Brexit News

Brexit News, Member News

Cross Border Trade: Contingency Planning for a No Deal Brexit

By Paul Hardy, John Forrest, Chloe Barker. The UK government has published a collection of technical guidance notices to assist companies trading in or with the EU to prepare for a "no deal" Brexit scenario, whereby the UK leaves the EU on 29 March 2019 without an agreement in place to govern the future UK/EU relationship. Whilst the government states that a no deal scenario is "unlikely", it underlines the importance for businesses operating in the UK to consider the implications...

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Brexit News, Chapter News

A “Gross betrayal of Democracy” ?

The UK Prime Minister, Mrs May, writes today that to have a second Referendum in the UK on Brexit would be “a gross betrayal of democracy”. If she believes that, she does not understand democracy very well. She seems to suggest that democrats, having made a decision, should not ever change their minds. In fact, democracy is all about creating mechanisms whereby voters CAN change their minds. Democracy allows voters to change their minds, usually through parliamentary elections. Totalitarian or dictatorial regimes, who...

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Brexit News, Chapter News

Can Brexit Take Place Without Either Major Trade Disruption, or Serious Dilution of the EU Legal Order?

BY JOHN BRUTON Brexit is a British decision. It means that Britain is seeking to withdraw from a contract it made with the other EU members, on the basis of which those countries opened their markets to British business, in a way it was not opened to other countries. That was the deal. In business, if one unilaterally withdraws from a contract, one does not normally expect to continue to enjoy all the benefits of the contract, afterwards.  One expects to have...

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Brexit News, Member News

UK Government proposes broad new powers to scrutinise foreign investment into the UK on national security grounds

The UK Government has proposed sweeping changes to the way that it reviews foreign investment into the UK. The proposed new regime would enable the UK Government to intervene in a much wider range of transactions from acquisitions of shareholdings to investments in assets and land (including minority investments and acquiring limited rights in companies or assets) irrespective of the size of the deal or companies involved, where the UK Government is concerned that the transaction would give rise...

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Brexit News, Chapter News

Brexit: European Commission publishes Communication on preparing for the UK’s withdrawal from the EU

The European Commission has today adopted a Communication outlining the ongoing work on the preparation for all outcomes of the United Kingdom's withdrawal from the European Union. On 30 March 2019, the United Kingdom will leave the EU and become a third country. This will have repercussions for citizens, businesses and administrations in both the United Kingdom and the EU. These repercussions range from new controls at the EU's outer border with the UK, to the validity of UK-issued licences,...

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Brexit News, Chapter News

General Affairs Council (Article 50): Main Results

The Council, in EU27 format, was briefed by the EU's chief Brexit negotiator Michel Barnier on the state of play in the Brexit negotiations. The chief negotiator informed the ministers about where the negotiations stand regarding: the work to finalise the withdrawal agreement, including the backstop solution for the border between Ireland and Northern Ireland the discussions on future EU-UK relations. We will only have a withdrawal agreement if the legal text is agreed on all issues. This includes the backstop for Northern Ireland. In...

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Brexit News, Chapter News, Uncategorized

EY UK economic forecast

The UK economy will experience tepid growth in 2018 due to a combination of higher inflation, reduced consumer spending and a loss of momentum in the eurozone economy. Our latest summer forecast expects UK GDP to grow by 1.4% in 2018 (the weakest performance since 2012) and 1.6% in 2019 (downgraded from 1.6% and 1.7%, respectively, in the EY ITEM Club’s Spring Forecast). A weak first quarter, with GDP rising by 0.2% quarter-on-quarter (q/q) gave the economy a bad start to...

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Brexit News, Member News

The weekly Vulcan View for the 9th to the 13th of July featuring analysis of the latest EU developments

VULCAN VIEW - KEY EVENTS THIS WEEK: BREXIT Theresa May’s softer Brexit plans thrown into disarray by prominent resignations.Theresa May’s conservative government encountered a wave of resignations this week in the aftermath of her cabinet showdown at Chequers last Friday. Brexit secretary David Davis was the first to resign.  He announced his resignation, accompanied by his junior minister Steve Baker, on Sunday, in a bluntly critical letter which stated he would not be a “reluctant conscript” to proposals which would give no...

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Brexit News, Member News

Eversheds Sutherland Financial Services Brexit Round Up week commencing 9 July

By Andrew Henderson | Michaela Walker Over the last week the UK cabinet has concluded its negotiations with itself in respect to what kind of deal it is going to seek with the EU, a deal which, in the words of HMG, has “evolved” since the Prime Minister’s Mansion House speech1. We have seen a brief summary of the terms, but not the much delayed White Paper (which is expected on Thursday 12 July) and this has led to, at the time of...

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Brexit News, Member News

The weekly Vulcan View for the 11th to the 15th of June featuring analysis of the latest EU developments

KEY EVENTS THIS WEEK: G7 SUMMIT  US Diplomacy in Despair after Trump’s Reversal on Negotiated CommuniquéUS President Donald Trump disregarded weeks of diplomatic efforts, alienating his traditional allies and six of the strongest global economies, after descending into a flurry of tweets criticizing Canada and Europe as he left the G7 summit last weekend. Tensions were already high in the days leading up to the summit between the world’s largest economies due to the White House’s imposition of steel and aluminum...

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