May in the lower house: the Brexit plan meets quickly with protest

Prime Minister May wants a free trade zone and new financial rules with the EU for his country after Brexit. Critics have come quickly from the financial center of the city of London: The planned connections to the EU are too loose.

Following the rebellion in his cabinet, British Prime Minister Theresa May officially incorporated her Brexit plan into the lower house. In protest against the White Paper, two members of the Brexit cabinet – Boris Johnson and David Davis – had already resigned. The presentation to Parliament also began in a turbulent manner: the meeting had to be temporarily interrupted after many deputies disrupted the statements of Brexit's new minister, Dominic Raab, with interjections. The proposals will create a free exchange of goods between the EU and the UK. This was meant to protect the myriad of supply chains and ensure timely deliveries. To this end, the UK government wants to maintain common rules for all products, including agricultural products. The ideas also seem to aim to prevent rigid border controls between Northern Ireland and Ireland, a member of the EU.

In many areas of the economy, May's government wants to adopt EU rules. On one point, the May government has moved away from the previous line: in the future, the financial services sector, important for the kingdom, will in the future be subject to "new agreements" regulatory ". These should be an extended version of the existing regulations. In the EU, there are so-called equivalent agreements with third countries, which allow financial service providers in these countries limited access to the EU's single market

City of London: More difficult to create jobs

of London. "Today's Brexit White Paper is a blow to the UK's financial and related industries," said Catherine McGuinness, Commissioner of District Policy. With looser connections with Europe, it would be harder for the industry to create jobs, raise taxes and generate growth that would benefit the entire economy. 39; economy.

Federal Finance Minister Olaf Scholz reacts coldly to London's proposals. He regrets that it is "now very difficult for the financial system in the UK," he told a regular meeting of the EU's finance ministers in Brussels. It is clear, however, that the EU must make its own decisions in established institutions. EU proposes "ambitious free trade agreement"

EU chief negotiator Michel Barnier has tweeted that the EU will look carefully at London's proposals in the context of guidelines of the European Council. The offer of the international community is an ambitious free trade agreement that includes effective cooperation in many areas. It also includes a strong partnership on security issues.