UK ‘could stay in the EU’

The UK could still end up staying in the EU if political events in Britain were to lead to a new leader of the opposition Labour Party, leading economist Jim Power has said.

He said the probability that the UK will fail to trigger Article 50, which formally starts the clock on London disengaging from the union, stands at a significant 25%.

That probability would rise steeply should Owen Smith become the new Labour leader because he would likely campaign for a new referendum for the UK to stay in the EU, he said.