Today the UK is set to sign a memorandum of understanding (MoU) with the US state of Washington at the 2023 Boeing Supplier Showcase, in a high-flying deal which will allow UK aviation companies to send engineers and experts to state more easily. The deal will be signed Business and Trade Minister Nusrat Ghani, and will open the door to investor intros, trade missions, and increasing access to procurement markets for the air industry. This is the sixth MoU signed with the US since the start of 2022…

“Our pact with the state of Washington is a win for the UK, opening a door for our businesses to trade more openly and unlock new opportunities in key sectors.Each US state is a massive global market in its own right, and many have economies larger than the GDP of whole countries. By notching up our sixth such deal we’ve surpassed the £2trillion mark for combined GDP of states who’ve done a deal with the UK, with many more in our sights.”

Another deal with Florida is next on the agenda. The six MoUs signed already give the UK access to a combined £2.2trillion GDP so far – a major boost for Brexit Britain. Now where’s the Free Trade Agreement…

Sir Keir’s let the cat out of the bag. In footage obtained by Sky News‘ Sam Coates, taken from a conference of left-wing leaders in Canada last weekend, Starmer admits “we don’t want to diverge” from EU rules, and “the more we share a future together” the better. An extraordinary admission from the man who’s got splinters from sitting on the fence for the last three years…

“Most of the conflict with the UK being outside of the [EU] arises inso far as the UK wants to diverge and do different things to the rest of our EU partners. Obviously the more we share values, the more we share a future together, the less the conflict. Actually different ways of solving problems become available… we don’t want to diverge, we don’t want to lower standards, we don’t want to rip up environmental standards…”

This should hardly be surprising, given he spent years pushing for a second referendum under Corbyn. The whole point of leaving was to become dynamic and nimble, rather than beholden to the whims of bureaucrats hundreds of miles away. Starmer has already admitted he prefers Davos to Westminster. The mask is slipping…

Shadow Economic Secretary to the Treasury Tulip Siddiq was trotted out this morning to tell viewers the news that Starmer is looking to achieve “more of a stronger Brexit deal” in Paris today. Guido was more surprised by the claim that the Brexit deal “is a bit too thin, if you look at countries like New Zealand and Canada, they’ve actually got a stronger Brexit deal … which makes it easier for businesses to cut red tape.” Really?

Last time Guido checked Canada and New Zealand still trade over tariff barriers with the EU and will continue to even when their long-feted individual agreements come into force. The Kiwis will have export duties removed on some food and drink products while Canadian agricultural products, for example dairy and poultry, will still be subject to tariffs even after CETA is ratified by EU member states. The UK has a tariff free Brexit deal. Someone needs to do their trade agreement homework…

Westminster is taking unilateral control of implementing the Windsor Framework Brexit agreement in Northern Ireland, with the UK government continuing its plans without the input of the DUP or any other party in Stormont in the absence of power-sharing. The Alliance Party of Northern Ireland confirmed reports this morning, which first appeared on Friday in PoliticsHome, that the agreement is set to proceed regardless of the power vacuum which has continued since early 2022. The Northern Ireland Office made the decision last week…

A government spokesperson said on Friday:

“We are continuing to take forward work to implement the Windsor Framework, and are engaging the Northern Ireland Parties as part of those efforts.”

There are still ongoing discussions as to what the plans going forward will look like. The feeling is that making no progress on the Framework now, after years of Brexit chaos, was too damaging a prospect to simply wait it out…

Slow economic growth with inflation – stagflation – could result from the surging price of oil. Markets are mesmerised by the thought that as we go into winter in the Northern hemisphere oil is heading towards $100-a-barrel. The chart above shows Brent crude is in the mid-nineties as the Saudis are determined to push prices higher. The US is now insulated by domestic fracked shale oil supplies and the dollar has become a petro-currency as a result. Campaigners today again won permission for yet another hearing to challenge and delay the go-ahead to build the Sizewell C Nuclear Power Station. Thanks to anti-frackers, anti-nuclear campaigners, and Net Zero zombies, Britain’s energy insecurity has increased. 

Oil prices will add to the political miseries facing Sunak as he decides whether to go for a May election before things get worse, or play it long in the hope that things get better. He’s caught between an unfracked rock and a hard place…

The US House of Representatives is opening an impeachment inquiry into President Joe Biden, with Speaker McCarthy claiming it will focus on “allegations of abuse of power, obstruction and corruption“. Hunter Biden is currently under investigation for potential tax fraud over his foreign business interests. Joe insists he has little knowledge of those interests. The Republicans are putting that to the test…