Brexit talks finish early with ‘significant differences’ still to bridge July 2, 2020 The latest round of Brexit trade talks between the UK and EU finished a day early this week, with “significant differences” still remaining between the two sides. A statement from chief UK negotiator David Frost said that he was still committed to coming to a principle agreement for a future trade deal this month. This [...]
Brexit: UK to reopen temporary market access regime for EU financial firms July 2, 2020 Britain is set to reopen its temporary market access regime for EU financial firms in September to help companies through the Brexit divorce period. Britain left the European Union at the end of January, and the transition period will end in December. There is currently a “temporary permissions regime” in place for EU-based financial firms. [...]
Fresh calls for guarantees on digital taxation in future UK-US trade deal July 2, 2020 One of America’s largest internet advocacy groups has published a six-point wish list for a future UK-US trade deal, including calls for no unilateral digital taxes. The Internet Association’s new white paper calls for a future trade deal to include provisions to ensure the free flow of information between the two countries, a guarantee to [...]
The City View: Matthew Elliott on why the mood music points to a Brexit deal July 2, 2020 In this episode Christian is joined by Matthew Elliott, a veteran political campaigner, having been CEO of two successful referendum campaigns – NOtoAV in 2011 and Vote Leave in 2016. He also founded the TaxPayers’ Alliance, Big Brother Watch, Business for Britain and Brexit Central. He has been described by the New Statesman as “one of the [...]
Downing Street still upbeat about gaining post-Brexit EU access for City of London July 1, 2020 Downing Street is still confident it can secure post-Brexit access to EU markets for the City of London as it blames Brussels for missing a key deadline in negotiations. The UK missed yesterday’s deadline to hand in 28 regulatory equivalency assessments to the EU relating to Britain’s financial services industry. Brussels must use these documents [...]
S&P: Brexit to hold back UK economy’s coronavirus recovery July 1, 2020 Credit rating agency S&P has said prolonged social distancing and Brexit will hold the UK economy’s recovery from coronavirus, disagreeing with the Bank of England’s optimistic view about a sharp rebound. S&P Global Ratings today said it expects the UK economy to shrink by an enormous 8.1 per cent this year. And it said the [...]
Fears over looming coronavirus job losses in UK manufacturing sector July 1, 2020 The UK manufacturing sector could be facing a huge wave of job losses as government support for businesses hit by the coronavirus pandemic comes to an end, economists warned. Although factory activity in the UK grew by the slimmest of margins in June, the IHS Markit/Cips manufacturing purchasing managers’ index (PMI) showed, the survey painted [...]
UK to negotiate financial services trade deal with Switzerland July 1, 2020 The UK and Switzerland have pledged to negotiate a financial services trade agreement to enable cross-border market access after the Brexit transition period ends. Chancellor Rishi Sunak and his Swiss counterpart Ueli Maurer last night said they wanted to reach an agreement that would enable cross-border market access for wholesale financial services relating to insurance, [...]
Truss claims there is ‘no set timetable’ for UK-US trade deal June 30, 2020 International trade minister Liz Truss has assured that there is “no set deadline” for a trade agreement between the UK and US, after backlash yesterday over US animal welfare standards cast doubt on the government’s ability to secure a quick deal. In a statement, Truss said the government had made it clear that there is [...]
Barnier confirms UK has missed Brexit equivalence assessment deadline June 30, 2020 EU chief negotiator Michel Barnier has confirmed claims that the UK has not completed necessary equivalence assessments by today’s deadline, marking a blow to the UK’s efforts to determine the City’s access to EU markets after Brexit. Valdis Dombrovskis, a European Commission executive vice-president, yesterday said the UK had so far answered only four of [...]