s resignation
It is clear from the start when our PM told the EU that she was going to be a ‘bloody difficult woman’ that things were not going to go well. That performance at Downing Street proves to me why negotiations have failed & she has put our whole economy at risk. She should resign.
— Angela Rayner (@AngelaRayner) September 21, 2018
Mrs May now faces a challenge to get the EU to soften its position whilst fighting off ERG rebels back home. A general election looks rather likely.