The pound is down against the euro this morning, and yesterday figures were released showing British households are more and more cautious over major purchases. The HIS Markit Household Finance Index for August showed a three-month low of 43.7, with many pointing to worries over Brexit and the economy holding people back from spending.
Boris Johnson has written to European leaders proposing the ‘simply unviable’ Irish backstop to be replaced with a commitment to put in place alternative arrangements by the end of the proposed Brexit transition period, saying ‘The UK and the EU have already agreed that ‘alternative arrangements’ can be part of the solution. Accordingly: I propose that the backstop should be replaced with a commitment to put in place such arrangements as far as possible before the end of the transition period, as part of the future relationship.’
The Prime Minister also reiterated his commitment to leaving on 31st October, telling the press in Truro that they ‘will be ready to come out on October 31st, deal or no deal.’ Tomorrow, he will meet Angela Merkel in Berlin and, on Thursday, Emmanuel Macron in Paris, to attempt to change their positions. In September, he will also meet Leo Varadkar.
