British Finance Minister Philip Hammond said on Thursday he wanted to ensure that the country’s financial services industry was able to continue recruiting large numbers of workers from the bloc, a major concern of global banks.
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In reply, Brexit Minister David Davis said: “The department is now assessing the overall requirement for legal advice and the associated funding requirement over the next 12 months”.
Britain’s former trade tsar has come down hard on Tory ministers, warning that promises to have a series of worldwide business deals signed before Britain leaves the European Union are “highly unrealistic”. “We are the world’s fifth largest economy”, he said.
European Commissioner Pierre Moscovici plans to unveil proposals in the coming weeks on a common tax base for multinationals operating in the EU, telling reporters the initiative was about the tax base rather than rates, which will remain in the hands of member states.
Former specialist adviser to the House of Lords EU select committee John Philpott said it made sense to treat skilled and unskilled migration differently.
Brussels. European parliamentarians have urged Australia to put planned free trade talks with Britain on ice, concerned that Australia will play off Britain and European Union against each other. “Otherwise not only will we lose out on them but they will go to other hubs who will then compete more effectively against us”, he added. “But frankly there isn’t much we can seriously talk about in detail, which is really what trade deals are all about, until we know what their relationship will be with the European Union”, he said, on condition of anonymity due to the sensitivity of the subject.
When will the Government start talking to its European Union partners about Brexit?
“She said the United Kingdom would take time to prepare for the negotiations, reiterating that Article 50 will not be triggered before the end of the year”, a government spokesperson said.
Up to now, May has refused to pin down a specific date to trigger the article 50, saying that her government needs time to prepare for negotiations.
But for higher tech products, such as automobiles and parts (10%) and nuclear reactors (5.4%) for instance, or many fast moving consumer goods, such as aftershave (5.4%) and shrimps and prawns (12%), or quality materials (for example 8% on woollen fabrics), there could be some real headaches for British exporters should the European Union refuse a Brexited Britain a privileged trade relationship.
What does Britain want from Brexit?
A senior German government official told Reuters: “That is not about competing with North Atlantic Treaty Organisation but we need a stronger Europe”.
“With the prospects so uncertain I don’t see many other administrations being prepared to second people. Or we could diminish its intensity and power”.
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“Services is just technically more complicated … just very, very hard to work out what the value is, how much is it worth that you change your regulation a bit?”, said Winters, adding that regulators would likely need to be involved in talks.
