Wednesday, 21 November, 2018

United Kingdom won't pay to access single market post-Brexit

The Foreign Office said the'informal meeting was'productive The Foreign Office said the'informal meeting was'productive
Kenny Thornton | 13 January, 2018, 10:04

Commissioned by Mayor of London, Sadiq Khan, the analysis also suggests that the United Kingdom could receive £50bn less investment by 2030 and a "lost decade" of significantly lower growth.

The news organisation reported that Staley told the PM that high taxes and red tape were impacting financial services firms based in the United Kingdom and making it harder for them to compete against U.S. rivals.

"London does least worst, because we have a higher concentration of high-value jobs, we are more resilient, more able to recover from economic shock, which could lead to the inequalities between London and the country getting worse ..." he said on BBC Radio 4's Today programme.

No Official Confirmation From Pakistan on Suspension of Cooperation
Reports also suggested that the USA decision to block aid to Pakistan could affect about 2 billion US dollars worth of assistance. Pakistan says the United States is scapegoating it for US failures in Afghanistan.

If the United Kingdom leaves the European Union in March 2019 with no deal on the single market, customs union or transition arrangements - which remains a real possibility given the short amount of time left to secure a deal and the government's mishandling of the negotiations to date - there could be 482,000 fewer jobs across the entire United Kingdom, together with 15% - or £46.8bn - less investment than with a continuation of the status quo. Britain and the European Union will soon begin the much harder task of defining their future trading relationship, after settling the broad terms of their divorce settlement last month.

"Business leaders have unanimously emphasized the need for as much clarity as possible", said the spokesperson of Theresa May after meeting with Finance Minister Philip Hammond with Downing Street Financial Services Managers 10.

"The results show that Brexit will not only reduce the size of the United Kingdom economy, compared to what may have happened if the United Kingdom remained in the Single Market and Customs Union, but also put it on a slower long-term growth trajectory". "The completion of the first phase of the talks must have given them confidence", he added. "The UK government is increasingly recognising the importance of European Union labour in key sectors, as well as committing to remain engaged with European Union programs".

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