[Sephiroth]

Raab just upped the ante. As long as he gets to the table on the new stand fast basis, we might be getting somewhere. His position is that if there is to be an implementation/transition extension, at the end of the defined period, no backstop applies. A transition period implies there is a political statement that outlines the future relationship.

That statement, if arrived at, must not hide or contain anything that gives the vaguest hint of taxationalignment as that would tie our hands into anti-competitiveness. I doubt the anti-democratic awful hegemonist EU would agree to this and so we would crash out at some stage.

So we should get their taxation position sorted out up front because if they have the slightest notion of going down that route, there must be no-deal and we are 100% out on 30-March.