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Corbyn: May's plan threatens 'a bargain basement Brexit'

Jeremy Corbyn has urged Theresa May to "stop her threat of a bargain basement Brexit" during exchanges at Prime Minister's Questions.

The Labour leader also criticised Mrs May for delivering her key Brexit speech away from the Commons, labeling her "not so much the Iron Lady as the Irony Lady" for "sidelining Parliament" while claiming to restore parliamentary democracy.

Mrs May accused Mr Corbyn of "not having a clue" over Brexit as she faced pressure to reveal if Britain will pay for single market access.

The prime minister refused to be drawn on whether payments would be required after the UK withdraws from the bloc despite the Labour leader repeatedly raising the issue.

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Pound and confidence rally a little after Brexit speech

ITV News' Business Editor Joel Hills was in the City of London to see how the City responded to Theresa May's big Brexit speech.

"The pound has become a benchmark of confidence in Britain's economy, and it is on course for its highest rise since 2008," he said.

"Import costs as a result are starting to rise here, inflation, we learned today, has risen to its highest level in two years.

"The suggestion is that there will be a squeeze in living standards. People are going to start feeling it soon."

He said businesses will like that the prime minister has promised that the "brightest and the best" will be welcome to the country, but firms employing low-skilled workers may miss out.

He added: "The prime minister's committed to tariff free, tax free, quota free ongoing access to the European Union and its economies, but that will come at a price, and she did not spell out what price she is willing to pay."

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Corbyn: May's plan threatens 'a bargain basement Brexit'

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