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Brexit: weekly news digest 17 Dec

This week, in Brexit news, we have seen a deferral of the Meaningful Vote in UK Parliament, the leadership challenge of the Prime Minister and a return to Brussels to firm up the backstop arrangements.

The continued uncertainty around whether the withdrawal agreement will be adopted through parliament has brought some strong business voices into the press.

Sir Richard Branson  has aired his fears of the UK economy being brought to ‘near bankruptcy’ if the UK leaves the EU without a trading deal, saying that a hard Brexit would ‘torpedo’ some of his group’s businesses.

Reuters are seeking a freedom of information request to publish a UK government issued letter of reassurance to Nissan’s Japanese investors.

The CBI note that businesses are underway with their Brexit no deal contingency plans  after the uncertainty of the week and no sign of a ratified deal.

Revolut, the UK fintech firm, has applied successfully for their European banking licence to ensure it is still able to trade in no banking agreement is reached.

And Bloomberg reports that employers are looking to cover their employees’ costs of applying for settlement status, post Brexit, to encourage them to stay in the UK and in their roles.

The Guardian tracks the weakening of the Pound  against the Dollar as the Prime Minister struggles to get further resolutions in Brussels.

And this week brought the CJEU ruling  that the UK would be able to revoke Article 50 without other EU state permissions, which paves the legislative path for the possibility of a second referendum.

To understand how the deferral of the Meaningful Vote  will impact the Brexit process, the House of Commons Library has issued a paper.

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