Tuesday, 20 November, 2018

HuffPost Verdict: Theresa May's White Paper Pleases Neither Brussels Nor Brexiteers

GETTYSimon Coveney urged Mrs May to speed up Brexit talks GETTYSimon Coveney urged Mrs May to speed up Brexit talks
Jeannette Daniel | 14 July, 2018, 02:47

President Trump said he thinks Boris Johnson would make a great prime minister, and the Britain's trade relationship with the USA could come to an end if British Prime Minister Theresa May follows through with the so-called "soft" Brexit blueprint. While there would be "no tariffs on any goods", Britain's vast services sector will suffer significant disruption. Banks in particular are set to lose current levels of access to the European Union market.

Mrs May faces a huge task trying to persuade European Union negotiators to accept that the proposals are viable, while also keeping her Conservative party and Parliament on side.

Not only footballers become anxious when time starts running out. The news of the interview broke in tweets from a Sun reporter while Mr. Trump was at a gala with May to commemorate his visit.

May went ahead with publishing the 98-page "white paper" despite the resignation of two pro-Brexit Cabinet ministers and a growing rebellion from within her own party. Mr. Trump said he advised May how to manage Brexit, but she didn't listen.

"I don't know if that is what they voted for", he said.

Even so, May has appealed to European negotiators to "engage" with her blueprint in the same spirit of respect that she said her government was taking toward the EU's own principles and red lines.

"Our proposal is comprehensive". We need to rise to the challenge and grasp the opportunities'.

'This is less than mutual recognition, but it is more than the EU's equivalence regime.

Britain has also set out a complicated structure for supervision of the new relationship that would allow the two sides to discuss rule tweaks and include a mechanism for solving disputes.

Everything else is for future relationships.

More news: Real Madrid release Neymar transfer statement: Premier League clubs on red alert

"The Common Rule Book will not be Common it will be EU law, interpreted by the EU Court with the United Kingdom subjected to EU fines for non-compliance".

Our Brexit Insider Facebook group is the best place for up-to-date news and analysis about Britain's departure from the European Union, direct from Business Insider's political reporters.

"However, as today's paper makes clear, simply relying on existing equivalence arrangements will not provide financial institutions with effective market access that enables them to serve their customers".

- On rules of origin which govern whether goods are treated as EU-made, Britain is asking for no changes to current arrangements.

Trade agreements require mechanisms to make the deal work.

- Britain acknowledges its position on cooperation over the €10 billion (S$15.9 billion) Galileo satellite navigation programme is at odds with that of the EU.

According to leaked government documents seen by the Financial Times, and also reported by The Guardian, emergency plans are being drawn up to power the region using "thousands" of barges carrying fossil fuel-powered electricity generators.

- On immigration, the document says Britain will continue to be "open and tolerant", while ending the free movement of people.

CBI director general Carolyn Fairbairn welcomed the plan, saying it put "pragmatism before politics", but warned there were still "gaps" on the future Value-Added Tax regime and customs systems.

Prime Minister Theresa May's government is trying to satisfy Britons who voted for their country to leave the bloc, but to set an independent course without hobbling businesses, security agencies and other sectors that are closely entwined with the EU.

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