Government must shield, not sacrifice, financial services in Brexit negotiations November 16, 2020 The health and success of London’s financial businesses is pivotal to the national interest. Banks and other financial institutions that operate out of the Square Mile and Canary Wharf play a vital role in financing businesses, start-ups and critical infrastructure projects in every corner of the UK.
Brexit sovereignty is on the horizon, if the government would only seize it November 16, 2020 With just 45 days to go until the Brexit transition period expires, negotiations between Brussels and London are heading into a final frenzy. At the same time, the political battle is heating up. Last week, the government’s proposed Internal Market Bill, designed to correct the most pernicious aspects of the Brexit withdrawal agreement signed last [...]
Brexit talks ‘in real trouble’ if decisive week does not produce breakthrough November 16, 2020 Trade talks between Britain and the EU will be in “real trouble” if there is not a breakthrough in the next week, the Irish foreign minister has said. Speaking to Ireland’s Newstalk radio station Simon Coveney said: “If there is not a major breakthrough over th next week to 10 days then I think we [...]
Treasury opens bidding process for first seven post-Brexit Freeports November 16, 2020 From today, the Treasury will start accepting bids from cities and towns across England for the first seven Freeports, which are to be created in 2021. Ultimately, the government aims to establish 10 Freeports across the UK, the Treasury confirmed this morning. Areas given Freeport status will be given a range of tax reliefs, including on purchasing [...]
Brexit: ‘Some progress’ made in trade talks this week, says UK negotiator November 15, 2020 There has been “some progress” this week in UK-EU post-Brexit trade talks, according to UK chief negotiator David Frost. Frost tweeted today that the two sides “largely have common draft treaty texts, though significant elements are of course not yet agreed” and that talks will restart today in Brussels. This week’s soft deadline to get [...]
EU watchdog seeks to quell worry over cross-border investment funds November 13, 2020 The EU’s securities watchdog has said there is no call for a fundamental change in how investment funds in the European Union can be run by asset managers based outside the bloc. The European Securities and Markets Authority (ESMA) alarmed the global funds industry in August when it said that safeguards introduced ahead of Brexit [...]
Coronavirus: Grant Shapps rules out Brexit disruption to vaccine delivery November 13, 2020 Grant Shapps has ruled out potential disruption to deliveries of a coronavirus vaccine by post-Brexit border delays. The transport secretary today said there is a “back-up to the back-up” to prevent any hiccups, amid concerns delivery of the Belgium-manufactured Pfizer jab could be jeopardised if the UK fails to secure a trade deal with the [...]
DEBATE: Will the National Security and Investment Bill make it harder for the UK to remain a business hub? November 13, 2020 Max von Thun, senior associate at political advisory firm Global Counsel, says YES. Under the screening regime proposed by the new National Security and Investment Bill, a much higher number of deals will be subject to potential government intervention on national security grounds for up to five years after they have taken place. In addition [...]
New FCA chief tells City: ‘We are committed to open markets’ post-Brexit November 12, 2020 The Financial Conduct Authority (FCA) is committed to maintaining open financial markets following the end of the Brexit transition period, warning that not doing so will disrupt the city. Speaking today at Mansion House in an address to city regulators, new chief executive Nikhil Rathi said the watchdog had been keeping its focus on readiness [...]
Editorial: Downing Street’s political infighting mirrored in Brexit strategy November 12, 2020 Downing Street's political infighting mirrored in Brexit strategy