Brexit, The Economy and House Prices (Part 2)

kabayiri

economic wrote: »

exactly. the only reason I take an interest in it is to protect my standard of living through management of my wealth.

I really don't understand those who would tie one hand of our negotiating team behind their backs.

The stakes are high on both sides. There's nothing wrong with going in with ambitious expectations. I'm sure Team Barnier are doing the same.

setmefree2

UK will not import cheap food after Brexit - Gove

Michael Gove has said current protections that give UK consumers access to high-quality food will not be undermined.
Trade barriers in the UK that prevent imports of cheaper food from countries with lower production standards will not be removed after Brexit, newly appointed Defra Secretary Michael Gove has said.

http://www.farmersjournal.ie/uk-will-not-import-cheap-food-after-brexit-gove-286314

setmefree2

UK hires top New Zealand trade negotiator to head post-Brexit deals

Britain has hired New Zealand’s former trade head Crawford Falconer as chief trade negotiation adviser to manage the UK’s free trade deals once the country leaves the EU. The Department for International Trade (DIT) has appointed the former ambassador to the World Trade Organisation (WTO) because the UK has little recent experience in trade talks - for the past 40 years trade deals have been managed by Brussels.
Mr Falconer will be responsible for developing and negotiating free trade deals with countries outside the EU; striking deals with a range of countries covering specific sectors and products; developing the DIT as a “centre of excellence for negotiation and British trade”; and supporting the UK as a member of the WTO.

“As the UK prepares to leave the EU, it will be top of the Government’s agenda to turn the enormous new opportunities opening up for the UK into win-win agreements with our trading partners around the globe,” said Mr Falconer.
“That will bring tangible new gains to us at home, and it will bring gains to those trading partners that join us. As the world’s fifth largest economic power, the UK will bring much needed leadership to the international trade agenda. I am absolutely delighted to join this hugely exciting new journey.”
He is a joint citizen of both the UK and New Zealand. Brexit negotiations start on Monday, while Mr Falconer will begin in his role later this summer.
International trade secretary Liam Fox said the appointment shows the UK is “attracting the very best global talent” to “further build our trade capacity”.
The new chief has also been made a head of profession - a term which indicates trade negotiation will be deemed a separate "profession" within the civil service.
That designation indicates the staff are specialists with their own clear career path and training opportunities, rather than generalists who move around different parts of Whitehall.
Mr Falconer argued that Britain should seize the moment to inject some fresh impetus into the WTO, revitalising efforts to promote free trade around the world. “The WTO has plateaued because it hasn't got the kind of leadership and innovative thinking that will take it to the next level,” said Mr Falconer at the prosperity UK conference.
"The UK now has a unique opportunity, within the WTO, to provide economic leadership for the world trade agenda - and my God, doesn’t the world need that right now.
“Many of the leading economies in the world have lost the plot. An economy like the UK is going to be an independent and powerful voice for reform and change in the global economy, and that is going to be a massively refreshing political voice in Geneva [at the WTO’s headquarters].”
Britain has to set up its own schedule at the WTO - the terms on which it applies tariffs and quotas - by taking a chunk of the EU’s schedule. Mr Falconer told the conference that Britain will have to reassure the non-EU members of the WTO that none of them will be worse off under the new arrangement, most likely by setting the schedule in line with historic trading levels.

http://www.telegraph.co.uk/business/2017/06/16/uk-hires-top-new-zealand-trade-negotiator-head-post-brexit-deals/

setmefree2

Prof Falconer said he was not expecting the job to be easy.
"I'm used to difficult negotiations. I've yet to find an easy one."

Professor Falconer plans to leave for London soon, for what will be a five-year contract.
"It was a tough decision ... to up sticks and leave. I had come back to New Zealand from Europe, and had no plans to do anything else other than what I am doing at Lincoln and then this came out of the blue.
"It will be incredibly exciting," he said.

http://www.radionz.co.nz/news/national/333257/i-m-used-to-difficult-negotiations-nzer-on-uk-appointment

setmefree2

DUP will support Conservative's Queen's Speech

She said it should be no surprise that the DUP wants a reference to the devolution of Corporation Tax in the deal.
The Stormont Executive has long aspired to reduce its Corporation Tax rate.
Previous Northern Ireland executives have wanted to bring it down to 12.5% to match the corresponding rate in the Irish Republic.
Previously, the Treasury has argued that Stormont would need to pay for such a move by taking a cut to its block grant from London of several hundred million pounds a year.

However, Mrs Foster told the BBC's Inside Politics programme that her party wants to explore whether that remains the case because, in the light of Brexit, they argue that European Union (EU) state aid rules should no longer apply.

On Brexit, the DUP leader said she believes high tech equipment to monitor goods crossing the Irish border will be ready in time for the UK's departure from the EU. She said developing such a capacity would involve cooperation between the private and public sectors.

http://www.bbc.co.uk/news/uk-northern-ireland-40303899

Crashy_Time

gfplux wrote: »

A reminder that the clock is ticking. From the Times Brexit weekly email. Yesterday.

"As of 10.20 this morning there were 652 days, 13 hours and 40 minutes until the UK leaves the European Union, and the clock continues to count down.
In reality the actual time to get a deal is significantly less, since it will have to be cleared by both the 27 member states and the European parliament. And if no deal is done and the 27 do not unanimously agree to extend the talk then Britain simply stops being a member of the EU at the end of March 2019.
That would not be a hard Brexit. It would be a disastrous, chaotic Brexit that could ground flights, lead to temporary food shortages and collapse the economy.
Such a scenario is still very unlikely but it cannot now be ruled out altogether."

Why would flights be grounded?

Rinoa

setmefree2 wrote: »

http://www.telegraph.co.uk/business/2017/06/16/uk-hires-top-new-zealand-trade-negotiator-head-post-brexit-deals/

Further confirmation, if such were still needed (some folks are slow on the uptake) that:

• We're leaving the single market
• We're leaving the customs union

:T:T:T

Crashy_Time

always_sunny wrote: »

That scenario is not so unlikely and indeed it'll be fairly disruptive but it is the hard Brexit that people are looking for and may need to get. They're backing Brexit but not the consequences. The EU may just help with that, cut the country lose and free from the "shackles" to find these new arrangements.

Many have the assumption that the UK has its own gravity and rules the world but things have changed, a reality check may do good in the long run.

UK doesn`t need to rule the world, just itself, the idea that the EU is a financially stable club worth joining is laughable, but people know this or they wouldn`t have voted to leave.

.string.

By the way, in case you guys have not seen this

Guy Verhofstadt to UK: You can stay in EU, but lose perks

I don't know if he is correct in thinking the EU Parliament has that power, but it certainly consolidates my view, as an ex avid Remainer, that since the Referendum decision was made it has been in our national interest to pursue Brexit with all the vigour that we can. I don't want to go back to a hostile Europe much as I would have preferred not to leave in the first place.

Those that put obstacles in the way of Brexit are really not helping. A touch of realism is overdue.

gfplux

Crashy_Time wrote: »

Why would flights be grounded?

I don't pretend to understand the complexities of many of these topics but this has been spoken about a number of times. Particularly Ryan Air and Others.
Apparently by leaving the EU Britain must negotiate to stay in this
https://en.m.wikipedia.org/wiki/European_Common_Aviation_Area

Don't ask me why or how.