Government reassured Nissan on avoiding tariffs and bureaucratic impediments in EU trade talks
The UK Government told Nissan it would seek tariff-free access to EU markets for the motor industry as part of Brexit talks, Business Secretary Greg Clark has said. He told the BBC Andrew Marr show that, while formal negotiations with the EU have not yet begun, "I was able to convey what our demeanour would be, in those negotiations." He said it would not be in either side's interests for tariffs to exist in the motor industry, adding, "So what I said is that our objective would be to ensure that we have continued access to the markets in Europe and vice versa without tariffs and without bureaucratic impediments and that is how we will approach those negotiations."
Meanwhile, The Sunday Times reported that Liam Fox, the international trade secretary, has privately warned that Chancellor Phillip Hammond must not go on a spending spree because it will make voters think there is a reason to panic over Brexit. Fox is quoted as saying, “We need common sense not hyperbole and panic. There’s no reason to panic. If you go on a spending spree people will think there’s a reason to panic.”
Separately, writing in the Mail on Sunday, Nadhim Zahawi, who backed Brexit in the referendum campaign, argues: “There is no need to create unnecessary instability. It would not be good for the EU and it wouldn’t be good for us either. If that means we have to pay something to the EU to achieve the best possible Brexit, then we should.”
Sources: BBC, Mail on Sunday: Zahawi, The Sunday Times
Dutch Prime Minister warns the government may revoke support of EU-Ukraine agreement
Dutch Prime Minister Mark Rutte has warned that his government may be forced to formally revoke its support for the EU-Ukraine association agreement. Rutte’s minority Liberal-Labour coalition has not yet found the support it requires from the opposition in the Dutch Senate to ratify the treaty. He warned that the Netherlands’ failure to ratify damaged European unity, saying, “This is larger than the Netherlands alone. We’re part of a broader international community acting as one front for stability on our borders and against aggression…I need to do everything to bring that view across and to convince the parties still not convinced.”
Meanwhile, First Vice President of the European Commission, Frans Timmermans, urged Dutch opposition members to support the agreement despite the results of the April referendum where voters rejected the treaty. He said that a “non-binding referendum does not prevent MPs from making a decision on their own,” adding, “Citizens gave advice, but it’s up to the politicians to take responsibility.”
Sources: Financial Times, Politico
EU and Canada sign CETA agreement
The EU and Canada have finally signed their long-delayed free trade agreement (CETA), following an accord with Belgium’s regional parliaments, including the Walloon administration, which gave their approval on Friday for the federal government to authorise the deal.
Sources: BBC, Financial Times, Politico
Northern Ireland First Minister says Brexit is economic opportunity but border issues with Republic need to be resolved
Brexit presents the biggest economic opportunity for the UK in decades, Northern Ireland’s First Minster, Arlene Foster, has told her party’s annual conference. Foster also criticised the Irish government for allowing “political instability in Dublin” to drive its decision making “as much as any concern for Northern Ireland.” Asked by Reuters if Northern Ireland might have a special status in relation to either the customs union or the EU’s single market, Foster said, “We have to recognise that we are the only part of the kingdom with a land border with the European Union so all of those issues have to be sorted through in the negotiation.”
Meanwhile, the High Court in Northern Ireland on Friday dismissed a legal challenge against Brexit, ruling that there was nothing in the 1988 Good Friday agreement that prevented the British government from invoking Article 50. Downing Street has welcomed the decision, saying it would allow the government “to trigger Article 50 as planned.” However, the Belfast Court defers the decision on whether the government must seek parliamentary approval to the English High Court.
Sources: BBC, Reuters, Reuters
European Economic Commissioner says the four freedoms “work together”
In response to questions on post-Brexit trade arrangements at a conference in Bratislava, Reuters reports European Economic and Financial Affairs Commissioner, Pierre Moscovici, as saying the four European freedoms of the internal market [goods, services, capital and people] “work together.” According to Reuters, he added that Britain would remain a full and respected member until exit.
Source: Reuters
The Financial Times: Carney ready to serve full term at Bank of England
The Financial Times today reports that Mark Carney stands ready to serve a full eight-year term as governor of the Bank of England, amid speculation that he might step down early. He is expected to announce his decision this week.
However, the Sunday Times reported that sources close to Carney have suggested that he has decided to resign in 2018 at the end of his five-year term, rather than serve an extra three years.
Sources: The Financial Times, The Sunday Times
British exporters’ confidence up after fall in Sterling
A Grant Thornton survey has found that the proportion of businesses expecting exports to increase exceeded those expecting a fall by 19 percentage points in the quarter from July to September. That compared to a 9 percentage point gap in the prior three months. Of the companies surveyed, the proportion with a positive outlook on revenues fell from 52% to 51%, those positive on employment fell from 22% to 20%.
Source: The Financial Times
Fisheries Minister: Brexit will address “imbalance” for British fishermen
George Eustice, Minister of State for Agriculture, Fisheries and Food, is quoted by the Daily Telegraph saying, “It’s pretty clear that Brexit can be a good deal for British fishermen because we regain control. The equation is that they have 1 million tonnes of UK fish and we get about 150,000 tonnes of fish of various species…. The truth is that things will change in a very fundamental way. In the Channel the French get twice as much plaice and three times as much Dover sole as we do, there is an imbalance.”
However, Daniel Lefèvre, who leads the Lower Normandy Fisheries’ Committee, is quoted saying, “The problem is that the British see only the business side of things while we are thinking about conservation too.”
Source: The Daily Telegraph
Blair’s calls for a second referendum dismissed by Downing Street
Speaking about Brexit on BBC Radio 4’s Today programme, former Prime Minister Tony Blair said, “The issue is not whether we ignore the will of the people, but whether, as information becomes available, and facts take the place of claims, the ‘will’ of the people shifts.” He argued that if it became clear that new EU arrangements were unfavourable, “there has got to be some way, either through parliament, an election or a referendum” to re-decide.
However, a spokesman for Prime Minister Theresa May rejected his calls for a second referendum, saying, “The PM has been absolutely clear – the British people have spoken, we are listening, we’re going to leave the European Union…Not only has the PM been clear here but she’s also been clear when she’s met European leaders. There will be no second referendum.”
Sources: The Times, The Independent
European Budget Commissioner moves to World Bank
European Commissioner for Budget and Human Resources, Kristalina Georgieva, will leave the Commission in January to become Chief Executive of World Bank.
Source: Financial Times
Renzi vows to provide reconstruction funds after earthquake "without any respect for technocratic rules" from Brussels
Matteo Renzi, the Italian Prime Minister, responded to the earthquake that struck Italy this weekend by saying, “We have the necessary resources and we will put them at the people’s disposal without any respect for technocratic rules which undermine our nation’s identity and territory.” This comes amidst a dispute with Brussels over Italy’s adherence to European budget deficit rules. He added, “Europe lays out every detail on how we should catch swordfish, but then it does not help us rescue children in the Mediterranean.”
Source: El País
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