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Manufacturers 'in despair' over Brexit, as pound hits one-week low – business live

Rising food and alcohol prices have pushed the cost of living in Britain up, as the housing slowdown gathers pace

Shares in UK housebuilders have taken a thump, since Theresa May announced she was only seeking a short Brexit extension.

Persimmon has slid by 3.6%, with Taylor Wimpey and Berkeley Group both losing 3%.

Brexit-sensitive FTSE Housebuilders all LOD amid Brexit confusion

Catherine McGuinness, policy chair at the City of London Corporation, hopes the EU helps the UK avoid the “catastrophic own goal” of a no-deal Brexit.

We urge the EU to agree to an extension. But even if this is granted, it should not simply paper over the cracks as we risk facing another cliff-edge just around the corner.

“More than ever, politicians on both sides of the Channel need to be pragmatic and co-operate in order to find a long-term solution to the current impasse. We cannot continue driving down this road to nowhere.”

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