Liam Fox Slams Jeremy Corbyn's "Incoherent" Brexit Announcement

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"We have long argued that a Customs Union is a viable option for the final deal", Corbyn said in a speech at Coventry University in central England.

Mr Corbyn has insisted Britain be able to negotiate with third party countries alongside the European Union under his plan.

He won cautious praise from business and industry for his stance, and former Tory Chancellor George Osborne said the Labour leader had seized the political initiative.

"Ultimately, when the bill comes back to the House of Commons at report stage, we'll take a decision on which amendments we want to back then". While the Conservative government has reportedly told senior bankers it will put financial services at the heart of a new European Union trade deal, however, Corbyn's speech today implied that banks could be left in the cold if Labour is elected.

Dr Liam Fox said Labour voters would feel "betrayed" after Mr Corbyn announced his party would now look to remain in a customs union with the EU.

Staying in the single market which now allows free trade within the EU and with European Economic Area countries such as Norway would mean signing up to its "four freedoms", including free movement of people, paying into the Brussels budget, and submitting to the jurisdiction of the European Court of Justice (ECJ).

May at which she is expected to further clarify the party's position on Brexit.

What is less clear is how leaving the single market and customs union tallies with the UK's stated aim of having "frictionless trade" with the EU post-Brexit and not threatening the peace deal in Northern Ireland.

Britain must leave the EU customs union to strike new trade deals after Brexit, the country's trade minister said Tuesday, widening a major fissure within British politics over future trade relations with the bloc.

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Jeremy Corbyn has set up a high-stakes showdown with Theresa May by backing a "new and comprehensive" UK-EU customs union to ensure tariff-free trade after Brexit. To be clear, this has to be a Customs Union, not some form of looser customs arrangement. To avoid the return of a trade Border also requires the United Kingdom to agree to abide by the same rules and regulations - as set down by the Single Market. During the transition period, Labour would seek to remain in a customs union with the EU and within the single market.

U.S. President Donald J. Trump said past year that the world's largest economy is "working on [a] major Trade Deal with the United Kingdom" after Brexit.

Mrs May has ruled out any Customs union with the EU after Brexit because it would prevent Britain from striking new trade deals with fast-growing economies including China and India.

Finance professionals in the wealthy London borough of Kensington voted for Corbyn's Labour Party in June 2017 in the hope of averting hard Brexit under the Conservative Party.

"Labour would not countenance a deal that left Britain as a passive recipient of rules decided elsewhere by others".

"There is no such thing as a jobs-first Brexit and Corbyn himself has given the game away". Their view is that your either in the single market or you're out'. Anything else would be a betrayal of the European Union referendum result.

"It's part of a whole package of different approaches to different issues".

The Green Party's policy on Brexit is along the same lines as the Liberal Democrats: it wants a "ratification referendum" on the final deal negotiated with Brussels.

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