UK set to publish Brexit plan that sparked rebellion

Agencies
July 12, 2018

London, Jul 12: British Prime Minister Theresa May will publish details of her long-awaited Brexit plan to restart talks with the EU on Thursday, after facing down a revolt by eurosceptic ministers that could still unseat her.

In a policy paper, the government will outline proposals to allow Britain to maintain close economic and security ties with the European Union even after it leaves the bloc in March.

"It is a vision that respects the result of the referendum (vote to leave), and delivers a principled and practical Brexit," Brexit Secretary Dominic Raab said in the foreword.

But the plan has caused outrage among eurosceptic members of May's Conservative party, and Raab's predecessor David Davis and foreign minister Boris Johnson dramatically quit this week in protest.

Their departures, followed by a clutch of junior aides, destabilised May's government and revived talk of a leadership challenge against her.

The prime minister is also likely to face some opposition in Brussels, where officials have repeatedly warned Britain to lower its expectations about how close ties can be.

May has briefed leaders including EU president Donald Tusk and German Chancellor Angela Merkel on her plan and reported a positive response, although they are awaiting the detail.

Britain does not have long to argue its case -- both sides are aiming for a deal by October, to allow time for its ratification by the British and European parliaments.

Failure to agree would see Britain leave the EU without a deal, with the risk of huge economic disruption on both sides of the Channel.

Britain voted for Brexit in June 2016, but May has so far been unable to present a common position to Brussels on what she wants because of deep divisions in her government.

Amid warnings from businesses that continued uncertainty is risking investment and jobs, and fears time is running out, her cabinet finally agreed on a plan last week.

Britain would leave the EU's single market and customs union as planned, to end free movement of people and sign its own non-EU trade deals.

But it would keep EU rules on goods to protect complex manufacturing supply chains, using technology to levy its own duties on UK-bound products from outside the bloc, while diverging on services.

"We need to rise to the challenge and grasp the opportunities" of Brexit, said Raab, adding that the policy represented a "balance".

But Johnson, a leading Brexit campaigner, said following EU rules without being able to alter them risked consigning Britain to the "status of colony", and said it looked like a "semi-Brexit".

Other eurosceptics who want a clean break with the bloc are also livid, prompting speculation they may launch a confidence vote against May.

Brexit-backing MPs, including leading eurosceptic Conservative Jacob Rees-Mogg, will also seek to force her hand by tabling amendments to a trade bill being debated in the House of Commons next week.

One would require a new law to join a new customs union, and another would demand the EU collect any tariffs set by Britain on UK-bound goods coming in from outside.

This last would likely be unacceptable to Brussels, thus killing May's plan, but Rees-Mogg told AFP his aim was only "to help the government stick to some of its earlier promises".

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News Network
March 4,2020

Beijing/Zurich, Mar 4: China has approved the use of Swiss drugmaker Roche's anti-inflammation drug Actemra for patients who develop severe complications from the coronavirus as it urgently hunts for new ways to combat the deadly infection that is spreading worldwide.

China is hoping that some older drugs could stop severe cytokine release syndrome (CRS), or cytokine storms, an overreaction of the immune system which is considered a major factor behind catastrophic organ failure and death in some coronavirus patients.

Actemra, a biologic drug approved in 2010 in the United States for rheumatoid arthritis (RA), inhibits high Interleukin 6 (IL-6) protein levels that drive some inflammatory diseases.

China's National Health Commission said in treatment guidelines published online on Wednesday that Actemra can now be used to treat coronavirus patients with serious lung damage and high IL-6 levels.

Separately, researchers in the country are testing Actemra, known generically as tocilizumab, in a clinical trial expected to include 188 coronavirus patients and running until May 10.

Roche, which donated 14 million yuan ($2.02 million) worth of Actemra during February, said the trial was initiated independently by a third party with the aim of exploring the efficacy and safety of the drug in coronavirus patients with CRS.

It added that there was currently no published clinical trial data on the drug's safety or efficacy against the virus.

More than 3,000 people have died and 93,000 have been infected by the novel coronavirus thought to have originated in Wuhan, China, before spreading to around 90 countries including the United States, Italy, Switzerland, France and Germany.

The Swiss company, for which China is its No. 2 market behind the United States, also makes diagnostic gear to detect the coronavirus.

Since Actemra's approval a decade ago, it has become a go-to drug against other inflammatory conditions, including cytokine storms in cancer patients receiving cell therapies from Novartis and Gilead Sciences.

In 2012 it helped save the life of a young U.S. girl, the first child to be treated for leukaemia with Novatis' Kymriah, from a post-treatment rush of IL-6.

Priced at between $20-30,000 annually for RA according to SSR Health, Roche's medicine is also used for rare juvenile arthritis and giant cell arteritis, or inflammation of the blood vessels.

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News Network
March 30,2020

Mar 30: Thomas Schaefer, the finance minister of Germany's Hesse state, has committed suicide apparently after becoming "deeply worried" over how to cope with the economic fallout from the coronavirus, state premier Volker Bouffier said Sunday.

Schaefer, 54, was found dead near a railway track on Saturday. The Wiesbaden prosecution's office said they believe he died by suicide.

"We are in shock, we are in disbelief and above all we are immensely sad," Bouffier said in a recorded statement.

Hesse is home to Germany's financial capital Frankfurt, where major lenders like Deutsche Bank and Commerzbank have their headquarters. The European Central Bank is also located in Frankfurt.

A visibly shaken Bouffier recalled that Schaefer, who was Hesse's finance chief for 10 years, had been working "day and night" to help companies and workers deal with the economic impact of the pandemic.

"Today we have to assume that he was deeply worried," said Bouffier, a close ally of Chancellor Angela Merkel.

"It's precisely during this difficult time that we would have needed someone like him," he added.

Popular and well-respected, Schaefer had long been touted as a possible successor to Bouffier.

Like Bouffier, Schaefer belonged to Merkel's centre-right CDU party.

He leaves behind a wife and two children.

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News Network
January 3,2020

Islamabad, Jan 3: The United Arab Emirates has extended USD 200 million aid to Pakistan for the development of the small and medium-sized enterprises in the country, Finance Adviser to Prime Minister Imran Khan said.

The announcement came after Abu Dhabi Crown Prince Sheikh Mohamed Bin Zayed Al Nahyan concluded his one-day visit to the country on Thursday.

"The money will be spent on small business promotion and jobs. This support is testimony to the expanding economic relations and friendship between our countries," the adviser, Abdul Hafeez Shaikh, on Thursday said.

The Crown Prince directed the Khalifa Fund for Enterprise Development to allocate USD 200 million in order to assist the Pakistani government's efforts to create a stable and balanced national economy that will help achieve the country's sustainable development, Dawn News reported on Friday.

During the visit, the prince met Prime Minister Khan and held talks on bilateral, regional and international issues.

The UAE is Pakistan's largest trading partner in the Middle East and a major source of investments. The UAE is also among Pakistan's prime development partners in education, health and energy sectors.

It hosts more than 1.6 million expatriate Pakistani community, which contributes remittances of around USD 4.5 billion annually to the GDP.

This is the Crown Prince's second visit to Pakistan since Khan took office in August 2018. He had last visited Pakistan on January 6 last year, just weeks after his country offered USD 3 billion financial assistance to Pakistan to deal with its balance of payment crisis.

The Crown Prince's visit was considered by experts as an attempt to woo Pakistan against the backdrop of recent developments when Saudi Arabia and UAE apparently used pressure to stop Pakistan from attending the Kuala Lumpur summit held last month.

The summit from December 19-21 was seen by Saudis as an attempt to create a new bloc in the Muslim world that could become an alternative to the dysfunctional Organisation of Islamic Cooperation led by the Gulf Kingdom.

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