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Michael Gove reportedly considered declaring November 1st a bank holiday to reduce the chaos Britain crashing out of the EU would cause in financial markets.

The Tory Brexiteer, who is in charge of preparing for us leaving the union without agreement on October 31, told business leaders he was considering the plan according to reports in The Times .

According to two sources Mr Gove said: "I don't know if this is a good idea at all. Tell me if it isn't. What about a bank holiday?"

But last night No10 sources said that a bank holiday was not government policy.

One of the business people at the meeting yesterday reportedly welcomed the idea - as there is already a bank holiday in France that day.

(Image: AFP)

Other business leaders allegedly told Mr Gove it would not protect the economy as other international markets would respond to a No Deal Brexit .

A Downing Street spokesman told the paper: "Business round tables are an important forum to allow business to suggest and discuss ideas. While we welcome open discussion, a bank holiday on November 1 is not government policy and will not happen."

It comes as Labour wrote to Britain's top civil servant steps in to prevent Boris Johnson from forcing a no-deal Brexit during a general election campaign.

Mr Johnson could face a no-confidence vote when MPs return in early September.

But Downing Street insiders suggest that even if he lost the vote he would delay holding a general election until after the October 31 no-deal exit.

The Labour leader wrote to Sir Mark Sedwill to warn it would be an “anti-democratic use of power” if the new Prime Minister denied voters a choice on Britain’s future in the EU.