Cable Forum - Britain outside the EU

Exchange chief says Brexit has made investing in the UK harder

Intercontinental’s Jeffrey Sprecher was early backer of EU split but now says London has lost value as a trading centre

Brexit has made it hard to invest in the UK, according to the head of the company behind the New York Stock Exchange — a one-time backer of the UK’s split from the EU.

Jeffrey Sprecher, founder and chief executive of Intercontinental Exchange, said the UK had lost value as a trading centre since leaving the single market, and uncertainty around some post-Brexit regulations had made it difficult to invest in British businesses.

“They still seem to be getting their arms around ‘what does a post-Brexit UK look like from a regulatory standpoint’,” he said on Tuesday. “So it’s hard to make investment decisions for us in either London or continental Europe.”

Sprecher is the latest senior international executive to say that the UK has lost its appeal to investors since voting to leave the EU in 2016. One of the world’s biggest infrastructure investors said in October that Brexit was contributing to the UK’s lack of attractive investment opportunities.

He added that Brexit had “complicated” things for the UK, which had historically been a global trading centre. “There was this international move to seeing London as an access point to Europe,” Sprecher said, adding that he now saw the UK as a “foreign country”, and that investments in the US were easier to make.

https://www.ft.com/content/f027f3ec-...4-89c4ba13879f

1andrew1

25-03-2024 22:03

Re: Britain outside the EU

Quote:

Tractors descend on Parliament over 'betrayal' of British farmers in post-Brexit trade deals

Save British Farming claims imported food is falling short of UK standards and farmers are being undercut by their counterparts in the EU who are still receiving subsidies.

Save British Farming claims imported food is falling short of UK standards and farmers are being undercut by their counterparts in the EU who are still receiving subsidies.

https://news.sky.com/story/tractors-...deals-13101822

1andrew1

27-03-2024 21:06

Re: Britain outside the EU

Remember the good old days when we had an EU-inherited trade deal with Canada? This is no 1st April joke.

Quote:

UK car exports to Canada face 6% tariffs within days as trade dispute deepens

Allies in stand-off on how much EU content can be in vehicles as post-Brexit deal runs out

British car exports to Canada are facing tariffs of more than 6 per cent within days, as a deadlocked trade dispute between the two allies descended into further acrimony on Wednesday.

British government officials said Kemi Badenoch, UK trade secretary, felt like she was banging her head “against a brick wall” as the tariff cliff-edge of April 1 approached.

Tensions escalated last month when Canada denied Badenoch’s claim that trade talks were continuing, even though she had unilaterally suspended them on January 25.

The resulting stand-off means that on April 1 a post-Brexit trade arrangement with Canada will expire, leaving some British car exports facing a 6.1 per cent tariff if they contain significant EU content.

https://www.ft.com/content/51f6afd3-...1-354e089d3081

1andrew1

17-06-2024 19:01

Re: Britain outside the EU

Sad to see some electors faith in politicians wiped out due to broken Brexit promises. Non-participation in elections weakens democracy.

Quote:

Why do fishermen feel disillusioned after Brexit?

Fishermen in Devon and Cornwall said they had lost trust in politicians after Brexit "I don’t think it matters who I vote for - they're all lying," said fisherman Dave Toy.

He said it was not what he voted for and as a result he did not see any point in voting in the general election. Dave Toy said he did not see a point in voting in the general election

Fishermen said they had wanted Brexit to deliver an increase in fish stock, but instead had got more paperwork. They cited the introduction of a mandatory catch app to record catches before they are landed, new vessel monitoring systems, inspections and the requirement of medical certificates, which was later removed for existing fishermen.

Fisherman Graham Nicholas said life post-Brexit had been difficult. He said he was angry with the Conservatives but he did not believe any of the major parties would provide the help needed by the industry. "We were stitched up by the Conservatives [but] I don't think Labour would have done any better for us," he said. "The main two parties I haven't got any time for at all."

Fish exporter Ian Perkes, in Brixham, Devon, said he voted for Brexit but was not told of the changes it would involve. He said his business had suffered due to the extra costs incurred by paperwork needed to export fish to the EU. Speaking of the Leave campaign's pledges, he said: "Well we’ve obviously realised now that they didn’t have a clue.

https://www.bbc.co.uk/news/articles/c066r811z7ro

Pierre

17-06-2024 20:42

Re: Britain outside the EU

Quote:

Originally Posted by 1andrew1 (Post 36177332)

Sad to see some electors faith in politicians wiped out due to broken Brexit promises. Non-participation in elections weakens democracy.

https://www.bbc.co.uk/news/articles/c066r811z7ro

Hmmm

Quote:

Fishermen said they had wanted Brexit to deliver an increase in fish stock, but instead had got more paperwork. They cited the introduction of a mandatory catch app to record catches before they are landed

An app, an app that just replaces logs. They’ve always had to record their catch. To move it from paper to an app, is nothing to do with Brexit, it would’ve happened anyway.

Quote:

new vessel monitoring systems,

The only “new” system I am aware of is iVMS for the U12m inshore boats. All the larger boats have had VMS and AIS for a decade. Again nothing to with Brexit, if we were still in the EU iVMS would have been rolled out.

Quote:

inspections

A Bit vague, but I’m sure they were inspected before

Quote:

and the requirement of medical certificates, which was later removed for existing fishermen.

A measure introduced and then removed.

The issue here is, the fisherman thought Brexit would = increased quota, and it didn’t. The other stuff is nothing to do with Brexit.

1andrew1

17-06-2024 20:56

Re: Britain outside the EU

Quote:

Originally Posted by Pierre (Post 36177334)

Hmmm

An app, an app that just replaces logs. They’ve always had to record their catch. To move it from paper to an app, is nothing to do with Brexit, it would’ve happened anyway.

The only “new” system I am aware of is iVMS for the U12m inshore boats. All the larger boats have had VMS and AIS for a decade. Again nothing to with Brexit, if we were still in the EU iVMS would have been rolled out.

A Bit vague, but I’m sure they were inspected before

A measure introduced and then removed.

The issue here is, the fisherman thought Brexit would = increased quota,
and it didn’t. The other stuff is nothing to do with Brexit.

A good point on quotas not being increased.

Exporting to Europe has certainly resulted in more paperwork.

I don't know the detail of their other claims but doubt they would make them up.

TheDaddy

18-06-2024 13:51

Re: Britain outside the EU

Quote:

Originally Posted by 1andrew1 (Post 36177337)

A good point on quotas not being increased.

Exporting to Europe has certainly resulted in more paperwork.

I don't know the detail of their other claims but doubt they would make them up.

No of course you don't know the detail of their other claims because you're not a Cornish fisherman anymore than Pierre is but if brexit taught us anything it's we're sick of experts and know better than them, besides we keep being told everyone knew what they voted for do it's hard to have much sympathy for them

Ms NTL

25-06-2024 15:09

Re: Britain outside the EU

New York Museum of modern art. Exbibit

BREXIT

TheDaddy

25-06-2024 15:30

Re: Britain outside the EU

Quote:

Originally Posted by Ms NTL (Post 36177791)

New York Museum of modern art. Exbibit

BREXIT

I thought it'd be a steaming turd but that'll do, not even got any fish in it :(

Chris

25-06-2024 15:34

Re: Britain outside the EU

Quote:

Originally Posted by Ms NTL (Post 36177791)

New York Museum of modern art. Exbibit

BREXIT

Clever how they collected stuff you can only get if you’re in the EU oh hang on a minute …

1andrew1

03-12-2024 16:17

Re: Britain outside the EU

Let's hope Sir Steir can get a better deal for us here. It would, um, land well with farmers. ;)

Quote:

Brexit deals £3bn blow to UK food exports as Starmer urged to strike deal with Brussels

British food sales to the EU have fallen by almost a fifth since the end of the Brexit transition period, a new report shows

British food sales to the EU have fallen by almost a fifth since Brexit, a new report shows, with campaigners calling on Sir Keir Starmer to urgently cut red tape holding back exporters.

New requirements for physical, documentary and ID checks have complicated food trade between the UK and Europe, leading to a 16.3 per cent drop each year in food exports to the EU, the Centre for Inclusive Trade Policy (CITP) found.

The drop-off has meant a £3bn hit to food exports on average in each of the three years since the end of the Brexit transition period, the report found...

The report piles pressure on Sir Keir ahead of further talks with EU leaders early next year and the renewal of the Trade and Cooperation Agreement (TCA) underpinning UK-EU relations later in 2025.

But the PM has drawn strict red lines around a return to the single market, customs union or the EU itself.

Liz Webster, founder of the Save British Farming campaign, told The Independent that British farmers are “desperate to be set free” of the red tape “gumming up trade with our biggest market”.

“Brexit has delivered all pain with no gain for exporters and importers,” she added.

But Ms Webster said the report shows the difficulty of a “have-your-cake-and-eat-it Brexit”, with the illusive concept of sovereignty and major trade deals not marrying with the rules of the EU single market.

She said: “It is abundantly clear that the easier and vastly more popular alternative to complex and difficult SPS negotiations necessitates Keir Starmer dropping his unpopular red lines on Brexit and embracing the journey back into the single market and customs union.

“It’s way past time to admit that Brexit is a failed experiment.”

https://www.independent.co.uk/news/u...-b2657424.html

TheDaddy

03-12-2024 18:57

Re: Britain outside the EU

Quote:

Originally Posted by 1andrew1 (Post 36187067)

Let's hope Sir Steir can get a better deal for us here. It would, um, land well with farmers. ;)

https://www.independent.co.uk/news/u...-b2657424.html

Piss off Liz, regulations were slashed on day one, it's what we voted for and it was the easiest deal in history because we held all the cards

Pierre

03-12-2024 18:59

Re: Britain outside the EU

Quote:

It’s way past time to admit that Brexit is a failed experiment

Brexit is not an experiment. It was a simple directive by a majority of the U.K. population.

Government’s job is make it work to the best of our interests, not all preferable outcomes will be possible.