Labour leader Corbyn warns against Brexit ‘no deal’

London: Opposition leader Jeremy Corbyn on Friday warned against the prospect of Britain crashing out of the European Union with no deal in place for its future relationship with the bloc.

“No deal is a bad deal,” Labour leader Corbyn said, after Prime Minister Theresa May said last month that she was prepared to walk away from talks with Brussels since “no deal for Britain is better than a bad deal”.

Corbyn said in a speech: “We need continued access to existing markets. If the prime minister fails to deliver that, she would have failed on the economy.”

He said leaving the European Union without a deal in place and relying only on standard World Trade Organisation tariffs would leave exporters facing £6 billion (7.1 billion euros, $7.5 billion, Dh27 billion) in potential extra costs.

Corbyn also emphasised the importance of guaranteeing the rights of some three million citizens of other EU member states living in Britain.

“The rights of European Union nationals living and working in Britain must be guaranteed now, unconditionally, to stay in this country, just as the rights of UK nationals must be protected across the rest of the European Union,” he said.

Centre-right Tory Party leader May has said she will make this a priority in her upcoming negotiations but wants to ensure that the rights of British expats are also protected.

“It is a scandal that our government is trying to use citizens of the European Union, who have made their homes in Britain, as a bargaining chip,” leftist veteran Corbyn said.

He said the government was planning a “Tory Brexit”, adding: “The Tories are hurtling down the road to Brexit with a broken sat-nav system telling them to turn right, right and right again”.

May has outlined plans for a hard Brexit that would see Britain impose some immigration controls on EU nationals and leave the European single market.

She has also warned that if other EU countries pursue a “punitive” Brexit then Britain could change its economic model and slash taxes to attract business.

Corbyn said this threat amounted to “turning Britain into a bargain-basement tax haven if the EU doesn’t play ball”.

“Slashing taxes still further for corporations and cutting essential regulation in jobs, environment and consumer protection will be a magnet for American corporate giants,” Corbyn said.

“That’s not just a threat and danger to the EU, it’s a threat and a danger to the British people, effectively turning us all into bargaining chips.”