Foreign Secretary Boris Johnson could quit

Cable is higher on a report in the Telegraph that Boris Johnson "will resign before the weekend" if Theresa May opposes his Brexit demands.

May is speaking in Florence and may veer the UK towards a Swiss-style arrangement where the EU pays for access to the single market.

Publically Johnson has supported it but "privately he has told friends that a so-called "EEA minus" version of Brexit is something he 'could not live with'," according to the report.

May has called a cabinet meeting for Thursday where she will ask ministers for approval of her speech before delivering it Friday.

Johnson responded to the report, saying he was not going to resign.

If he were to quit, it would be a blow to May for sure but it would a worse move for Johnson. Walking away from his party and his government in the middle of negotiations would look like he was abandoning them. Presumably, he would then launch some kind of political civil war for the party but that wouldn't be pretty.