STATE OF: BREXIT

Ongoing information and analysis

30 Jan 2017, Rebecca Martin

STATE OF: BREXIT

Over the course of 2017, the Chamber intends to stay on top of developments and incorporate a Brexit angle into everything we do. This page is a resource where we will gather information from the media, from stakeholders and from Member companies - as well as original analysis from experts from within and without our network on the subject of BREXIT. This page will be continuously updated with information, with links to interesting articles and with the latest information we feel will be of interest to our Members. 

29 March 2017
Theresa May: 'Sweden is an important partner for UK business'
It is in all our interests for the partnership between the UK and the EU to allow maximum freedom for British companies to trade with, and operate within, European markets, and the same for Swedish companies in the UK. It would be to the detriment of us all if unnecessary barriers to trade were erected, writes Theresa May, Prime Minister of the United Kingdom. Read more. 

Right to remain: EU residents likely to remain in the UK post Brexit
Theresa May has today triggered Article 50 which kick-starts potentially two-years of Brexit negotiations. With nearly 50 percent of SCC Member Goodwille's employees from EU countries, and a large international client base, they today shared why they and many others believe EU residents will be able to remain in the UK post BREXIT negotiations.

Read more

28 March 2017
Brexit: the latest developments - Deloitte Webcast on Thursday 
As we enter this period of negotiation and a prolonged environment of change, join David Noon, Deloitte’s Global Brexit Lead and Head of Risk Advisory, Alex Cole, Economist, Jurga McCluskey, Head of Immigration and Sally Jones, Director of International Trade Policy, to hear their take on the latest developments.

Register for the webcast 

27 March 2017
Prime minister Theresa May begins week in which she will trigger article 50 to withdraw from European Union with tour of all four UK nations.

An Editorial in the Observer this weekend claimed that the events coming up this week means that the British people "are being herded off a cliff, duped and misled by the most irresponsible, least trustworthy government in living memory."

Also in the news, the UK’s manufacturers warn the PM today that it would be “simply unacceptable” if she followed through with her suggestion that no deal with the EU would be better than a bad deal.

The Times writes that Britain risks signing worthless politically motivated trade deals because ministers are failing to recognise the complexity of Brexit,

23 March 2017

Despite Brexit chaos, people are more optimistic about the London tech sector than ever 

KPMG surveyed more than 800 "global technology leaders" from around the world, and found that London was ranked fifth in terms of up-and-coming global hubs for the technology industry — up from seventh in 2016's ranking, before Brexit chaos began.

Goldman Sachs to move hundreds of jobs away from London before Brexit 

Over the next 18 months, the US banking giant will boost its recruitment within Europe and move people away from London as well as investing in infrastructure and technology to ensure operations are up and running by the time Britain leaves soon-to-be 27-country bloc.

20 March 2017
Did you know... that the UK Home Office has rather quietly released a NEW FORM for Permanent Residency specifically for long-term EU citizens (dated February 2017).

If, at least, you are currently living and working in the UK then you are on course to be a 'qualified' person to apply for a permanent residence document. It comes in at only 35 pages (instead of 85), does not require five years of paperwork as proof and does not require dates of your every visit out of the country. Read more here.

15 March 2017

British banks look to relocate to Ireland.

A ‘no-deal’ Brexit could potentially result in worse economic consequences for trade than a ‘bad-deal’ Brexit.

The prisoner’s dilemma is proving useful to explaining where the pound could go after Brexit.

9 March 2017

Prospect of £1.7bn fine looms large over PM's talks with EU leaders. The body recommended on Tuesday that the UK pay €1.98bn into the EU budget to compensate for lost customs duties. 

Leaving the European Union's single market could put at risk the future of 1.4 million jobs and an accumulated $593 billion of direct investment from US companies in Britain.

What will happen to UK trade post-Brexit?

5 March 2017: News Roundup

President Hollande: “The UK will become an outsider to the European Union”

The 4 big EU economies are drawing up battle plans to tackle Brexit and populism

Skills gap after Brexit in the IT sector – “vacancies could not be filled entirely by British workers.”

The outlook is good on global growth with manufacturing business conditions looking good – even with Brexit and Trump in the mix.

21 February 2017
Thanks to Brexit, even Oxford is thinking of absconding to France. 
With the UK soon leaving the European Union, many British teenagers are looking elsewhere for their future studies. It turns out British universities are also considering going abroad.

Brexit is a potential boost for Swedish fintech. Stockholm could be set to benefit from the UK's exit from the European Union by attracting more fintech investment.  

´No deal' Brexit would mean £6bn in extra costs for UK exporters.

14 February 2017
UK and Sweden agree 'everybody should be able to stay' after Brexit: EU minister
Sweden's EU affairs and trade minister Ann Linde insists that the UK and Sweden have the "same vision" when it comes to making sure that Swedes living in the UK and Brits living in Sweden have the right to stay where they are after Brexit. (14/2 2017)

13 February 2017: Is 'jilted Sweden' moving on? 
Yes, according to co-founder of the news network The Local, James Savage. Savage has been called upon to explain British sentiments regarding Brexit in Swedish media on a number of occasions. In this piece, exclusively for the SCC, Savage gives us the latest Swedish reactions to Brexit, straight from Stockholm. 

Brexit: Britain could be in for a costly haggle
A row over money could derail Brexit talks before they have begun. The risk of talks blowing up is greater than many realise, wrote the Economist on Saturday. (11/2/2017)

9 February 2017:
13 Pre-Brexit contract issues every business needs to consider
Much of the legislation in the UK is derived from EU law. This means that EU law is referred to in many contracts that will have been signed by UK businesses. 

8 February 2017: Is your business on top of Brexit prep?
There are many possibilities as to HOW the UK will withdraw from the EU and what model it will adapt going forward, SCC Members ebl Miller Rosenfalck have prepared a brief recap on four of the commonly discussed scenarios and a checklist for businesses to be prepared for all eventualities. 

For full document, click here

2 February 2017
Brex and the City, a Podcast by the Guardian (27/1 2017)
After yesterday's vote: Tory MPs are threatening to rebel over Brexit unless Theresa May guarantees the right of EU citizens to stay in Britain.

1 February 2017: DOWN THE RABBIT HOLE?
EU will lose out from bad Brexit deal on City, says leaked report (1/2 2017)
The European commission’s Brexit negotiators must strike a “workable” deal with Theresa May’s government to protect the City of London or the economies of the remaining member states will be damaged, a leaked EU report warns.

We’ve gone down the rabbit hole into Brexit fantasy, warns Clarke (1/2 2017)
The government’s vision of post-Brexit Britain is a fantasy that would amaze Enoch Powell, Ken Clarke said, as he insisted that he would vote with his conscience against triggering Article 50 in yesterday’s Commons debate. 

More than half of Brits want Government to think again over Brexit deal (1/2 2017)
According to a YouGov survey commissioned by Open Britain, more than half of people in the UK wanted a renegotiation. And only a third were prepared for the country to leave the EU without a deal if MPs and peers rejected what was on the table. 

Lib Dem leader Nick Clegg on the European Union Bill (31/1 2017) 

SCC Member DELOITTE on Article 50, the timelines and stages involved 

 

31 January 2017: SHOULD I STAY OR SHOULD I GO?
After last week's decision in the Supreme Court, SCC Members Trowers & Hamlins have prepared this flowchart for EU Nationals in the UK to consider going forward.

While the decision by the Supreme Court was welcomed, it was not unexpected and it is believe that it will prove only a temporary distraction to the bigger issues. What the firm is continually hearing from clients is that they want certainty as to the status of their people and right of EU citizens currently in the UK to continue to live and work here with their families post Brexit. That single pronouncement would be a big boost to the economy, says Trowers & Hamlins. 

To get in touch with their Employment Department, contact SCC council Member Tania Tandon. 

30 January 2017: IN THE PAPERS
To begin with we have gathered a number of recent articles from British and Swedish media, which could be of interest to Chamber Members. 

All UK cities but one have the EU as the most important export market. (30/1 2017) 

HSBC and Deloitte noticing optimism among younger consumers in their tracking studies despite Brexit. (30/1 2017)

Stockholm could be the new base for European Medicines Agency, moving 900 jobs from London. (27/1 2017) 

Swedish companies that may lose - and those that could gain - from Brexit (Swedish) (17/1 2017)

Not sure about what Brexit could mean and too embarrassed to ask - read this BBC guide to the most used terminology and an explanation of events so far. (24/1 2017)

INFORMATION:
Latest guidelines for Swedish citizens in the UK from the Embassy. 

Copyright: unkreatives / 123RF Stock Photo

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