Businesses urge Chancellor to introduce tax incentives to address trade challenges in a post-Brexit world March 11, 2020 | City Talk Ahead of the Budget, the views of over 500 finance professionals from across the UK were canvassed to find out what policy initiatives the Chancellor should announce to provide an economic boost to a post-Brexit Britain, and to understand the biggest threats to the country’s tax competitiveness. The survey, conducted by EY, reveals that one-third [...]
UK must ‘think about trade-offs’ in post-Brexit trade talks, says Commission boss March 9, 2020 The UK must “make up its mind” about which trade-offs it is willing to accept when it comes to striking a post-Brexit trade deal with the EU, Commission boss Ursula von der Leyen has warned. The first round of talks, which took place in Brussels, ended last week with negotiators acknowledging there were serious gaps [...]
Brexit trade talks: Michel Barnier cites ‘serious differences’ between EU and UK stances March 5, 2020 The EU’s chief negotiator has warned of “very serious divergence” between Britain and Brussels over the future relationship, following the first round of post-Brexit trade talks. Michel Barnier said he was confident a deal could be struck between the two sides, saying “an agreement is possible, even if it is difficult”. But he warned there [...]
Downing Street to seek parallel financial services talks with US March 2, 2020 Downing Street is looking at whether a financial services deal can be done in tandem with a broader free trade agreement with the US. The UK will begin talks with counterparts in Washington in the middle of this month, and today published an 184-page document setting out its mandate, which will prioritise industries such as [...]
Brexit and international trade policy leader joins EY’s trade team March 2, 2020 | City Talk EY has strengthened its International Trade and Brexit team with the key appointment of leading global trade specialist, Sally Jones. Specialising in trade policy, from both a global and Brexit perspective, Sally joins EY as partner and trade policy leader, having previously worked at Big Four competitor, Deloitte. Sally has worked with clients across multiple industries [...]
The cost of the UK’s 2021 Immigration system to Financial Services February 28, 2020 | City Talk Recent research by IPPR suggests that 38% of EU workers currently employed in UK Financial Services (FS) firms would not be considered eligible under the UK’s new immigration system. The analysis also found that the rules disproportionately impact the immigration of EU women. Triggered by Brexit, the UK’s immigration system is going through its biggest [...]
The City must stop complaining and start talking about the opportunities of Brexit February 28, 2020 Too much of the discussion around Brexit’s impact on the City has treated it as something of an inconvenience that must be “managed”. This is perhaps understandable — business rarely likes change, certainly not on this scale. But it’s time that we start talking about the opportunities Brexit will present to the City. The conversation [...]
Pound falls as UK threatens to walk away from Brexit trade talks February 27, 2020 The pound is down against the euro after Downing Street threatened to walk away from Brexit trade talks in June if it appears an agreement is unlikely. The pound fell 0.79 per cent against the euro to €1.175 and down to $1.288 against the dollar, as Britain reiterated its no-deal Brexit threat. Boris Johnson published [...]
Brexit trade talks: Six key takeaways from the UK’s negotiating mandate February 27, 2020 The UK government published its negotiating mandate for Brexit trade talks today, setting out what Boris Johnson’s chief sherpa David Frost will be seeking when talks kick off next week. But what are the key takeaways from that document? Here’s six of the most important points. 1. No UK-EU alignment This should be no surprise [...]
UK threatens to walk away from EU trade talks if no progress by June February 27, 2020 Downing Street will demand autonomy over “our own laws and political life” in a future trade deal with the EU – and will walk away from talks as early as June if it appears that an agreement is not likely, according to the UK’s negotiating mandate. The 30-page mandate, published minutes ago, clearly sets out [...]