EU ROUND-UP: Sajid Javid says Brexit would hit UK with "£34 billion" of export taxes

Business Secretary Sajid Javid has joined forces with Labour's former Brussels commissioner Lord Mandelson, warning a withdrawal would trigger a "massive" rise in tariff red tape.

The county MP today said it would be an act of "economic sabotage" and challenged the Leave camp over it.

The cross-party pair highlighted analysis by Remain camp suggesting non-tariff barriers, such as complying with customs rules and regulations in destination countries, will cost exporters an average of £80,000 each.

A joint letter from Mr Javid and Lord Mandelson to Vote Leave said: "After repeatedly claiming that Britain will be better off outside of the EU, it is now incumbent on you to provide a detailed plan for Britain's future outside Europe.

"If you want to secure the trust of the British people, important economic questions must be answered."

The pair challenged the Brexit camp to spell out the future trade relation the UK would have, saying: "The British people deserve answers to these questions, so they make a choice with their eyes open with clear facts, so they know exactly what they're getting.

"A campaign to leave the EU's single market without a plan for an alternative is an act of economic sabotage which would risk thousands of jobs, billions of trade and investment and the future economic stability of our country."

But Brexit-backing Tory MP James Cleverly said: "The Remain campaign are failing to make the positive case for the EU because there isn't one.

"With momentum shifting in favour of leaving the EU, we are seeing yet more random numbers from the Remain camp.

"The costs of the EU still massively outweigh the benefits and the renegotiation didn't make a dent on cost of the Brussels bureaucracy.

"If we vote Leave, we can take back control of our democracy, borders and economy and protect our prosperity for future generations."

Mr Javid says in the West Midlands 32,100 firms would be hit by the extra exports cost, costing the region £2.6 billion.

STERLING BOOST AFTER FRESH EU POLL

STERLING has surged against the dollar and the euro after fresh polls put the Remain camp in the lead ahead of the EU referendum.

The value of the pound rose more than 1% against the dollar at 1.46, and it was up 0.9% against the euro at 1.283.

The swing away from the three-week low against the dollar seen yesterday came after support for staying in the EU was given a one-point lead in an online YouGov survey for The Times, and a telephone poll by ORB for the Daily Telegraph.

However, some analysts have questioned whether the currency movement could have been partly caused by a "fat finger trade" - an order to buy or sell which is larger than intended.

Senior market analyst Craig Erlam, at OandA, said: "The two polls overnight have lent support to the pound early in today's session, although the spike from around 1.4480 to 1.4640 shortly after 5am in the UK has been attributed to a fat finger trade.

"Still, the pound is currently trading around 1.45 against the dollar, up around 0.5% on the day, reversing the majority of Monday's losses. With the polls pointing to a very tight race, the next couple of weeks could become increasingly volatile for the pound."

Spreadex analyst Connor Campbell said the fading prospect of an imminent US interest rate hike had also triggered the rally.

He added: "The pound has seen a rather impressive comeback following its post-Brexit poll lead pummelling ahead of the June 23 referendum.

"Cable is now back above 1.45 US dollar, having hit 1.435 US dollar yesterday, though that may also be in part due to a speech from Federal Reserve chair Janet Yellen on Monday that shifted the potential of a rate hike to July - still unlikely - or September, a date complicated by its proximity to the US election."

Sterling hit a three-week low against the dollar yesterday falling as much as 0.9% to 1.43 US dollars.

The move was sparked by a YouGov poll which showed 45% of voters favoured Brexit, with 41% opting to remain. Brexiters were also ahead in an Observer/Opinium poll by 43% to 40%.

ARMY VETERANS' EU LETTER

SOME 270 veterans from the Army, Royal Navy and Royal Air Force have issued a last-ditch plea for comrades to register to vote to back Brexit.

A letter, organised by the Veterans for Britain group, expressed concerns about the increasing role of the European Union in defence policy.

In the letter published yesterday retired sergeants, petty officers and other non-commissioned officers from the three services hailed the referendum as "a unique opportunity to return full democratic control to people the country elects".

"We believe it is essential to maintain and where necessary re-establish the United Kingdom's autonomy in defence in the context of its pre-existing alliances and to ensure it is directly and solely accountable to the UK Parliament," they said.

PUBLIC HEALTH BODY BACKS EU

STAYING in the European Union will be the best option for the British public's wellbeing, according to public health experts.

A report by the Faculty of Public Health (FPH) found the EU's free movement rules benefited the UK, with 10 per cent of the health and social care workforce from European Economic Area countries.

European legislation on the environment, consumer safety, food quality and human rights had also contributed to better UK health and wellbeing, the report said.

But the document acknowledged that the process of making decisions within the 28-member bloc was cumbersome and slow and a post-Brexit UK could act in a more streamlined and efficient way.