The FTSE 100 fell 0.7% to 6,947 as Brexit fears, the US tech sell-off and trade war concerns weighed on investor sentiment. In other parts of the world, stock markets suffered a bigger setback. In Germany, the DAX declined 1.6% to 11,066 while on Wall Street, the Dow Jones slid 1.5% lower to 24,627 at around 4:45pm UK time. Brent crude oil slumped 5.2% to $63.31 per barrel as the market worried about increasing supply.

Dominic Raab: ‘Theresa May’s Brexit deal is worse than staying in EU’

Brexit news: Mr Raab insisted May’s deal would leave Britain with “no voice, no control” over trade (Image: BBC•PARLIAMENT TV)

|AIWA! NO!|Dominic Raab says Theresa May‘s Brexit blueprint is “even worse” than remaining in the European Union amid pressure on the prime minister from all sides.

‘No voice, no control!’ Dominic Raab outlines why May’s Brexit deal NOT best for Britain.

‘We would effectively be bound by the same rules but without the control or voice over them,’ says ex-Brexit secretary

The former Brexit Secretary insisted the proposed agreement would give Britain “no voice” over laws regulating the future economic partnership while the backstop is in place.

Speaking to the Today programme, Mr Raab said: “I always play the issue not the individual. We would lose control of our laws. It is highly unlikely the economic partnership would be enforced, the EU knows this and they indeed have control over that process.

“What they really want is lock us in the same rules. We would have no voice, no control, over their formulation. We would have to kowtow to them. That’s a massive undermining of our competitive advantage.”

During the transition period, Britain will also have to follow all the European Union rules and European Court of Justice (ECJ) rulings. Should the backstop be triggered, disputes will be resolved by an arbitration panel made up of both sides – but interpretations of EU law are referred to the ECJ.

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Crimson Tazvinzwa


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