Parliament to be suspended in September (BBC News), (The FT)

  • Parliament will be suspended just days after MPs return to work in September – and only a few weeks before the Brexit deadline.
  • Boris Johnson said a Queen’s Speech would take place after the suspension, on 14 October, to outline his “very exciting agenda”.
  • But it means the time MPs have to pass laws to stop a no-deal Brexit on 31 October would be cut.
  • House of Commons Speaker John Bercow said it was a “constitutional outrage”.
  • The Speaker, who does not traditionally comment on political announcements, continued: “However it is dressed up, it is blindingly obvious that the purpose of [suspending Parliament] now would be to stop [MPs] debating Brexit and performing its duty in shaping a course for the country.”
  • Labour leader Jeremy Corbyn said: “Suspending Parliament is not acceptable, it is not on. What the prime minister is doing is a smash and grab on our democracy to force through a no deal,” he said.

Bets on pound volatility climb after Johnson’s no-deal gambit (The FT)

  • Investors are braced for an unnerving ride in foreign exchange markets in the run-up to the Halloween deadline for the UK’s exit from the EU.
  • Shifts in the options market, where bets are made on exchange rates, show expectations for sterling volatility have hit their highest level since the start of the year.
  • Bets shot up on Wednesday after Boris Johnson’s government took the unusual step of signalling its intention to suspend parliament in a bid to stop MPs blocking a no-deal Brexit.
  • The prime minister is set to suspend parliament for at least a month, shortening the time available to MPs who hoped to introduce a bill to force the government’s hand on Brexit.
  • Investors’ expectations for swings in sterling over the next three months rose just over 2 per cent on Wednesday to their highest since January when former prime minister Theresa May tried to force her original Brexit deal through the House of Commons.
Author

Jessica's practice focuses on international trade and anti-bribery work, encompassing customs, export control and sanctions matters. Jessica's trade work includes advising international clients on fast-moving and evolving EU and UN sanctions, notably in respect of Iran and Russia, and on compliance with UK and EU export controls. Her trade experience also includes advising on tariff classification and customs valuations. Jessica's anti-bribery experience includes assisting with investigations, and advising clients on compliance with anti-bribery laws. Jessica has also taken a lead role in monitoring Brexit-related developments; analysing how they will affect the UK's trading position generally, and clients' businesses specifically. She has helped clients begin to conduct risk assessments of how Brexit will impact their businesses, and has assisted them in developing tailored Brexit strategies. Jessica also presents at various seminars, webinars, and conferences on the complexities of Brexit. Jessica advises global clients on complex issues arising from international transactions and works with clients across a number of sectors including pharmaceuticals, defence, finance, aviation, energy, and telecommunications. Jessica has also worked previously in Paris, and is fluent in French.

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