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The devastating news is likely to affect tens of thousands of Brits who have made their homes in the European Union. A number of British banks, including Barclays, Lloyds and Halifax, have reportedly informed customers that they may only keep their UK accounts if their permanent residence is in Britain.
The banks blame the increased and complex bureaucracy caused by Brexit as the reason for their decision.
The move has caused concern and consternation among British expats. Many retirees in Spain receive their pensions and other income via their UK accounts.
Moreover, most Brits in Europe have a sterling savings account with a British bank.
Jacob Rees-Mogg conceded there is "much more to do" to ensure the full benefits of Brexit are being reaped as he suggested some of the changes could help tackle the cost of living crisis.
Jacob Rees-Mogg conceded Britons have still to see the full gains of quitting the European Union as he offered a glimpse into his plans to help "boost the economy".
The Brexit Opportunities Minister said some of the benefits had already been visible but more could be done to ensure a full break with the bloc is achieved. GB News host Esther McVey asked: "Have we reaped the benefits of Brexit?"
Mr Rees-Mogg said: "Not yet, no. We've got much more to do.
"We've got some benefits already, and we saw that with vaccine rollout, with some minor tax changes.
"We've seen it with the tentative beginning of free ports. But there is a lot more that we can do.
"Solvency too can unleash tens of billions of pounds a year for investment in the economy."
Jacob Rees-Mogg has argued that Boris Johnson's demise as Prime Minister was largely due to his leadership on Brexit, calling his resignation a "triumph" for Remainers.
Jacob Rees-Mogg has warned that Tory MPs who brought down Boris Johnson have put Brexit at risk.
In a lengthy interview with GB News, the Brexit Opportunities minister said Mr Johnson's demise was a "triumph" for Remainers. GB News host Esther McVey had earlier challenged Mr Rees-Mogg on the reasons for the outgoing PM's fall from power.
Mr Rees-Mogg said the demise could be traced back to the Brexit referendum, suggesting it was a Remainer plot.
He responded: "There are all sorts of reasons.
"Part of the reason has to be Brexit. There are still a lot of people who resent the fact we left the EU."
The European Union would use Nicola Sturgeon's plot to obtain Scottish independence to make relations "more difficult" with Brexit Britain, a former Tory MSP has claimed.
Michelle Ballantyne went on GB News to discuss the issues she believes Scotland will face if the country becomes independent.
Ms Ballantyne said: “There is no way now, now we’ve left the EU, that you can ignore the fact that if Scotland left the UK, in particular, if it tried to become part of the EU that a border it going to be created.
“Because Scotland would in effect become a foreign country. If it joined the EU it would be part of the bloc
“Now again, that’s going to be a long and torturous journey, but I think the short term the EU would use Scotland leaving the UK to basically be even more difficult in its relationship with the UK.
“It would celebrate it, it would crow about it, but actually, it wouldn’t turn around and let Scotland in.
"Scotland would still have to meet the requirements of the EU and frankly, Scotland is not going to be a net contributor to the EU’s budget and they’re certainly not going to want to take on another country that has financial difficulties, and Scotland has a very large deficit.”
Good evening. I'm Jack Walters. I will be bringing you the latest Brexit developments over the next eight hours. Please feel free to get in touch with me as I work if you have a story or tips to share! Your thoughts are always welcome.
Email: jack.walters@reachplc.com
News that Remainers are returning to the UK after it left the EU "says a lot about the hope and vision that Brexit Britain has on the world stage", a leading political commentator has said.
Speaking on GB News, Nile Gardiner, director of the Margaret Thatcher Center for Freedom, commented: "It is remarkable how these anti-Brexit Remainers – many of them in the United States – are now deciding to move to Brexit Britain."
He described the recent announcement that Nick Clegg, the former Liberal Democrat leader and staunch Remainer, would return to London as part of his new role at Facebook owner Meta as a "perfect example of that", suggesting the former Deputy Prime Minister was "eating humble pie".
'It's remarkable how these anti-Brexit remainers, many in the US, are moving to Brexit Britain. Nick Clegg is a perfect example.' Nile Gardiner slams Joe Biden for having the 'most far-left presidency in US history' and causing American entrepreneurs to move to Brexit Britain. pic.twitter.com/wPkCtC48KL
I’m Aleks Phillips and I’ll be bringing you all the latest developments on Brexit this afternoon.
REMOANERS have been put firmly in their place after new figures showed the UK economy had caught up with that of other EU countries.
Brexit sceptics have claimed that Britain's economy has been adversely impacted by the UK's decision to leave the European Union.
However, new data shows the UK's GDP has rebounded from the Covid recession and is at a level comparable to other leading EU nations.
Julian Jessop, an IEA economics fellow, published a graph to his Twitter page showing the performance of various EU economies since the pandemic.
He wrote: "FYI, here's an update of UK GDP compared to our peers in the EU.
"In short, following a bigger fall during #Covid, the UK has now caught up.
"There is no clear impact from #Brexit on overall GDP, and no sign either (yet?) that the UK is being hit harder by the #costoflivingcrisis."
JACOB REES-MOGG has argued that Boris Johnson's demise as Prime Minister was largely due to his leadership on Brexit, calling his resignation a "triumph" for Remainers.
Jacob Rees-Mogg has warned that Tory MPs who brought down Boris Johnson have put Brexit at risk.
In a lengthy interview with GB News, the Brexit Opportunities minister said Mr Johnson's demise was a "triumph" for Remainers.
GB News host Esther McVey had earlier challenged Mr Rees-Mogg on the reasons for the outgoing PM's fall from power.
Mr Rees-Mogg said the demise could be traced back to the Brexit referendum, suggesting it was a Remainer plot.
BREXITEER Rupert Lowe has lambasted former Italian football boss Adriano Galliani for his advocacy of excluding British teams via a "Brexit in football".
And the former Southampton FC chairman also drew compassions between the “deceit” he claimed was inherent in both the EU and the concept of a European Super League.
Former Brexit Party MEP Mr Lowe also said the idea of a league of the continent’s top clubs was flawed - arguing it is the regional rivalries, not games with teams from other countries, which fire the imagination of UK football fans.
The plans for a breakaway European Super League made headlines in April 2021, with so-called “Big Six” of English football - Manchester City, Manchester United, Liverpool, Chelsea, Arsenal and Tottenham Hotspur - signing up for the idea, along with AC Milan, Inter Milan, Juventus, Atletico Madrid, Real Madrid, Barcelona.
A ROW has erupted on Twitter after a Tory peer was told to "grow up" over claims that Labour could "betray" Brexit.
Lord Moylan made the comment about Labour as he responded to a tweet by Mujtaba Rahman, the managing director for Europe at Eurasia Group.
Mr Rahman posted a thread with a series of predictions about the implications of Russia's invasion of Ukraine on the EU.
Mr Rahman said Vladimir Putin's brutal attack on Kyiv could lead to French President Emmanuel Macron's European Political Community vision of a "wider circle" of European states who are "linked to EU but not part of it".
He added that this could one day "offer a path for Labour to co-operate" with the bloc.
Lord Moylan replied to Mr Rahman's tweet: "Interesting that he expects @uklabour to blaze the trail of betraying Brexit. I agree."
But Mr Rahman furiously hit back insisting the Tory peer had misconstrued his tweet.
WITH TESLA CEO Elon Musk announcing plans for 12 new gigafactories around the world, Britishvolt has handed the UK a roadmap for attracting foreign EV manufacturing, Express.co.uk can exclusively reveal.
At a shareholder conference last week, Mr Musk announced that Tesla is looking to build an additional 10-12 large-scale electric vehicle manufacturing facilities, known as gigafactories.
The world’s richest man noted that each of these gigaplants would aim for an output of between one and a half to two million units per factory.
He also noted that the EV giant may be able to announce an additional factory this year, with Canada seemingly being the frontrunner.
However, Britain could be eyeing to secure one of these gigafactories, with Tees Valley mayor Ben Houchen throwing his hat in the ring.
Ben Kilbey, the chief communications officer for Britishvolt, noted that Tesla building an electric vehicle manufacturing facility would provide a major boost for the country.
A REMOANER has sparked an online debate after he shared a picture of full supermarket shelves in the EU in an apparent Brexit dig.
He claimed that "Brexit voters" needed to "fess up" that domestic issues were caused by Brexit. However, people were quick to mock the tweet, pointing out that Britain also had full shelves.
Simon Manning said on Twitter: "Fresh fruit and veg galore. No shortages of staff. Fuel at €1.68 (£1.42). All is good in the EU, affected by the same Covid pandemic and same Ukraine invasion.
"UK politicians and Brexit voters need to fess up that domestic issues are Brexit related and deliver their solution."
However, others were quick to point out that food was readily available in Brexit Britain
Haighy replied in a tweet: "Yes same here in Wakefield. Payed £1.69 for petrol, no empty shelves at supermarket. What's your point?"
Another user, Robbie, taking a dig at the EU's energy crisis added: "Wow, I love Europe. Will the lights still work in the winter though?"
BRITAIN's drinks exports has received a massive post-Brexit shot in the arm, surging by almost a fifth last year, new research has indicated.
In a huge endorsement of outgoing Prime Minister Boris Johnson’s Global Britain strategy, UK brands are now seen as bywords for luxury the world over, the analysis, published by Chartered Accountants and Business Advisers Hazlewoods, concluded. Drinks exports rocketed from £6.4billion in 2020 to £7.6billion in 2021 an increase of 19 percent, data indicates.
Global exports of Scotch rose by £4.51billion - although 19 percent - year-on-year.
The measures were in place for a year until June 2021, with exports recovering sharply in the second half of 2021.
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