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On Thursday afternoon, Dominic Raab, Minister of Broadcasting, presented Premier Theresa May's new plan and the British government's plan for the future of the EU.
– P The way preserves the economic and constitutional integrity of the United Kingdom, taking over British sovereignty, Raab said in the House of Commons, adding that the plan is a continuation of the plan. Government agreement at the Checkers meeting last Friday.
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The government's proposal adds to free trade on a number of industrial and agricultural products, while the financial sector in London can lose a lot
"A blow to the financial sector"
The London financial community reacted strongly to the new information
– It's a blow to the UK financial services industry and professionals, says Catherine McGuinnes, in the City of London Corporation, the chosen authority in the financial center of London, at the BBC.
She says loosening ties with Europe will make the financial sector less able to create jobs, generate tax revenue, and contribute to economic growth.
- In June 2016, 51.9% of British voters voted in favor of Britain's signing out of the EU, known as Brexit. A two-year graduation process began in March 2017. Since then, there has been disagreement over whether the announcement should be "hard" or "soft".
- Brexit "hard" is a complete violation of the EU. This would include a violation of the EU's internal market and no agreement on the "four freedoms" – the free movement of people, goods, services and capital.
- Brexit "sweet" often refers to an agreement guaranteeing access to the inside the market, as well as separate arrangements on how the country will be tied to the tax system and to the country. customs union of the EU. Among other things, Norway, Canada, Turkey and Switzerland have different solutions.
- On Friday, the British government agreed on the way forward, known as the Checker Agreement. He is particularly in favor of a free trade system with the EU for industrial and agricultural products.
- On Monday, Brexit Minister David Davis and Foreign Minister Boris Johnson expressed their positions. They were replaced by Dominic Raab and Jeremy Hunt.
- A ratification agreement is expected to be completed in October this year. The final announcement of the EU will take place on March 29, 2019.
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Previously, Theresa May aimed to reach an agreement with the EU on mutual recognition, in which the UK and the EU recognize the respective regulations in areas such as banking, management and insurance. That's what the London financial community has agreed to wish for.
The new plan is based on more flexible cooperation, building on the existing EU acquis, where foreigners such as the United States have rules equivalent to those of the EU. 39; EU. financial areas. Brexit's plan implies that Theresa May now accepts that the UK financial sector will no longer have equal access to the European market. market.
Since the agreement was announced last Friday, British Prime Minister David Davis and Foreign Minister Boris Johnson have withdrawn from their positions in protest
Johnson said the promotion of new agreement goes to Davis criticism that the Prime Minister can not cut the necessary links with the EU.
Ellen Bramness Arvidsson is Director of Finance Norway and she is not surprised by the new agreement.
– In fact, it was the launch of the European Council last March, namely that they aim to give Britain access to the market in the same way that it does. 39 access to other third countries, "says Bramness Arvidsson.
She believes that the rest of the world has waited for the British to put their finger in the ground and that which has been the UK's favorite agreement for mutual recognition of the EU and British acquis has not been watched carefully.
– In Brussels, they said that such a rule would be the same as leaving the Union, but at the same time do not do so, says Arvidsson, adding:
– With regard to Regarding the Norwegian financial industry, we are not particularly surprised about this development. (Terms)
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