According to latest news, the cross party Brexit talks between the Conservative and Labour parties have failed to find a compromise and are now set to end without an agreement in place.

Leaving the EU with a Customs Union agreement seems to have been central to the breakdown in discussions, even though at one stage this looked to be on the cards.

Labour have been negotiating for a permanent and comprehensive customs union arrangement, meaning that there would be no duty tariffs applied for movements between the UK and EU countries.

However, many pro-Brexit Conservative MPs are believed to want the UK to be responsible for its own trade deals with non EU countries around the world, which would break the terms of the customs union.

The UK is currently set to leave the EU on 31 October after extending the original deadline twice. Prime Minister May is expected to attempt to get her deal through parliament again next month, which has already been rejected three times.

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