Brexit Update and Autumn Statement
The Corporation is monitoring Brexit discussion closely and working with a wide range of businesses, regulators and trade groups. You can monitor the work and statements here - https://www.cityoflondon.gov.uk/business/eu-and-regulation/Pages/city-corporation-brexit.aspx
Recently the Chancellor gave us his Autumn Statement and appeared before the Treasury Committee to discuss it. The Chancellor said there is an ‘emerging view’ among businesses, regulators, civil servants and politicians that having ‘a longer period to manage the adjustment between where we are now…and where we get to in the future…would be generally helpful.’
Last week Brexit Secretary David Davis appeared before the Brexit select committee to discuss the UK’s negotiating strategy for exiting the EU. He said the Government's objective was to have as close to the current level of single market access as possible, not just WTO terms. Aligning with the Chancellor’s recent statements Davis said he was not opposed to a transitional arrangement to allow phased implementation of negotiated changes. He told MPs that no decision had been made about the UK’s future membership of a customs union.
These combined statements are the first serious sign that negotiations are looking beyond 2019. I will continue to share periodic updates but for more information or to engage with the Corporation please use the web link above.