This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.theguardian.com/politics/live/2016/jun/27/brexit-live-george-osborne-economy-corbyn-shadow-cabinet

The article has changed 33 times. There is an RSS feed of changes available.

Version 4 Version 5
Brexit live: Osborne tries to calm markets as Labour coup continues Brexit live: Osborne tries to calm markets as Labour coup continues
(35 minutes later)
9.43am BST
09:43
Severin Carrell
Scottish voters remain unconvinced about the case for a fresh independence referendum according to a new Survation poll, despite Nicola Sturgeon’s assertion on Friday that a second one was “highly likely” after Scotland opted heavily in favour of remaining in the EU.
Just under 45% of those Survation polled for the Daily Record over the weekend said Nicola Sturgeon should not hold a second vote, against 42% who said she should. Excluding don’t knows, that left 52% of Scots against a second referendum.
But asked how they would vote if one were held today, the yes vote had a clear six point lead, with 47% in favour of independence against 41% against; excluding 10% don’t knows and 2% who wouldn’t give a view, that gave a 54% yes vote and 46% against.
Those figures follow other polls over the weekend putting a yes vote as high as 59% - a marked jump since Friday’s Brexit vote. But these levels do not yet reach the consistent 60% threshold in favour of independence that the Scottish National party is looking for.
With the Record now openly supporting Sturgeon’s preparations for a second referendum, its poll also found that more SNP supporters voted leave than other parties: 29% of SNP voters backed Brexit, compared to 27% of Scottish Tories, and 17% Labour and 16% Lib Dem voter.
9.41am BST
09:41
Darling says vacuum at top of politics could 'make a bad situation worse'
Matthew Weaver
Labour’s last chancellor Alistair Darling says he is more worried about the economy now than he was at the time of the financial crash.
Speaking on the BBC Radio 4’s Today programme he urged the government to fill the “damaging” political vacuum left by the referendum to provide the markets and businesses with greater certainty. He said:
We have got no government. We have got no opposition. The people who got us into this mess have run away, they have gone to ground and we now have a four month gap before we are likely to get a new prime minister, during which times may be said which will make a bad situation worse. It is now a happy situation which is why I’m more worried now than I was in 2008 ...
I accept that the new negotiations can’t start until we have a new prime minister, but we cannot have a four-month period during which nothing happens.
Darling, one of the leading campaigners for staying in the EU, also criticised Boris Johnson’s claim in his Daily Telegraph column that the referendum was not about immigration. He said:
Free movement of people ... is such a pivotal issue. For Boris Johnson to say ‘oh we didn’t mean it about immigration’ and that somehow things can carry on, the entire Brexit campaign was based on scares about immigration and free movement, so we cannot wait for four months and not discuss these issues, because the rest of the world will look in amazement.
Boris Johnson seems to be taking this as a big game, where the last four months were just a jolly laugh, where it didn’t matter and nothing is going to change.
The risk is, the longer there is uncertainty, people will decide to put their investment and jobs elsewhere. What I’m really concerned about is this gap between now and October when we’ll have a new prime minister, where if we don’t do some serious thinking about what our options are, and if we don’t start engaging with the European Union itself, the risk is we make a bad situation worse. If you leave a vacuum in politics, where you have got all this constitutional, economic and political uncertainty, that is where the trouble starts.
9.31am BST
09:31
Michael Fuchs, a senior figure in Angela Merkel’s CDU party, told the Today programme this morning that if the UK wanted to retain access to the single market once it left the EU, that would be possible, “but not for free”. According to the BBC, he went on:
You have to see with Norway, with Switzerland, you have to pay a certain fee. And the per capita fee of Norway is exactly the same as what Britain is now paying into the EU. So there won’t be any savings.
9.24am BST
09:24
And here is the letter from Steve Reed announcing his resignation as a shadow local government minister.
I have resigned as Shadow Minister for Local Government. Here is my letter of resignation pic.twitter.com/WcMZp757xE
9.22am BST
09:22
And here is the letter from Toby Perkins announcing his resignation as a shadow defence minister.
I have informed Jeremy Corbyn that I am resigning from my post of Shadow Armed Forces Minister. My letter attached. pic.twitter.com/8ui8lGHVUP
9.20am BST
09:20
Here is some Twitter comment on the latest shadow cabinet appointments and resignations.
From the Telegraph’s Ben Riley-Smith
Labour's leader, shadow chancellor, foreign and defence secs now all back scrapping Trident.
From BuzzFeed’s Jim Waterson
A third of the Labour frontbench shadow cabinet positions are now held by one of the 36 MPs who nominated Corbyn for the leadership.
From the Sunday Times’s James Lyons
Filling shadow Cabinet with Corbynistas will fuel resignations, predicts neutral Labour source.
From the Financial Times’s Robert Shrimsley
A large number of people I'd never heard of are now resigning from jobs I didn't know existed. #labour
From Huffington Post’s Owen Bennett
Surely Kate Hoey and Gisela Stuart deserve a place in the shadow cabinet? They've proved they've got the pulse of the nation
9.14am BST
09:14
Here is the letter from Yvonne Fovargue resigning as shadow consumer affairs minister.
I have today resigned from the frontbench as Shadow Minister - Consumer Affairs & Science pic.twitter.com/PYpjwOiIKU
9.08am BST9.08am BST
09:0809:08
Angelique ChrisafisAngelique Chrisafis
Could international allegiances between cities be an answer to the current chaos Could international allegiances between cities be an answer to the current chaos?
Following the referendum result, London’s mayor Sadiq Khan and Paris mayor Anne Hidalgo this morning issued a joint pledge for the two cities to work closer together as a counterweight to nationalism. They said Paris and London are part of “just a handful of truly global cities” and argued that cities “can act as a powerful counterweight to the lethargy of nation states and to the influence of industrial lobbies.” Following the referendum result, London’s mayor, Sadiq Khan, and Paris mayor, Anne Hidalgo, this morning issued a joint pledge for the two cities to work more closely together as a counterweight to nationalism. They said Paris and London were part of “just a handful of truly global cities” and argued that cities “can act as a powerful counterweight to the lethargy of nation states and to the influence of industrial lobbies”.
Paris’s Socialist mayor Hidalgo personally pushed for a gesture of solidarity and increased ties with London, which voted Remain. This stands in contrast to Valérie Pécresse, the right-wing head of the wider Paris region, Ile de France, who has said Paris could profit from London’s woes post-Brexit and vowed that the French capital would fight to win over financial firms and business fleeing London post-Brexit. Paris’s Socialist mayor Hidalgo personally pushed for a gesture of solidarity and increased ties with London, which voted remain. This stands in contrast to Valérie Pécresse, the rightwing head of the wider Paris region, Île de France, who has said Paris could profit from London’s woes post-Brexit and vowed that the French capital would fight to win over financial firms and businesses fleeing London post-Brexit.
Updated
at 9.14am BST
9.07am BST9.07am BST
09:0709:07
Labour peers expected to boycott Corbyn's shadow cabinetLabour peers expected to boycott Corbyn's shadow cabinet
The Labour party’s leaders in the House of Lords are set to refuse to attend meetings of Jeremy Corbyn’s shadow cabinet, the Press Association reports.The Labour party’s leaders in the House of Lords are set to refuse to attend meetings of Jeremy Corbyn’s shadow cabinet, the Press Association reports.
Baroness Smith of Basildon, the Labour leader in the Lords, and Lord Bassam, the chief whip, are both in post because of elections within the ranks of the party’s peers - rather than being appointed by Corbyn. Lady Smith of Basildon, the Labour leader in the Lords, and Lord Bassam, the chief whip, are both in post because of elections within the ranks of the party’s peers – rather than being appointed by Corbyn.
A source said that they had taken “soundings” from the party’s peers and it was likely they would boycott shadow cabinet meetings while Corbyn remains as leader.A source said that they had taken “soundings” from the party’s peers and it was likely they would boycott shadow cabinet meetings while Corbyn remains as leader.
Updated
at 9.22am BST
9.04am BST9.04am BST
09:0409:04
Libby BrooksLibby Brooks
The Scottish secretary, David Mundell, on BBC Radio Scotland’s GMS, repeatedly sidestepped the question about the transfer of powers from Westminster to Holyrood necessary to hold a second independence referendum.The Scottish secretary, David Mundell, on BBC Radio Scotland’s GMS, repeatedly sidestepped the question about the transfer of powers from Westminster to Holyrood necessary to hold a second independence referendum.
I believe that the arguments for Scotland being part of the UK are as compelling now as in 2014.I believe that the arguments for Scotland being part of the UK are as compelling now as in 2014.
Mundell suggested that, despite Scotland voting unanimously to remain, the mandate to leave was UK-wide. He added that it was “unhelpful” that the first thing Nicola Sturgeon mentioned after the leave result was independence, warning that the Scottish people would not respond well to “opportunism”.Mundell suggested that, despite Scotland voting unanimously to remain, the mandate to leave was UK-wide. He added that it was “unhelpful” that the first thing Nicola Sturgeon mentioned after the leave result was independence, warning that the Scottish people would not respond well to “opportunism”.
UpdatedUpdated
at 9.07am BSTat 9.07am BST
9.01am BST9.01am BST
09:0109:01
Steven MorrisSteven Morris
The Welsh government’s cabinet is meeting this morning to discuss the implications of the EU referendum vote for Wales.The Welsh government’s cabinet is meeting this morning to discuss the implications of the EU referendum vote for Wales.
Ahead of the meeting, the first minister and Labour leader in Wales, Carwyn Jones, said it was one of the most important since devolution. He said:Ahead of the meeting, the first minister and Labour leader in Wales, Carwyn Jones, said it was one of the most important since devolution. He said:
We will look at an initial evaluation of the potential consequences of this result for Wales, and agree how we will take the priorities forward in the national interest.We will look at an initial evaluation of the potential consequences of this result for Wales, and agree how we will take the priorities forward in the national interest.
On Friday, I set out my priorities for action, including even closer working with Welsh business to protect jobs, renewed intergovernmental engagement and a commitment to protect and maintain EU funding for Wales for as long as possible.On Friday, I set out my priorities for action, including even closer working with Welsh business to protect jobs, renewed intergovernmental engagement and a commitment to protect and maintain EU funding for Wales for as long as possible.
The full implications of this vote are still far from clear and will not be so for some time. However, one thing is certain. We as the Welsh government are utterly determined to stay internationally engaged, outward-looking and pro-business in our approach. That is what will maintain business confidence, and that is what will help inward investors take the right decisions in this new, uncertain environment.The full implications of this vote are still far from clear and will not be so for some time. However, one thing is certain. We as the Welsh government are utterly determined to stay internationally engaged, outward-looking and pro-business in our approach. That is what will maintain business confidence, and that is what will help inward investors take the right decisions in this new, uncertain environment.
Let us not forget the steel crisis, that we are working so hard to resolve, remains ongoing. We will continue to work with Tata and support steelworkers as we look to meet the immense challenges thrown up by the referendum result.Let us not forget the steel crisis, that we are working so hard to resolve, remains ongoing. We will continue to work with Tata and support steelworkers as we look to meet the immense challenges thrown up by the referendum result.
Jones has made it clear that he has not considered resigning though Labour failed to get out its vote in traditional heartland areas like the south Wales valleys. Seventeen of the 22 local government areas in Wales voted to leave the EU.Jones has made it clear that he has not considered resigning though Labour failed to get out its vote in traditional heartland areas like the south Wales valleys. Seventeen of the 22 local government areas in Wales voted to leave the EU.
UpdatedUpdated
at 9.08am BSTat 9.08am BST
8.57am BST8.57am BST
08:5708:57
Tom Watson, the Labour deputy leader, is due to meet Jeremy Corbyn for talks later today. Watson hinted yesterday that he will tell Corbyn it is time to go, but Corbyn’s allies are saying that the leader will say he is carrying on. This is from Sky’s Tamara Cohen.Tom Watson, the Labour deputy leader, is due to meet Jeremy Corbyn for talks later today. Watson hinted yesterday that he will tell Corbyn it is time to go, but Corbyn’s allies are saying that the leader will say he is carrying on. This is from Sky’s Tamara Cohen.
Corbyn source: Jeremy Corbyn will tell Tom Watson he's appointed a new shadow cabinet and will continue to appoint them throughout the dayCorbyn source: Jeremy Corbyn will tell Tom Watson he's appointed a new shadow cabinet and will continue to appoint them throughout the day
UpdatedUpdated
at 9.08am BSTat 9.08am BST
8.55am BST8.55am BST
08:5508:55
Labour MP Jess Phillips has resigned as a parliamentary private secretary to the shadow education team.Labour MP Jess Phillips has resigned as a parliamentary private secretary to the shadow education team.
Seems slightly highfalutin to resign as I was just the PPS in the Education Team but it was Lucy who asked me, she is gone. So am I.Seems slightly highfalutin to resign as I was just the PPS in the Education Team but it was Lucy who asked me, she is gone. So am I.
Phillips was PPS to Lucy Powell. Given that Powell resigned as shadow education secretary yesterday, Phillips was probably out of a job anyway, but clearly she wants to make a point.Phillips was PPS to Lucy Powell. Given that Powell resigned as shadow education secretary yesterday, Phillips was probably out of a job anyway, but clearly she wants to make a point.
UpdatedUpdated
at 8.58am BSTat 8.58am BST
8.52am BST8.52am BST
08:5208:52
Heseltine calls for second referendum once EU renegotiation deal clearHeseltine calls for second referendum once EU renegotiation deal clear
Andrew SparrowAndrew Sparrow
Good morning. I’m Andrew Sparrow, taking over from Claire and Matthew.Good morning. I’m Andrew Sparrow, taking over from Claire and Matthew.
Lord Heseltine, the former Conservative deputy prime minister, is on the BBC Radio 4 Today programme now. He says that before the referendum, Nigel Farage, the Ukip leader, said a close result could justify a second referendum. Farage was talking about a narrow remain win, but Heseltine says he thinks the same argument applies in the light of the narrow leave win. He says he will be signing the petition for a second referendum.Lord Heseltine, the former Conservative deputy prime minister, is on the BBC Radio 4 Today programme now. He says that before the referendum, Nigel Farage, the Ukip leader, said a close result could justify a second referendum. Farage was talking about a narrow remain win, but Heseltine says he thinks the same argument applies in the light of the narrow leave win. He says he will be signing the petition for a second referendum.
Asked to clarify what he wants, Heseltine says that during the referendum it was not explained what life outside the EU would look like. Once we know the answer to those questions, the public are entitled to have another say.Asked to clarify what he wants, Heseltine says that during the referendum it was not explained what life outside the EU would look like. Once we know the answer to those questions, the public are entitled to have another say.
He says the House of Commons is broadly supportive of staying in the EU. Before it voted to leave the EU, he says there would need to be a second referendum, or an election.He says the House of Commons is broadly supportive of staying in the EU. Before it voted to leave the EU, he says there would need to be a second referendum, or an election.
UpdatedUpdated
at 8.58am BSTat 8.58am BST
8.44am BST8.44am BST
08:4408:44
Labour continues to haemorrhage frontbench spokesmen and women.Labour continues to haemorrhage frontbench spokesmen and women.
Yvonne Fovargue, the Shadow Business Minister, has resigned. Steve Reed, Trickett's deputy at DCLG, has gone too.Yvonne Fovargue, the Shadow Business Minister, has resigned. Steve Reed, Trickett's deputy at DCLG, has gone too.
And there’s still a vacancy at the top for the shadow Scottish secretary, shadow lord chancellor and shadow attorney general.And there’s still a vacancy at the top for the shadow Scottish secretary, shadow lord chancellor and shadow attorney general.
UpdatedUpdated
at 8.45am BSTat 8.45am BST
8.37am BST8.37am BST
08:3708:37
We’re struggling to keep up with the resignations from the junior ranks of Labour’s team. At least two more parliamentary private secretaries resigned as Corbyn announced a new shadow cabinet.We’re struggling to keep up with the resignations from the junior ranks of Labour’s team. At least two more parliamentary private secretaries resigned as Corbyn announced a new shadow cabinet.
Neil Coyle resigns as Labour PPS on Sky News https://t.co/5xUCH7iIVhNeil Coyle resigns as Labour PPS on Sky News https://t.co/5xUCH7iIVh
Resignation of Labour justice PPS Chris Matheson MP significant: On the left of the party and former Unite official.Resignation of Labour justice PPS Chris Matheson MP significant: On the left of the party and former Unite official.
8.34am BST8.34am BST
08:3408:34
Graeme WeardenGraeme Wearden
It looks like Osborne has managed to calm the markets, a bit. The FTSE 100 is down just 20 points right now (-0.37%).It looks like Osborne has managed to calm the markets, a bit. The FTSE 100 is down just 20 points right now (-0.37%).
There’s more here on our business live blog.There’s more here on our business live blog.
8.32am BST8.32am BST
08:3208:32
New shadow cabinetNew shadow cabinet
Jeremy Corbyn has replaced 10 of the shadow ministers who resigned (or were sacked in Hilary Benn’s case).Jeremy Corbyn has replaced 10 of the shadow ministers who resigned (or were sacked in Hilary Benn’s case).
The reshuffle involves moving Emily Thornberry from shadow defence minister to shadow foreign secretary, and replacing her with the new MP for Norwich South, Clive Lewis.The reshuffle involves moving Emily Thornberry from shadow defence minister to shadow foreign secretary, and replacing her with the new MP for Norwich South, Clive Lewis.
Diane Abbott is also promoted to shadow health secretary.Diane Abbott is also promoted to shadow health secretary.
Here’s the full list:Here’s the full list:
UpdatedUpdated
at 8.37am BSTat 8.37am BST
8.25am BST8.25am BST
08:2508:25
Back to Osborne. Here’s the full text of his response to questions about whether there will an emergency Brexit budget as he had threatened.Back to Osborne. Here’s the full text of his response to questions about whether there will an emergency Brexit budget as he had threatened.
There will have to be action to deal with the impact on the public finances, but of course it is perfectly sensible to wait until we have a new prime minister. Of course, the economy is going to adjust, and there will be an impact on the public finances, that’s what I said before the referendum, I don’t resile from anything I said before the referendum. And I said there would have to be action, actually as it happens in the autumn, to address that. I think it is perfectly sensible to wait until we have new prime minister before we address that.There will have to be action to deal with the impact on the public finances, but of course it is perfectly sensible to wait until we have a new prime minister. Of course, the economy is going to adjust, and there will be an impact on the public finances, that’s what I said before the referendum, I don’t resile from anything I said before the referendum. And I said there would have to be action, actually as it happens in the autumn, to address that. I think it is perfectly sensible to wait until we have new prime minister before we address that.
And asked whether he could serve in a government committed to leaving the EU, Osborne said: “It is my country right or wrong. And intend to fulfil my responsibilities to the country.”And asked whether he could serve in a government committed to leaving the EU, Osborne said: “It is my country right or wrong. And intend to fulfil my responsibilities to the country.”
UpdatedUpdated
at 8.37am BSTat 8.37am BST