The pound is falling again this morning, and share prices are falling too. My colleague Graeme Wearden has more on his business blog.
As Sky’s Faisal Islam reports, trading in RBS shares was halted briefly this morning. This is something that happens when share prices are falling very quickly.
Tom Watson has told his party leader, Jeremy Corbyn, that he has lost his authority in the parliamentary Labour party and that if there was a leadership election, then members would be voting with that knowledge
In critical talks at 9am this morning, the deputy leader set out how destabilising a wave of shadow cabinet and ministerial resignations had been for the party, but fell short of calling on Corbyn to resign.
Labour sources, including those close to the leader, are now admitting that a leadership election is looking increasingly likely, with Watson telling Corbyn he would do his best to hold the party together in that situation.
But Corbyn remains defiant, with his team reiterating his words last night: “Those who want to change Labour’s leadership will have to stand in a democratic election, in which I will be a candidate.”
The celebrity chef Jamie Oliver has said his faith in the British people will be “broken forever” if Boris Johnson becomes prime minister. In a post on his Instagram account, alongside a video of a waving European Union flag, he said:
The divorce of our European marriage will be very costly and provoke a bitterness towards us as a trusted country in the world...However I do believe in democracy and Britain has spoken. In my own way I will now roll up my sleeves and work harder than ever to make this work. But I BEG YOU ONE THING GREAT BRITAIN ???? Give me Boris fucking Johnson as our Prime Minister and I’m done. I’m out. My faith in us will be broken forever.
Johnson says EU citizens living in UK will not have to leave
Boris Johnson, the leading leave campaigner and favourite to succeed David Cameron as prime minister, spoke to reporters outside his house this morning.
I think it’s very good news that the chancellor has come out and said some reassuring things to the markets and it’s clear now that Project Fear is over, there’s not going to be an emergency budget, people’s pensions are safe, the pound is stable, the markets are stable and I think that’s all very good news.
He also insisted that EU citizens currently living in the UK would not be forced to leave.
The second point I want to make, because I’ve seen a lot of confusion over the weekend about the status of people living in this country; it’s absolutely clear that people from other European Union countries who are living here have their rights protected. All that people want to see is a system that’s fair, impartial and humane to all people coming from around the world. And also, obviously people from the UK living abroad, living in the rest of the EU, will also have their rights completely protected. I just worry there’s been a certain amount of confusion in the media over the last 24 hours.
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