Brexit Update - 8th January 2020

John Baddeley John Baddeley 08 January 2020

Wake Smith chairman John Baddeley looks at the latest Brexit news...

As we launch into the new year, Brexit is way down the media agenda with rising tensions in the Middle East making the headlines.

However, we are rapidly approaching the 31st of January, the date upon which we formally leave the EU and start negotiating on the framework of a deal.

The Prime Minister is facing increasing pressure of his own creation if he is to stick to his pledge not to extend the negotiation period beyond the 31st of December deadline, which leaves precious little time to actually formulate a working agreement for future trade with the EU.

Aside from the basics of a trade deal, Boris Johnson will also need to make clear how the UK will align, if at all, with the EU on matters including workers' rights and ways of protecting industry from EU tariffs and regulatory hurdles.

The ever present threat of a no deal Brexit is still in the offing and this continues to hold many industries and investors back until there is greater clarity and a more measurable outcome.

Opposition parties are already tabling amendments to the Prime Minister's withdrawal agreement including yet more efforts to delay the UK's exit from the EU if an agreement cannot be formalised by the middle of June.

The Conservative majority means that these amendments are unlikely to be successful, but the EU has also expressed 'serious concerns' over negotiating the future UK/EU deal within an eleven month timeframe.

Within all of these machinations, Boris Johnson has remained steadfast that the UK will leave the EU customs union, exit the single market and terminate the overall legal power of the European Court of Justice in UK matters.

This creates quite a bitter pill for the EU to swallow, having had the upper hand in all of the negotiations prior to Boris Johnson taking the Conservative party lead and it raises the question of how much they might finally concede to retain trade of significant value with the UK.

For now at least, the UK Government is playing a determined game of brinksmanship with European counterparts. Whether there is a plan B or not remains to be seen...

Tags

Archive

June 20221May 20227April 20223March 20223February 20223January 20224December 20214November 20213October 20215September 20216August 20212July 202111June 20218May 20216April 20212March 20219February 20218January 20219December 20208November 202013October 20209September 20208August 20203July 20208June 202016May 202013April 20209March 202016February 20209January 202011December 20199November 20199October 201911September 20197August 20194July 20196May 20198April 20196March 20193February 20195January 20194December 20186November 20185October 20182September 20185August 20184July 20189June 20184May 201810April 20185March 20184February 20184January 20183December 20175November 20178October 20177September 20179August 20175July 20176June 201710May 20176April 20178March 201711February 20177January 201713December 20169November 20167October 201610September 201610August 20166July 20167June 20163May 20162April 20166March 20162February 20164January 20165December 20153November 20155October 20156September 20156August 20157July 20157June 20157May 20156April 20159March 20156February 201510January 20156December 20145November 20144October 20142September 20143May 20144March 20146February 20144January 20142December 20132November 20133September 20134July 20132June 20132May 20133April 20131March 20133February 20133January 20136December 20121November 20123October 20122August 20122July 20128June 20123April 20123March 20121January 20124December 20112November 20111October 20112September 20113August 20113July 20117June 20119May 20117April 20115March 20119February 20118January 20111December 20101October 20102September 20102August 20103July 20106June 20101May 20102April 20106March 20102February 20103January 20102December 20095November 20092October 20092September 20092August 20091July 20095June 20095May 20093April 20093March 20093February 20091January 20092November 20082October 20082September 20081August 20083July 20081January 20082

Featured Articles

Contact us