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PRIME MINISTER VOWS TO WORK ON DEAL

BRITISH prime minister Theresa May has told of­ficials to do more work on future EU customs ar­rangements after foreign secretary Boris Johnson attacked one of her Brexit proposals as “crazy”.

Johnson’s broadside against what some say is May’s preferred option for ensuring Britain’s new border with the European Union is as frictionless as possible underlines the deep divisions over what post-Brexit ties should look like.


May’s decision to leave the EU’s customs union, which sets tariffs for goods imported into the bloc, has become one of the main flashpoints in the Brexit debate, pitting companies and pro-EU cam­paigners against a group of eurosceptic lawmakers.

Johnson and other Brexit supporters have come out against a proposal for a customs partnership that would effectively see Britain collect tariffs for the EU, putting pressure on the prime minister to dump the plan.

May’s spokesman said on Tuesday (8) that work was continuing on the two proposals currently on the table – the customs partnership and highly stream­lined customs arrangement that would rely on tech­nology. The EU has dismissed both proposals.

“The prime minister asked officials to take for­ward that work as a priority,” her spokesman told reporters after her so-called Brexit war cabinet failed to come to an agreement on which plan to pursue at a meeting last week.”

“Following last week’s cabinet sub-committee meeting, it was agreed that there are unresolved is­sues in relation to both models and further work is needed,” the spokesman added.

Brexit campaigners have criticised the customs partnership and believed it had been shelved until business minister Greg Clark again made the case for the proposal last Sunday (6). Johnson’s words were seen as a reaction to that.

“It’s totally untried and would make it very, very difficult to do free trade deals,” Johnson said in an interview published in Tuesday’s Daily Mail.

“If you have the new customs partnership, you have a crazy system whereby you end up collecting the tariffs on behalf of the EU at the UK frontier.”

May’s spokesman said the prime minister had full confidence in her foreign secretary.

The prime minister has to tread a fine line, mind­ful of fears that any new customs infrastructure at the border between Northern Ireland and EU mem­ber Ireland could reignite sectarian violence that has not been seen for decades. (Reuters)

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Aegon exits UK after 200 years as £2bn deal hands business to Standard Life
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Aegon exits UK after 200 years as £2bn deal hands business to Standard Life

  • Aegon sells its UK arm to Standard Life in a £2bn deal.
  • The move is part of a broader shift towards the US market.
  • The combined group will serve 16 million customers with £480bn in assets.

After nearly two centuries of presence, Aegon is stepping away from the UK market. The company has agreed to sell its UK business to Standard Life in a deal valued at about £2bn, marking a significant shift in its global strategy.

The transaction brings together two large pensions and savings businesses, creating a combined group with around 16 million customers and £480bn ($651bn) in assets under administration. For Aegon, the move is less about the UK itself and more about where it wants to be next.

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