Brexit deal should be done by Nov. 21, UK's Raab says
LONDON (Reuters) - A Brexit deal is now firmly in sight and should be finalised by November 21, Brexit Secretary Dominic Raab said in a week-old letter to a lawmaker published on Wednesday that briefly sent sterling sharply higher.
Britain's Secretary of State for Exiting the European Union Dominic Raab arrives in Downing Street in London, Britain, October 29, 2018. REUTERS/Henry Nicholls
The United Kingdom and European Union have resolved most differences, though the issue of Northern Ireland remains, Raab said in the letter, dated Oct. 24 and sent to Hilary Benn, chairman of parliament’s Brexit committee.
“I would be happy to give evidence to the Committee when a deal is finalised, and currently expect 21 November to be suitable,” Raab said, in response to a request to appear in front of lawmakers.
“The end is now firmly in sight and, while obstacles remain, it cannot be beyond us to navigate them. We have resolved most of the issues.”
Asked about Raab’s remarks in the letter, a spokesman for Prime Minister Theresa May reiterated that Britain wanted to clinch a Brexit deal as soon as possible.
“I can’t go beyond repeating, as I have done many times, that we’ve always said we want to conclude this as soon as possible,” he said.
Sterling GBP=D3 surged as much as one percent versus the dollar to trade at $1.2831, and versus the euro to 88.43 pence EURGBP=D3 after Raab's comments before falling back.
“It’s good news at the margin, but not a solid sign that a deal is close,” Nomura said in a note to clients. It is “just a hint of confidence from Raab that it will be.”
The EU’s Brexit negotiators told the national envoys in Brussels on Wednesday that technical talks were still focuSsing on the Irish issue. They will give another update next week and the bloc will also hold seminars from mid-November to prepare for a no-deal Brexit.
But sources in Brussels were still hopeful a deal can be sealed next month once the UK has passed its budget. They also pointed to growing pressure from businesses as the end of the year approaches.
With just five months until Britain is due to leave the European Union on March 29, 2019, little is clear: May has yet to clinch a Brexit divorce deal with the EU and rebels in her party have threatened to vote down any deal she makes.
Raab said four steps remained: a temporary joint UK-EU customs territory; an option to extend the implementation period; that any extension was not indefinite; and continued access for Northern Irish businesses to the rest of the United Kingdom.
Reporting by Guy Faulconbridge; Additional reporting by Gabriela Baczynska; Editing by Andrew MacAskill, Gareth Jones and Peter Graff
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