The Brexit Dilemma
On 31st December 2020, the United Kingdom will end its transitional arrangements with the European Union. This brings forth new issues that the United Kingdom will face in the future. To name a few, the regulatory environment and the relationship between trading partners and UK businesses will be affected by the ongoing Brexit developments.
Read our Brexit articles….
Recently, influential legal and commercial entities have joined the bid for the UK’s accession into the convention by writing to Charles Michel, president of the European Council. These include the law societies of England and Wales, Scotland and Northern Ireland; City of London Corporation; British Retail Consortium; British Chamber of Commerce EU & Belgium; Which?; and the Chambers of Ireland.
What just happened?
On Thursday 10 September, Michael Gove met with European Vice President, Maros Sefcovic.[1] This emergency meeting was scheduled after the UK has proposed controversial legislation to override parts of the Withdrawal Agreement which was signed last year. The proposed Internal Market Bill, proposed on the 9 September, aims to ensure that goods continue to move easily between the UK’s four nations post-Brexit.
What just happened?
The UK Government has proposed a controversial Internal Market Bill which would come into effect from 1 January 2021.
What just happened?
Lufthansa has accepted the €9billion bailout deal, as the latest EU’s approval on State aid after those to major European airlines such as Air France and SAS Scandinavian. Meanwhile, Ryanair CEO O'Leary has filed complaints to the EU about these discriminatory government support against competition rules.
What has just happened?
The coronavirus pandemic has knocked the Brexit negotiations. However, Michael Gove (Cabinet Office minister), told MPs that the business turmoil caused by coronavirus would not cause the government to seek an extension to Britain’s post-Brexit transition period.
What just happened?
“British fishing grounds are first and foremost for British boats.”. A flag-waving statement made by Britain who is holding the submission of detailed proposals to fishing rights to Brussels.
The woes of Brexit continues as businesses seek to relocate UK jobs and operation to the EU. To combat this the Bank of England is “demanding that lenders seek approval” from the Bank prior to relocation. Following concerns that EU regulators are asking more and more firms to move back to the continent.