Brexit latest: Theresa May asked to 'stand down' during LBC phone

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Head of european equity strategy at Barclays, Emmanuel Cau, said United Kingdom domestic stocks would be damaged the most by a no-deal Brexit.

The government unveiled its long-awaited draft withdrawal agreement on Wednesday, which sets out the terms of the UK's departure from the European Union, over 585 pages.

"Please Prime Minister tell me, why do you think you should stay on as PM, despite your no doubt honourable intentions, to respect the referendum result".

"If you can not do that, I respectfully ask you to do the right thing in the national interest and stand down to allow someone from the Brexit camp to take the lead".

Asked whether she was a modern-day Chamberlain, May told LBC radio: 'No I don't and the reason is this: we are not going to be locked in forever to something that we don't want'.

She responded: "You mentioned sovereignty as a really important issue for you".

Looking exhausted and drawn, she said she believed in her Brexit plan "with every fibre of my being", and ruled out a People's Vote.

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Yesterday, Jacob Rees-Mogg publicly handed his letter of no confidence to Sir Graham Brady, chairman of the backbench 1922 Committee responsible for Tory leadership elections.

Other ministers, including Esther McVey, who reportedly argued heatedly with the Chief Whip at the Cabinet meeting, and Penny Mordaunt, a hardened Brexiteer, are being closely watched this morning to see their next move. He added that he believed the necessary 48 letters to trigger a vote of no confidence in the Prime Minister would be submitted, but declined to put a timeframe on the process.

"My job is to persuade first and foremost my Conservative benches, those who are working with us - the DUP are working with us, obviously, confidence and supply - but I want to be able to say to every MP I believe this is the best deal for the United Kingdom".

"Given the past performance of the EU, there is every possibility that the UK-EU trade deal that we seek will take years to conclude", he wrote.

"I know that there will be hard days ahead..." I can not in good conscience support the terms proposed for our deal with the EU.

It is understood that a group of cabinet ministers are considering whether to try to force Mrs May to make some changes to the withdrawal deal.

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