Paul Rubig co-chair of the European Parliament's WTO steering committee and member of its Internatonal Trade Committee Follow 12 March 2019 • 9:36am First of all, I want to point out that I deeply regret the decision made in the referendum about British withdrawal from the European Union. The United Kingdom for over 40 years played an important role in the European Union and is now on the edge of withdrawing from European level democratic decisionmaking. In Brexit, I see nothing less than a combative lose-lose situation. I deeply oppose that kind of thinking and always will prefer a win-win-situation for both sides. Some Brexiteers claim that we could rely on Article XXIV on the General Agreement on Tariffs and Trade in case of a hard-Brexit, but I don’t see this as an option. They think that the UK and the EU just have to say "they are negotiating... To continue reading this article Start your free trial of Premium … [Read more...] about There is no magic WTO clause Brexit Britain can use to cushion a no-deal — and I would know
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Dominic Raab has spent this morning throwing red meat to his own backbenches – and throwing down the gauntlet to Brussels. In a series of punchy media interventions, the Brexit Secretary said he would step up planning for a no-deal scenario and repeated his warning that Britain’s £39bn divorce bill is conditional on an agreement with the EU. The cabinet will meet to discuss no-deal planning for three hours this morning, with a new tranche of papers outlining just how ministers would maintain normality in that event due this afternoon. The most consumer-friendly, a deal with telecoms firms that will prevent the imposition of mobile phone roaming charges for British travellers in Europe, was announced last night. Continuing the offensive this morning, Raab writes in the Telegraph that the UK “will manage the challenges of no-deal – so we make a success of Brexit”. He says critics of a no-deal scenario – which include many of his own ministerial … [Read more...] about ConsumerBusinessSpotlightConsumerBusinessSpotlightConsumerBusinessSpotlightConsumerBusinessSpotlightConsumerBusinessSpotlight Why is Dominic Raab talking up a no-deal Brexit?
Jacob Rees-Mogg is taking charging of “Project Hope”, the counterpart to the “Project Fear” that Brexiteers often deride. It is an ambitious project, with some awesome claims attached to it. Economists often toss gigantic sums of money around as casually as they might chuck their socks into the laundry basket. According to Jacob Rees-Mogg, quoting the pro-Brexit group Economists for Free Trade, the UK economy could enjoy a boot of some £1.1trillion from a WTO option Brexit (the so-called “No Deal” scenario). For context, this is about two thirds of the entire national income for a year, some £1,100 billion, or – deep breath – £1,100,000,000,000. It is plausible, if you make certain assumptions. If Britain really became a truly “free trade” economy – at least for imports – then common sense tells us that the country could “shop round” abroad for the cheapest sources of everything from … [Read more...] about ‘Jacob Rees-Mogg’s ideas for the economy would leave us with a Del Boy Brexit’
A ‘no deal’ Brexit would cost the UK four times more than the EU-27 and result in a “chaotic and severe” hit to its economy, experts from the UK in a Changing Europe think tank concluded in a paper published on Monday (3 September). The 30-page analysis by the think tank warns that there are “a potentially infinite range of potential no deal scenarios, from an exit with no bilateral agreements in place to one that has a wide range of emergency deals on things from aviation to medicines.” Striking a series of emergency agreements on a sector-by-sector basis would require the UK parliament to adopt between 800 and 1000 pieces of secondary law ranging from airline safety certificate to medicine testing. But the paper argues that the UK’s major manufacturing and logistics firms would be most exposed to a ‘no deal’. “The most obvious cases here are aerospace firms such as Airbus, major automobile manufacturing firms such as Nissan, … [Read more...] about ‘No deal’ Brexit would be ‘chaotic and severe’, warns expert group
It has also recommended that any business conducting cross-Border trade on the island of Ireland seek advice from the Irish Government about the type of preparation required for a "doomsday" scenario. UK Brexit Secretary Dominic Raab released the first tranche of "technical notices" detailing preparations for a no-deal Brexit yesterday. During the subsequent press conference, he reiterated Britain's commitment to its obligation under the Good Friday Agreement. "We're saying loud and clear that we won't allow anything to disrupt the terms of the Belfast Agreement or return to any form of hard border, at the Border," Mr Raab said. "And that's a clear commitment and we have no intention of relenting from it." However, the long-time Brexiteer gave no detail on how this could be technically or legally administered, given that Ireland would be in the EU and the UK would be a third country. Both sides have a legal requirement to erect a border. When asked if that meant making special … [Read more...] about ‘Ask Irish for advice,’ UK government tells cross-Border firms