Brexit Development Update 11-10-19

Baskar Sundaram
Baskar Sundaram
Brexit

Top 5 Brexit News This Week

EU countries have agreed to ‘more serious’ Brexit talks after a meeting between Brexit Secretary Steve Barclay and EU chief negotiator Michel Barnier. A summit in the coming week is being seen as the last chance to agree on a deal before the deadline of 31st October. Earlier in the week, prominent EU leaders were not confident about the chances of a Brexit deal agreeable to both sides (…)

 

PM Boris Johnson & his Irish counterpart Leo Varadkar met at Thornton Manor in North-West England, terming the meeting as positive. The leaders agreed that the meeting was encouraging enough to pave the way for further discussions in Brussels. Issues, however, remain over “consent and democracy” and ensuring there is no customs border (…)

 

A legal bid was rejected in Scottish Court, forcing PM Boris Johnson to ask for a Brexit delay in case no deal is struck with the EU in less than two weeks. The court rejected the plea citing that the British PM had previously given assurances on seeking an extension in case talks fall through (…)

 

The Institute for Fiscal Studies (IFS) predicted that Britain’s budget deficit is estimated to more than double, reaching almost £100 Bn in case of ‘no-deal’, subjecting the country to acute economic austerity. IFS suggested the government to wait for more transparency on Brexit before setting long term budget goals and also avoid any income tax cuts (…)

 

Britain’s parliament demanded an update on the mitigation strategy prepared by the UK government to counter any disruption in the case of a ‘no-deal’. To that effect, the government published a 155-page document titled “No-Deal Readiness Report” covering critical issues such as borders, citizens’ rights, energy, industry impact and Northern Ireland (…)

EU Speaks

German Chancellor Angela Merkel highlighted the concerns in case of no-deal Brexit to delegates of Germany’s largest industrial union – IG Metall in Nuremberg, Germany. She claimed that Germany ought to minimize the negative impact of Brexit if there is a disorderly Brexit (…)

French President Emmanuel Macron announced that Britain will have to ‘face consequences’ if it decided to proceed with a Brexit that is unacceptable to the other 27 EU countries (…)

Finnish Minister for European Affairs, Tytti Tuppurainen told the bloc’s lawmakers that the European Union is ‘prepared to face’ a no-deal Brexit, which is fast-becoming a dangerously realistic scenario (…)

Businesses Respond

Paul Everitt, Chief Executive ADS Aerospace & Defense Trade Body raised concerns to cabinet office minister Michael Gove and Brexit secretary Steve Barclay about surrendering membership of the European Aviation Safety Agency (EASA). He warned that the regulatory divergence would pose a serious risk to the Aerospace & Defense sector (…)  

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