Analysis & Blogs
The imposition of rules of origin on trade between the EU and the UK is often poorly understood as an important factor in managing the impact of a UK exit from the EU. While it is generally expected that the UK and the EU will ultimately trade with each other on a largely or completely tariff-...
Inequalities are increasing amongst people in Europe and the US; this is having a profound impact on politics, creating resentments and instability; and this is impacting the way in which policymakers see China. It is putting trade and investment relations with China under closer scrutiny. This...
Recent years have seen important global shifts in both the policy frameworks for screening inward foreign investment and the way in which they are applied. These shifts come against a backdrop of protectionist political rhetoric and anxieties about the impact of foreign direct investment (FDI)...
The Institute for Government’s model of managed divergence for the UK and EU economies has been influential in shaping the UK government’s position. It’s an ingenious attempt to address some of the thorniest economic and political challenges presented by Brexit. But while it may provide a basis for the UK cabinet ministers to bridge their differences, it is unlikely to be acceptable to the EU, now or in the future.
Transport for London (TfL) is the city’s transport regulator, responsible for operating multiple modes of transport for 1.3bn passengers a year, such as the Tube, the Emirates Air Line and London’s 700 different red bus routes. In addition to this operational role, TfL has a legal duty to grant – and police – the licences of private hire operators, traditional taxis and their drivers.
The nationalisation of several utilities and rail franchises is a key plank of the UK Labour Party’s policy platform. To the dismay of implicated business leaders, it is also relatively popular, according both to the 2017 general election result and to separate polling. But how much would it cost - is Shadow Chancellor John McDonnell right to claim, as he did in a speech this weekend, that it would be “cost free”? Answering this means teasing out a number of related but distinct issues.
Capita’s profit warning is yet another sign of the growing fragility of the large, generalist outsourcing sector in the UK. That no bail-out was forthcoming for Carillion showed that such firms are not too big to fail. Indeed, the question seems to be whether they are too big to survive. This should imply significant opportunities for smaller, specialist firms, and therefore for investors, considering the raft of non-core asset sales the big outsourcers will undoubtedly be rushing into this year.
Are economic statistics – such as for inflation, growth and productivity – no longer reliable? And if not, what does this mean for economic policy and for businesses? These questions are being asked, again, following the publication of a research paper highlighting problems measuring growth in the UK’s telecoms sector, which has been picked up by the FT’s Chris Giles.
Supporting Europe’s Economies and Citizens - A modern approach to financial services in an EU-UK Trade Agreement
In September 2017, Global Counsel and Clifford Chance published with UK Finance a detailed set of proposals for the financial services content of a possible future EU-UK FTA.
The proposals offered a possible answer to the difficult question of how the EU and the UK might preserve some...
For some time now, the two main political parties in the UK have been battling for the same group of voters who feel disenfranchised, left behind and have faced what some have dubbed the ‘lost decade’ of stagnant wage increases. Since the general election, however, this battle has intensified, and it is now the case that more weight is being given by both parties to policies with a clear retail value.
The latest sale process for Thomas International, a psychometric and aptitude assessment provider, is well timed to coincide with the UK government’s publication this month of its long-awaited careers strategy, which looks to rejuvenate a previously neglected area of education policy and could be a platform for growth in much-hyped ‘edtech’ provision.
The last few months have seen a growing awareness of the challenge facing both the EU and the UK in adapting their customs processing systems for the reimposition of a hard border between the two sides once they are no...
Over Summer 2017, EY and Global Counsel collaborated on a project reviewing the challenges posed for UK boards and managers by political populism. EY have just published some of these reflections as part of their regular Corporate Governance Latest Insights Series.
One of the most contested issues, before and since the referendum on UK membership of the EU, has been the potential impact of Brexit on the UK economy. The exercise is almost as difficult now as it was before the referendum, because we still don’t know what Brexit will mean for the UK’s trading relationships, or the regulatory environment in Britain, two issues that will have a significant bearing on the long-term economic consequences.
Complex, arcane and underperforming, the EU Emissions Trading Scheme has emerged as Brexit’s unlikely first billion euro problem. Superficially, the challenge is a technical one; how to manage the uncertainty over what...
The UK government’s official response to the Taylor Review on Modern Working Practices is expected imminently. However, there are major questions over whether ministers will be able to support many, if any, of Matthew Taylor’s wide-ranging recommendations for reforming UK employment law.
The baseline for the trade relationship after a no-deal Brexit would be WTO rules. In practice – and depending on the political atmosphere – there would at least be some enhancements to this baseline in the form of bilateral agreements between the EU and the UK on specific issues that are...
As Global Counsel and Herbert Smith Freehills convene a discussion on the UK’s future relationship with Euratom, this paper provides an overview of the legal and political background. The paper also identifies some of the potential options for mitigating the impact on the UK. Lastly, the paper...
News this week that the EU and the UK have agreed on a methodology for dividing current farm trade quotas between them was expected at some point. These ‘TRQs’ are in effect a piece of EU property that the two sides needed to agree how to divide.
The Irish border is one of the few Brexit issues for which the positions of the parties to the negotiation are precise and clear. They are also irreconcilable, as things stand. For the Irish government, it is politically indispensable that there is no return to a hard border. This is not just a question of customs controls and the economic costs created by processing delays and charges; it is also about the social impact on communities that straddle border and political symbolism in a country where this is especially important.
UK government proposals on cybersecurity in the automotive sector highlight how one unexpected outcome of digitisation could be the introduction of strict corporate governance rules previously unseen outside of the financial services sector.
Putting a monetary value on nature provides a stronger economic case for ambitious environmental policy supported by public and private investment, but it also leaves that value, and the investment case, hanging on politics. As British Environment Secretary Michael Gove attempts to project a vision of a ‘green Brexit’, natural capital is the buzz word on which assertions are being built, and the Natural Capital Committee (NCC) will be key architects of a 25-year environmental plan promised within the Conservative Party manifesto.
One of the general conclusions from the recent UK general election was that it had marked a dramatic return to two party politics in the UK. Voters provided the Conservatives and the Labour Party with the highest combined share of the vote since the 1970s, at over 82%, and almost 90% of the seats in Parliament. The Conservatives saw their highest vote share since 1983 at the election. Labour surged to over 40% for the first time since 1997.
The publication this week of a review into the UK’s high-cost credit market is just the latest demonstration of the UK’s financial services regulator, the Financial Conduct Authority (FCA) regaining its mojo for activist policymaking. The FCA has always held a formal objective of protecting consumers, but this has often had to be balanced against the economic and political interests of the financial services sector.
As part of its long-awaited clean air plan, the UK government today announced its intention to ban conventional petrol and diesel engines in new cars and vans by 2040. Arguably, they need not have bothered.
Joe is a Senior Associate at Global Counsel. Joe spent three years as a UK parliamentary adviser, working for two government ministers. He has a detailed knowledge of the procedures of Westminster, and the politics and internal procedures of the Conservative Party.
Rishi is a Senior Associate in Global Counsel’s UK team, supporting clients in navigating Westminster and local government policymaking processes. Rishi has a background in political consulting and corporate communications, and has previously also worked in Whitehall.