Media

In the Media

Wall Street Journal | Banks accelerate contingency plans as Brexit gets real

6 Oct 2016
|
Regions: 
EU/Eurozone,
UK

For the U.K.’s financial sector, Brexit is getting real. By the end of March negotiations are due to start, and British-based banks are scrambling to finesse plans for life after the European Union.

Nevertheless, the prospect of a “hard” Brexit, in which the U.K. cuts trade links with the bloc in return for control over its borders, looms over the sector. “It looks increasingly not ‘if’ but ‘when’ banks are going to have to trigger contingency plans,” says Stephen Adams, a partner at consultancy Global Counsel.

Wall Street Journal Blogs | U.S.-Based Pharma Still Banking on New British Digs

3 Oct 2016
|
Regions: 
UK,
Americas

Alnylam Pharmaceuticals Inc.’s decision to proceed with its plan to set up a drug testing centre in Maidenhead, England comes amid growing concerns about the viability of operations in the U.K. post Brexit.

But there are still advantages for companies to open up shop in the U.K., said Gregor Irwin, chief economist at Global Counsel in London. And not all sectors will be affected the same way.

RBCC Bulletin | Russia risk through the eyes of business

5 Sep 2016
|
Regions: 
UK,
Russia & CIS

We are all familiar with Western media stereotypes about Russia. Businesses are normally less outspoken but no less concerned about possible risks.

But how do businesses themselves define “Russia risk”? This question became an integral part of a wider report on political risk published in June by Global Counsel team led by chief economist Dr Gregor Irwin. My colleagues analysed the annual reports submitted by FTSE-100 companies in 2015 to see how they see the risks they face in different markets.

The New York Times | 2 months after 'Brexit' vote, Britain's push to leave E.U. is a muddle

1 Sep 2016
|
Regions: 
EU/Eurozone,
UK

Since Britain’s vote in June to quit the European Union, its government has promised repeatedly to make a success of withdrawal, known as Brexit.

An analysis by Gregor Irwin of Global Counsel, an advisory firm with offices in Brussels, London and Singapore, concluded that the United States, along with China, Japan and some other Asian nations, should be top British priorities and that the country “should not spend too much time on India or Australia and it should largely forget about Canada.”

The Telegraph | Brexit brings the chance to build a new and better Commonwealth

1 Sep 2016
|
Regions: 
UK,
Multilateral

For many campaigners, Brexit offers the chance to right a historic wrong: the UK turning its back on the Commonwealth on joining the EEC in 1973.

A recent report by former Bank of England economist Gregor Irwin argues forcefully against this view. Trade negotiations are costly, and Britain must focus on deals which offer the greatest return, he says. Forget Canada and Australia and “ruthlessly prioritise” talks with China and the United States. 

Euractiv | ‘Forget Commonwealth, target US & China’, economist warns Brexit trade team

22 Aug 2016
|
Regions: 
UK,
Multilateral

Theresa May’s new Brexit team of trade ministers should ignore the former Commonwealth and concentrate on the US and China, according to a new report from a former Bank of England economist.

The Leave campaign made great play of reviving ties with the former British Empire – such as India, Australia, New Zealand and Canada. But that strategy is rejected after a thorough look at five separate data indices, in the study by Dr Gregor Irwin, a former Foreign Office and Bank of England economist, for the Global Counsel strategy group.

Bloomberg | U.K. advised to focus on U.S., China in post-Brexit trade deals

16 Aug 2016
|
Regions: 
UK,
Multilateral

The U.K. should focus on nailing down post-Brexit trade deals with the U.S. and China and not spend too much time negotiating with India, Canada or Australia, according to a study by Global Counsel.

Using a string of metrics, the London-based consultancy found that China, the U.S., Japan and Russia offer the greatest opportunities for commercial arrangements once Britain has left the European Union and so is able to liaise one-on-one with other countries.

The Independent | Brexit must happen before we will consider trade deal with UK, US says

27 Jul 2016
|
Regions: 
EU/Eurozone,
UK

The US will not start bilateral trade negotiations with the UK before it has split from the EU, according to the Government's trade representative.

"Some of the skills exist in Whitehal and people will need to be hired from around the UK. My guess is that the Government should do what it says it will do and look for expertise outside the UK," said Gregor Irwin, chief economist at Global Counsel, who worked in the foreign office for six years.

The Straits Times | Ex-minister says Britain likely to woo Asian business

16 Jul 2016
|
Regions: 
UK,
Asia,
ASEAN

The new British government is likely to roll out incentives to entice Asian businessmen to stay put in Britain even as it carves out a new life outside the EU.

This silver lining, which may help offset years of roiling uncertainty as Britain constructs a new relationship to replace its membership of the European Union, was pointed out by Lord Peter Mandelson, a former Cabinet minister, who was in Singapore on a business visit as chairman of the London-based strategic advisory firm Global Counsel.

The Guardian | UK turns to Canada for advice on striking post-Brexit trade deals with EU

15 Jul 2016
|
Regions: 
EU/Eurozone,
UK,
Americas,
Multilateral

Gregor Irwin, chief economist at the Global Counsel consultancy and a former chief economist at the Foreign and Commonwealth Office, said the government had people who understood trade policy, but did not have negotiators.

“No doubt people will have to be brought in from outside. They will look to get people wherever they can find them, and Canada and New Zealand would be good places to look. This is a huge agenda and it’s a long process.”