International Trade Secretary Liam Fox has refused to back Chancellor Philip Hammond’s warning that a “no-deal” Brexit could damage the economy.

Speaking on the BBC’s Andrew Marr show, he said: “This idea that we can predict what our borrowing would be 15 years in advance is just a bit hard to swallow.”

Treasury analysis estimates that by 2033 borrowing would be around £80bn a year higher under a “no-deal” scenario.

It also forecasts no deal could mean a 7.7% hit to GDP over the next 15 years.

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Former Brexit secretary David Davis has promised to vote against Theresa May’s Brexit plan, raising the prospect that the prime minister could be defeated in parliament later this year.

Mr Davis said on Sunday that Mrs May’s so-called Chequers proposal, which prompted him to resign in July, was “worse than the [UK’s] existing deal” inside the EU.

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Fewer than one in seven partners at hedge funds and private equity firms are women, and progress towards equality is slow.

According to a report based on Financial Conduct Authority data, out of 9,957 partners at private equity firms, hedge funds and other financial services companies only 1,381 (14%) are women.