Cruddas claims peers ‘exceeded authority’

THE boss of CMC Markets and former Tory party treasurer Peter Cruddas has said Britain should “walk away” unless it can get the right EU deal, and attacked the Lords and rebel MPs for frustrating Brexit efforts.

Mr Cruddas – a self-proclaimed major Brexiteer – accused peers of seeking to block Brexit by backing amendments to give Parliament a “meaningful vote” on the final deal and how to proceed in the absence of a withdrawal agreement.

The spread betting tycoon, 64, told the Press Association peers had overstepped the mark after seeking to push through 15 amendments to the Brexit Bill.

He said: “I was very disappointed with the Lords – it seems to me they exceeded their authority.

“It’s clear to me they were trying to block Brexit, not trying to amend Brexit terms for the sake of the country.”

“It’s madness,” he said.

“We should just get on with it – business needs certainty.”

“I’m a supporter of walking away unless we get the right deal for the country,” he said.

Remaining tight-lipped on Theresa May’s handling of the negotiations, he instead pointed to rebel MPs, peers and the EU.

“Politics is getting in the way of reality,” he said.

Last week Mrs May secured victory in a critical Commons vote, defeating an amendment tabled by Dominic Grieve over a “meaningful vote” for MPs on the UK’s exit.

Mr Cruddas – ranked 206th in this year’s Sunday Times Rich List and one of the biggest donors to the Vote Leave campaign – believes the City will hold firm on its position as a global financial centre after Brexit.