United Kingdom accuses European Union of bad faith over Brexit transition plan

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Prime Minister Theresa May's government will not hold a second referendum on Britain's membership of the European Union, her spokesman said on Thursday after the billionaire George Soros donated money to stop Brexit.

With over 1,000 Japanese businesses in the United Kingdom, the country is the UK's 11th largest trading partner, with investment into Britain reaching £46.5 billion in 2016.

Japan has issued a stark warning to the Government over the risks Brexit poses to the county's businesses operating in the UK. "This is all high stakes that all of us, I think, need to keep in mind".

May visited Japan in August previous year aiming to push forward with plans for a Britain-Japan free trade agreement.

Last year, Soros suggested the United Kingdom may never leave the European Union if the bloc reforms itself while Brexit negotiations are taking place.

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"The point about frictionless trade and tariff-free trade was made in the meeting and acknowledged by the government and all sides as being important but nothing firm", said the source, who spoke on condition of anonymity.

"Business representatives. agreed on the importance of the time-limited [Brexit] implementation period in providing clarity and certainty for people and businesses", a spokesperson for May's office said.

David Davis has hit back at "discourteous" European Union plans to punish Britain during a Brexit transition period.

Nissan's Europe Chairman Paul Willcox, Honda's Senior Vice President in Europe Ian Howells and Toyota's Europe President and Chief Executive Johan van Zyl were also present.

Nissan, Toyota and Honda began their United Kingdom operations in Britain in the 1980s and now build almost half of all of Britain's 1.67 million cars.

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