Theresa May says Brexit gives Britain an ‘historic chance’ to give leadership to world… Post-Brexit Britain has a historic opportunity to take on a new role as the global champion of free trade, Theresa May will say. The prime minister will make her first foreign policy speech at the Lord Mayor’s banquet in the City of London. She will also say more needs to be done to ensure communities are not left behind by the forces of globalisation. – BBC News Theresa May insists UK is ‘global champion of free trade’ – Sky News …as she promises an “unashamedly pro-business” government Speaking at the Lord Mayor’s Banquet at the Guildhall tonight, May is expected to stress her desire to make the UK an attractive destination for businesses to invest after Brexit. Citing the government’s success in securing future manufacturing in the north east from Nissan, May will promise to back the industries of the future, and rebalance the economy across sectors and geographies. “We will do everything we can to make the UK outside the EU the most attractive place for businesses to invest and grow,” she is expected to say. – City A.M. Theresa May says Donald’s Trump’s victory shows why Britain needs to control immigration – Daily Telegraph How British ports could be liberated after quitting the customs union The potential of British ports could be unleashed in the aftermath of Brexit, if the UK quits the EU customs union, according to a new report. The Centre for Policy Studies is calling on Prime Minister Theresa May to create a raft of new “free ports” to improving manufacturing trade and regional growth. Speaking to City A.M. Tory MP Rishi Sunak said free ports are effectively precluded by a combination of customs union membership and tight EU state aid rules, adding that new locations could be dictated by competition. – City A.M. > Tim Knox on BrexitCentral today: Brexit will allow for the creation of a wave of job-creating British “Free Ports” France joined the UK in snubbing the EU’s emergency meeting on Trump Britain and France on Sunday night snubbed a contentious EU emergency meeting to align the bloc’s approach to Donald Trump’s election, exposing rifts in Europe over the US vote. Hailed by diplomats as a chance to “send a signal of what the EU expects” from Mr Trump, the plan fell into disarray after foreign ministers from the bloc’s two main military powers declined to attend the gathering demanded by Berlin and Brussels. – FT (£) Theresa May facing Cabinet backlash over refusal to deal with Nigel Farage despite his links to Donald Trump – Daily Telegraph President Trump is not going to be the ogre some fear, but we need to mend fences and I can help with that – Nigel Farage MEP in the Daily Telegraph (£) Ed Miliband rejects calls for a second EU referendum… The former Labour leader told ITV’s Peston on Sunday June’s Leave vote must be respected and there was “no question” of the UK staying put… Mr Miliband also called for curbs on freedom of movement rules in the UK… Mr Miliband said his focus was on getting the government to reveal more details about its plans and that a parliamentary vote was the best way to do that. – BBC > Watch: Ed Miliband: I understand the 48% who feel frustrated and angry by the vote… but we are leaving the European Union …as Sadiq Khan attacks Remoaners “willing Brexit to fail” Brexit must now be made to succeed, the mayor said, criticizing those “wallowing in self pity, willing it to fail.” “You’ve got two choices, you can either sulk about it and cross your arms and will it to fail so you can say I told you so. That benefits nobody. Or you can try to make a fist of it and make it a success.” – London Mayor Sadiq Khan interviewed for Politico Business remains confident about 2017, despite Brexit British businesses are bullish about the economic outlook over the next year, despite uncertainty surrounding the vote to leave the European Union, a survey shows. Hays, the white-collar recruitment company, said 93pc expected higher or stable activity in the next 12 months, down only slightly from 94pc before June’s referendum. In another sign that confidence remains robust after the Brexit vote, two thirds of respondents said they planned to take on more staff over the coming year. – Daily Telegraph UK consumer spending sees strongest rate of increase in 6 months, says Visa – International Business Times Taylor Wimpey hails ‘resilient’ trading in new homes after Brexit – Daily Mail Brexit vote has not sparked a tech exodus – Daily Telegraph (£) Major German construction consultant launches in UK despite Brexit – Building Brexit threatens to ignite European skirmishes over the EU Budget… The European Union may get a preview of the impact Brexit will have on its bottom line when EU governments tackle the bloc’s budget this week. And it risks being unsettling. Battles over EU spending, which is funded mainly by national transfers, traditionally say more about the politics of Europe than about its economy. That’s because the European budget, while limited to 1 percent of EU gross domestic product, is increasingly viewed by member countries in an era of populist backlashes through the prism of net contributions and receipts. – Bloomberg …as the pound raises the cost of Britain’s EU budget contribution Britain’s net contribution to the EU budget next year is set to rise by hundreds of millions of pounds due to the drop in sterling, increasing tensions with European partners already having to make up a €1.7bn gap from the UK this year alone. But even though the British bill will rise in 2017, its contributions will decline in euro terms because a weaker pound means Britain’s economy appears smaller, further souring the atmosphere across the English Channel. – FT (£) Don’t tax Nissan’s imports, Japan tells Britain Nissan and other big Japanese manufacturers can only work in the UK if they are free to import parts from the EU, the country’s ambassador said, warning the government not to slap taxes on the trade post-Brexit. Factories can only work efficiently if there are not arduous border checks holding up trade, Koji Tsuruoka said, adding that companies working in Britain want as little change to this setup as possible. – Daily Telegraph RBS chairman calls for transitional Brexit deal for banks The chairman of RBS, Sir Howard Davies, has backed calls for a transitional deal with Europe when Britain leaves the union, warning of the risk to banks if they swiftly lost access to the single market and passporting rights. “I think it is damaging if we don’t get a transitional deal, because I think you will then see banks and financial institutions making decisions on the basis of uncertainty,” he said speaking on ITV’s Peston on Sunday show. – City A.M. Iran is open for business with a post-Brexit UK Iran is a large potential market. The second largest economy in the Middle East after Saudi Arabia, it also has the second largest population in Middle East after Egypt, with 77m people. There is little foreign debt, and the country boasts an attractive tax regime: the maximum tax rate in Iran is 25 per cent while dividends and bank interest are tax exempt. – City A.M. Lord Salisbury: The populist tide might sweep away the EU We are obsessed with examining our own navels in the matter of Brexit and we all too easily forget the hole the EU is in. The Austrian election is an outward and visible sign of it. Whether Brussels in its present form can survive the potential hammer blows that the various polls in December of this year and in 2017 may deliver, or whether another banking or currency crisis will make matters even worse,we will soon find out. For our part their troubles are hardly going to do us much good either. Whatever happens,an independent UK under a sovereign parliament, with strong defences, outward-looking and free-trading may be just the friend our neighbours need. – Robert Salisbury for Reaction Charlemagne: Is the death knell being sounded for the integrationist EU club? The deeper fear for many Europeans is that their own long journey of integration is finally running out of steam. The EU is not on the verge of falling apart, Brexit notwithstanding. But Mr Trump’s success shows the potential power of the backlash against the liberal norms the club is supposed to embody, from trade to migration to human rights. If it is replicated in Europe, the EU may eventually tilt towards a common assembly for mutually beneficial transactions rather than a club of like-minded countries with a sense of shared destiny. – Charlemagne in The Economist Alan Mak MP: Shelve the EU’s anti-innovation precautionary principle to turbocharge the UK’s Fourth Industrial Revolution post-Brexit Just as open outcry on City trading floors gave way to fintech-powered transactions completed at the touch of a button, Brexit is the inflection point at which Britain pivots away from the EU’s precautionary principle and adopts a more “can do” approach to science and technology. Combined with greater investment into the sector, Brexit can lead to a new Big Bang culture, ensuring Britain leads the 4IR as it transforms the way we live, work and do business forever. – Alan Mak for City A.M. Brexit news and comment in brief Just as MPs can’t negotiate Britain’s Brexit, so they can’t negotiate its future trade deals – Shanker Singham for ConservativeHome The referendum is over: Labour must support Brexit, learn from the US and douse the flames of voter anger – Simon Sapper for LabourList It’s the markets, stupid: Why Trump isn’t Brexit – Florence Walker for Conservatives for Liberty British airlines band together to fight for continued access to European skies – Daily Telegraph Brexit Britain should lead the way by banning mass antibiotic use in agriculture, says top doctors – Daily Telegraph