Brexit LIVE: Amsterdam ‘power grab’ obliterated as report shows 1000 EU offices moving to

Brexit 'is not actually done' for UK says Nandy

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The Government is currently negotiating a new “memorandum of understanding” (MoU) with Brussels which could give UK based companies greater access to European markets. According to Hilary Fordwich, a global business developer, European companies are already looking to move operations to London.

He told RT: “Bovill, that is a financial services consultancy firm, back in January only two months ago, released a report that stated over a thousand EU banks, insurers and asset managers were opening offices in London so that they could better serve their European customers.

“So I think you’re seeing that a lot of these EU investors and EU firms are also moving to the City of London.

“They are doing so regardless of the MoU being signed or not.

“As usual the only thing that is usual is business is carrying on as usual.”

Ahead of the 2016 referendum, Remainers argued Brexit would decimate London’s financial services industry.

There have been reports of some UK companies relocating to Amsterdam post-Brexit though the number of jobs involved is believed to be low.

Around £8bn in shares was traded on the Dutch section of equity exchange CBOE Europe and Euronext Amsterdam in January, four times the December figure.

However much of this has been concentrated in the stock trading sector which is low margin and only has a limited impact on jobs.

There are hopes a new MoU could be signed in the next few weeks giving British companies greater access to European financial markets.

In a statement last week the Treasury said: “Formal steps need to be undertaken on both sides before the MoU can be signed but it is expected that this can be done expeditiously.”


07:55am update: EU’s Michel humiliated as own argument used against him – vaccine row sinks to new low

European Council boss Charles Michel has been humiliated after his own call for global vaccine transparency was used against him.

In a new twist for the EU vaccines row, the top eurocrat was told to “get his own house in order” rather than attempting to broker a global treaty on pandemic response.

Mr Michel co-signed a call from more than 20 world leaders for the creation of an international agreement to help manage future health scares in the wake of the coronavirus crisis.

In a press briefing this morning, the EU’s most senior official said: “For this global approach to work, we need more transparency, more accountability, and more shared responsibility in the international system.”

07:30am update: Post-Brexit US trade deal in jeopardy as Joe Biden furious at London’s tech tax crackdown

A top economics academic warned the ongoing digital tax row between Joe Biden and Boris Johnson could threaten prospects of a post-Brexit deal as the threat of tariffs on UK goods shows relationships with the new administration has gotten off on a bad foot.

International Economics Professor Keith Pilbeam at City University in London warned the Digital Service Tax introduced last April could threaten an American post-Brexit trade deal as the US feels the tax unfairly targets them.

The US dislikes the 2 percent revenue tax on digital companies as many operate in North America, with President Joe Biden threatening to slap down a sharp 25 percent tariff on some British goods in response.

The UK says it wants digital firms to pay their “fair share of tax” but the US disagrees and says the tax is discriminatory towards American businesses. 

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