The international community, in the form of the International Monetary Fund, is weighing in with its own Project Fear, citing a no-deal Brexit as a potentially disastrous hit to global financial stability. In fact it would be a double bonus – one that flowed from his war chest of funds saved for a bad Brexit. Yet if a customs arrangement is part of a Chequers deal, then Labour might need to back it. Otherwise it would seem hypocritical, especially if that ushers in a no-deal Brexit. This has long been May and Hammond’s thinking: with Labour trapped into backing Chequers, Rees-Mogg becomes an irrelevance.

Source: The Guardian October 13, 2018 16:00 UTC