UK economy grows 0.5% in three months after Brexit vote The UK economy grew by 0.5% in the three months after the Brexit vote, the Office for National Statistics (ONS) has said. The figure for July to September was down from the 0.7% growth recorded in the second quarter of 2016 – the months before Britain voted to leave the European Union. But it is more robust than many economists had expected – and stronger than the 0.2% forecast last month by the Bank of England. – Sky News The GDP data from the Office for National Statistics is the first official verdict on how the economy has performed since Britain voted to leave the European Union. The figures rule out the prospect of a technical recession – defined by two consecutive quarters of contraction – in the second half of the year which was predicted by many economists before the referendum vote. – The Guardian Brexit has damaged economists, not the economy – Christian May in City A.M. The Remain doom-mongers are proved wrong – Daily Telegraph editorial Confirmed: the Treasury’s prediction of a Leave vote causing instant recession was wrong – ConservativeHome UK GDP proves the pessimists wrong – John Redwood’s Diary GDP data shows strong growth in UK economy after Brexit vote. Who’d have thunk it? – Fraser Nelson for the Spectator’s Coffee House blog Five things we learned from the GDP figures – City A.M. 7,000 jobs secured as Nissan confirms it will build new models in Sunderland… Nissan has confirmed it will build both the new Qashqai and the X-Trail SUV at its Sunderland plant in the first major development for the car industry since the Brexit vote. The Japanese company’s commitment to Britain’s biggest car plant had been in doubt following the referendum. – BBC Government denies ‘secret deal’ to support Sunderland factory post-Brexit – Daily Telegraph Minister ‘gave Nissan written promise’ it would not lose out from Brexit – PoliticsHome Brexit doomsayers defied as economy expands and Nissan invests – Bloomberg Good news for the industry and a victory for the government. The heavy lifting, however, is still to come – Times editorial (£) …as Toyota stands behind car production in the UK despite Brexit Toyota will not easily give up UK production even if trading conditions for its two plants in Derbyshire and Deeside in North Wales change after Britain’s exit from the EU, according to its most senior western executive. Didier Leroy, executive vice-president of the Japanese carmaker, said it trusted the UK government to provide “fair treatment” to ensure that businesses can remain competitive in the post-Brexit era. – FT (£) Government to hold talks with Hitachi to secure post-Brexit investment in the North East – The Chronicle JCB boss: EU regulations mean that Britain is better off outside the single market The cost of European Union regulations for companies means that Britain is better off leaving the single market, one of the country’s most senior business leaders has said. Lord Bamford, the chairman of JCB and a Conservative peer, said that trade tariffs imposed after Brexit would be a “price worth paying” and that UK businesses will take it “in their stride”. – Daily Telegraph EasyJet boss says special aviation deal between UK and EU can be worked out post-Brexit Easyjet’s boss has said that a deal can be worked out between the EU and the UK post-Brexit as it would be “beneficial to both economies”. Sophie Dekkers, the firm’s UK country director, has said she is optimistic about a bespoke deal being agreed in the upcoming negotiations to leave the EU. She dismissed concerns airspace would be a sticking point, claiming that an arrangement would be beneficial to both unions. – Daily Express Brexit could be positive for UK arts industry ‘if right decisions are made’ The 73-page Brexit report [by the Creative Industries Federation], being presented on Thursday to the culture secretary, Karen Bradley, and the business secretary, Greg Clark, has been welcomed by a raft of arts and creative leaders. It is complete with data, analysis and recommendations around the key dilemmas facing cultural organisations in a post-Brexit world. They include the visa system, education and training, intellectual property and funding. – The Guardian Brexit gives the UK the chance to tackle creative industry problems by rebooting the education system and improving the visa system – Campaign No post-Brexit slowdown for UK music business – IQ Magazine Brexit must not stop the world’s artists enriching our culture – Alex Beard for the Evening Standard Scottish Secretary David Mundell states Scotland will leave single market when Brexit hits Scottish Secretary David Mundell has shot down any remaining hopes that Scotland can stay part of the single market under the Brexit deal struck by the UK Government… Speaking to a Scottish parliamentary committee at Westminster looking at the implications of Brexit the cabinet minister said: “If we are leaving the EU, we are leaving the single market.” The Tory MP for Dumfriesshire, Clydesdale & Tweeddale went on to say that he believed Britain could retain tariff and barrier-free access to the 500-million strong single market. – Daily Record Government rejects Nicola Sturgeon’s claim of 36-hour delay on Brexit ‘hotline’ – PoliticsHome Northern Ireland judges to deliver ruling over first legal challenge to Brexit Northern Ireland’s High Court will deliver judgment today in the first legal challenge to the EU referendum result. A cross-party group of politicians has questioned the validity of the UK’s exit without a vote in either parliament or the Stormont Assembly. [The group’s] lawyers argued that the consent principle, enshrined in the Good Friday Agreement, had given people in Northern Ireland control of their sovereignty. – LBC Ireland may suffer the most from Brexit – The Economist Bad Brexit deal could push UK ‘over a cliff’, warns Lord Owen The former SDP leader will call on the UK Government to starting striking independent trade agreements with other countries now, before Brexit negotiations begin next year….Lord Owen insists that if the EU blocks British trade negotiations with non-EU members, the government should refuse to exit under Article 50 of the Lisbon Treaty but instead use the Vienna Convention on the Law of Treaties to withdraw. He will also claim the adoption of all EU laws into UK domestic law will simplify the process of Brexit negotiations. – STV Millionaire Labour donor to launch business-driven “Hard Brexit” campaign group Millionaire Labour donor John Mills is in early talks to create a new campaign group to push for a so-called “Hard Brexit”. Mills, who campaigned for a Leave vote during the referendum, is looking to corral business figures to back a drive under the banner “Business for Brexit”. The founder of JML has been a thorn in the side of Labour recently, warning last month that the party lacks “fleshed out” economic policy. – City A.M. Post-Brexit, Brussels is to have another stab at harmonising corporate tax The European Commission has unveiled its latest plan to harmonise corporate tax. After two past failures, the executive hopes the recent flurry of tax scandals will give the project a new lease of life. The EU has revived its tax crusade with a new attempt to establish a Common Consolidated Corporate Tax Base (CCCTB). – EurActiv ‘White smoke’ on EU-Canada trade deal breakthrough The turbulent trade deal between the EU and Canada is set to be sealed after a last-ditch compromise with a region of Belgium. Belgian Prime Minister Charles Michel said the assembly in Wallonia was finally ready to rubber-stamp the arrangement after tortuous negotiations. It means all 28 nations have now given assent and the CETA arrangement should be completed tomorrow at a signing ceremony with Canadian premier Justin Trudeau. The breakthrough could be a positive sign for the UK’s prospects of striking a deal, which had been thrown into doubt by the chaos that engulfed the seven-year process with Canada. – Daily Mail If the EU cannot do trade, what can it do? – The Economist’s Charlemagne Syed Kamall: EU must learn from CETA debacle – Parliament Magazine Vincenzo Scarpetta: Italy can be an important broker in the Brexit negotiations Italy can, and currently sounds willing to, help broker a win-win agreement between the UK and the EU-27. All the more so because there is an element of self-interest involved: the upcoming Brexit negotiations are a perfect opportunity for the country to reaffirm its role as a large and influential member of the EU. – Vincenzo Scarpetta for Open Europe James Frayne: Theresa May must get serious about economic reform for Britain to weather Brexit turbulence The Prime Minister must begin to explain Britain’s role in the world outside the EU – something ambitious enough to match the enormity of the public’s decision to vote Leave. But she must also start explaining the need for a more dynamic and competitive domestic economy outside the EU. The two are inextricably linked. Britain will face an unpredictable transition period as we exit. We need a round of economic reforms that will give us the opportunity to capitalise on the wealth of options open to us – reforms that will also give us the best chance to weather any turbulence. – James Frayne in City A.M. Conor Pope: Is Labour learning to love Leave? Previous comments from Corbyn’s spokesperson putting the party’s support for the Single Market in doubt have been vague, reticent and slightly curmudgeonly. McDonnell’s speech was different. It told us that Labour is going to take Brexit as an opportunity, and that the question in future will not be “How do we stop Brexit?” but “How do we make Brexit work?” From Corbyn’s spring spent making the “Labour case for staying in”, we will now hear more about what a “people’s Brexit” will look like. – Conor Pope for LabourList John McDonnell still hates bankers and Heathrow. That’s all Labour has to offer on Brexit – Tom Harris for the Daily Telegraph Labour’s cluelessness leaves the Lib Dems to rally those against hard Brexit – John Harris for The Guardian David Green: Who needs the Single Market? Britain doesn’t. We’d be better off under WTO rules Wherever you look, the Single Market has failed. An economic arrangement that can show no relative advantage for economic growth, exports, productivity or employment is unworthy of retention. We will prosper as non-members even if we have to pay the tariffs. But more important, we will be able to set an example of how a free people can flourish outside an outmoded regional trading bloc. Others are sure to follow, which is the real reason the European Commission is so hostile. – David Green for ConservativeHome > Bob Lyddon: We need to be out of the Single Market before the euro blows – BrexitCentral Could UK choose a ‘Ukrainian model’ after Brexit? – EurActiv Norway model offers Britain food for thought on post-Brexit trade – FT (£) Brexit comment in brief Before Brexit, MPs must have their say on article 50 – Nicky Morgan MP for The Guardian Will Brexit deliver the next Big Bang? – Rory Broomfield for CommentCentral Bankers may not be popular, but they need our protection – Stephen Hammond MP for The Times (£) RedBox Politicians must stand up for the glories of globalisation – Ian Birrell for CapX Will the Brexit revolution be Glorious or bloody? The fate of Mark Carney will tell – Jeremy Warner in the Daily Telegraph Don’t blame the worse-off for Brexit. Plenty of Britain’s ‘liberal elite’ backed it too – Piers Ludlow for the LSE Brexit blog City Insider: Michael Gove offers insights on life post-Brexit – FT (£) Why Brexit could be a boon for GM crops – Louise Gray for The Spectator’s Coffee House A vote against Zac Goldsmith is a vote against extreme Brexit – Polly Toynbee for The Guardian A progressive alliance in the Richmond by-election can scupper hard Brexit – Neal Lawson for the New Statesman’s Staggers blog A Stop Brexit party would never work. But politicians will still try to pander to those in ‘Brenial’ – Asa Bennett for the Daily Telegraph Brexit news in brief Open Britain call for NHS workers to be protected from curbs on free movement of people after Brexit – The Independent How Brexit Will Happen: A brief primer on EU law and constitutional law questions raised by Brexit – Holger Hestermeyer for the Oxford Business Law Blog Can-do councils will thrive after Brexit – Public Finance blog The European Parliament rejects cuts to 2017 EU budget – Parliament Magazine Greek Prime Minister blames Tory cuts for UK’s shock Brexit vote – Daily Record Most EU cities are a long way from joining the club of top-ranking financial centres – FT (£) And finally… Labour’s John McDonnell mixes up ‘Brexit’ and ‘breakfast’ three times in the same speech If politicians learn one lesson from the events of 2016, let it be this. Never give a speech about Brexit on an empty stomach. Because, however valiantly you try to soldier on, it’s practically guaranteed that at some point you’ll accidentally call Brexit “breakfast” instead… In a speech in London at 11 o’clock yesterday morning – that dangerous hour, when the blood sugar is running low and the stomach is starting to growl – Labour’s John McDonnell did it not once, not twice, but three times. – Daily Telegraph