Posted on 01/18/2020 1:45:08 PM PST by Cronos
Businesses have predicted price rises after UK chancellor, Sajid Javid, said there would be no alignment with regulations once Britain’s exit was made official.
Javid said the Treasury would not lend support to manufacturers that favour EU rules as the sector had had three years to prepare for Britain’s transition.
In an interview with the Financial Times, he said: “There will not be alignment, we will not be a rule taker, we will not be in the single market and we will not be in the customs union – and we will do this by the end of the year.
“We’re … talking about companies that have known since 2016 that we are leaving the EU.”
... alarm business leaders in key sectors including car manufacturing and agriculture who fear the price of non-alignment will be more complex trade barriers for those who export and import with the rest of the EU.
The Confederation of British Industry (CBI) on Saturday said alignment supported jobs and competitiveness for many firms. The group’s director general, Carolyn Fairbairn, said business “recognises there are areas where the UK can benefit from its future right to diverge from EU regulation” but urged government “not to treat this right as an obligation to diverge”.
...The co-executive director of the British Chamber of Commerce, Claire Walker, said that while business communities were prepared to be pragmatic about coming changes to regulation, “uncertainty around the extent of divergence risks firms moving their production elsewhere”.
“The government must clearly communicate these changes in a timely way and provide substantial support to help firms adapt,” Walker added. “Otherwise they will struggle to make the most of new opportunities as Britain sets its own trading policies.”
(Excerpt) Read more at theguardian.com ...
The Guardian -read no further.
Let’s hope he’s a better Ayn Rand fan than Paul Ryan turned out to be!
All Johnson needs to do is ask for another extension from the EU. Problem solved.
“The Guardian -read no further.”
exactly ...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.