(Bloomberg) — Queen Elizabeth II delivered a speech outlining the U.K. government’s program in Parliament on Monday as Boris Johnson laid the ground for a general election in which he aims to win public support for his Brexit strategy.
In Brussels, European Union Chief Negotiator Michel Barnier said the prime minister’s proposals to break the deadlock over the U.K.’s divorce lack detail and risk leaving the single market vulnerable to fraud. Johnson’s Northern Irish allies in Parliament distanced themselves from his plans as time runs short before Thursday’s crunch summit of EU leaders and his Oct. 31 deadline to deliver Brexit. The pound fell.
Key developments:
Queen Elizabeth II delivered a speech outlining Boris Johnson’s program for government ahead of a general election expected within weeksJohnson Stumbles in Bid for Brexit Deal as EU Demands AnswersPound Drops From Three-Month High on Brexit Deal Reality Check
Johnson Sets Out Election Themes (3:30 p.m.)
Mindful that a general election could be called within weeks, and the broadcast clips the Conservatives will want to use on social media, Boris Johnson told the House of Commons “we aim to create a new age of opportunity for the whole country” and “let’s get Brexit done.”
He also promised a “high wage, low tax economy, with the highest environmental standards” and drew attention to the Tories’ spending pledges for the state-run National Health Service.
Corbyn Promises Public ‘Final Say’ on Brexit (3:10 p.m.)
Labour Leader Jeremy Corbyn said he doesn’t trust the prime minister and will only facilitate a general election once a no-deal split from the EU is off the table. The Queen’s speech was a pointless exercise, he said.
“There’s never been such a farce as a government with a majority of minus 45 and a 100% record of defeat in the House of Commons setting out a legislative agenda they know can’t be delivered in this Parliament,” Corbyn said. For Labour to support an election, Johnson must “get an extension, take us away from the dangers of a no-deal,” he added.
Corbyn told MPs a Labour government would concentrate on tackling poverty, investing in public services and tackling inequality. It would also offer a vote for the U.K. public on Brexit, he said. “The only legitimate way to sort Brexit now is to let the people decide with the final say,” he said.
“We may only be weeks away from the first Queen’s speech of a Labour government,” he said. “Labour will put forward the most radical and people focused program of modern times.”
Johnson Makes Election Pitch in Queen’s Speech (11:30 a.m.)
Boris Johnson set out his ambitions for governing the U.K. with an outline plan for what he will do if he wins the general election that’s expected to be triggered within weeks.
The prime minister promised a focus on domestic issues if he can “get Brexit done,” as he used the pomp and ceremony of a speech to Parliament by Queen Elizabeth II to announce 26 draft government bills.
Jeremy Corbyn, leader of the opposition Labour Party, has already dismissed Johnson’s use of the speech, in which the monarch outlines the government’s program, as a “cynical stunt.”
‘Sterling Euphoria Wearing Off’ (Earlier)
The pound pulled back from a three-month high and U.K. government bonds rallied as traders reassessed the prospect of the U.K. securing a Brexit deal this week.
Sterling dropped as much as 1.2% against the dollar after surging 3.8% during the previous two days amid optimism the two sides would reach an agreement to avoid a no-deal.
“After the best two-day rally in 10 years, sterling euphoria as regards the prospects of an imminent deal is wearing off,” said Jeremy Stretch, head of Group-of-10 currency strategy at Canadian Imperial Bank of Commerce. “The prospects of a deal have dimmed from the extremes seen on Friday.”
Sinn Fein Say PM Said There’ll Be No Veto (Earlier)
Boris Johnson told Sinn Fein, the main nationalist party in Northern Ireland, that no single party would be allowed a veto on border arrangements under the proposals he has made to the EU, according to Mary Lou McDonald, the party’s president.
“I spoke with the Prime Minister yesterday lunchtime and I raised this issue with him in respect of a veto that might be afforded to Irish unionism, to the DUP in particular,” she told BBC radio. “He assured me, or sought to assure me, that there would be no vetoes afforded to anybody in this process. So I can only take him on his word on that matter.”
The Irish government and Sinn Fein are opposed to the Democratic Unionist Party being given a veto over future arrangements for the border in a vote in the Northern Ireland Assembly.
Earlier:
Johnson Stumbles in Bid for Brexit Deal as EU Demands AnswersBrexit Cloud Hangs Over Energy Supplies From Dublin to Belfast
–With assistance from Charlotte Ryan, Ruth Carson and Jessica Shankleman.
To contact the reporters on this story: Robert Hutton in London at [email protected];Kitty Donaldson in London at [email protected]
To contact the editors responsible for this story: Tim Ross at [email protected], Thomas Penny, Caroline Alexander
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