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UK employers urge Johnson not to sacrifice services in EU deal

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UK employers urge Johnson not to sacrifice services in EU deal

 

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FILE PHOTO: Britain's Prime Minister Boris Johnson leaves Downing Street in London, Britain February 12, 2020. REUTERS/Hannah McKay

 

The Confederation of British Industry urged Prime Minister Boris Johnson to secure a post-Brexit deal that will not leave out service industries, such as finance, something many employers fear if London and Brussels stick to their guns.

 

Avoiding costly red tape and customs complexities were also vital for goods companies, the CBI said.

 

Britain and the EU are expected to begin talks for a trade deal next month, leaving little time before a post-Brexit standstill period expires on Dec. 31.

 

Most economists polled by Reuters this month thought the most likely outcome would be a goods-only deal.

 

Relations between Johnson and some business groups have been strained by his dismissal of their concerns about Britain’s exit from the EU.

 

Carolyn Fairbairn, the CBI’s director-general, said British companies backed many of the government’s objectives for the negotiations, such as securing zero trade tariffs and allowing free flows of data.

 

“In other areas, how the government strikes the balance between access and control is less clear,” she said. “All efforts must be made in these talks to save exporters time and money, avoiding new paperwork, costs and delays.”

 

The CBI said it accepted that its once favoured scenario of Britain remaining in the EU’s customs union was now dead, posing challenges for the world’s fifth-biggest economy.

 

London and Brussels are far apart on key issues, chief among them Britain’s insistence that it must be free to set its own rules for business while the EU wants a so-called level playing field on issues such as the environment and state aid.

 

The CBI said it agreed with the government that Britain had to be able to seize new opportunities by setting regulations for emerging technologies in areas such as artificial intelligence, digital payments and quantum computing.

 

“But for the UK to truly be spear-heading this new frontier, its world-leading industries must not be distracted by significant new burdens on their exports,” it said.

 

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-- © Copyright Reuters 2020-02-24

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12 minutes ago, snoop1130 said:

The Confederation of British Industry urged Prime Minister Boris Johnson to secure a post-Brexit deal that will not leave out service industries, such as finance, something many employers fear if London and Brussels stick to their guns.

It took surprisingly long time for the service sector to raise their voice. Not sure if Boris is going to listen what they want. Not sure if it's even possible to have a good deal if Boris wishes to keep his hard lines. 

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Same old BS concerns from big Cooperate. When they talk about services they ONLY mean financial. These groups can easily swallow the costs, it just means less profit margin for the shareholders and less huge commission bonuses.... chop some of the high paying do nothing board jobs and slash the middle management its top heavy ..

 

 

 

 

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56 minutes ago, TheDark said:

It took surprisingly long time for the service sector to raise their voice. Not sure if Boris is going to listen what they want. Not sure if it's even possible to have a good deal if Boris wishes to keep his hard lines. 

My heart bleeds for the shiny added spivs,sorry service sector.

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1 hour ago, Rookiescot said:

You guys still think Brexit was a good idea?

Their disdain for any export which requires some sort of basic academic credential is well evident. Fast out of the blocks on this one as well. 

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1 minute ago, samran said:

Services can mean a whole range of things.

Yes i know Im well aware of the supposed three pillars of economies and services being one but this report is specifically talking about financial services.  As does 99% articles talking about sectors... They did away with the likes of medical, education, industrial, automotive etc in favour of just three... they now call it the tertiary industry, which of course is just BS wording

 

Quote

The service sector consists of the production of services instead of end products. Services (also known as "intangible goods") include attention, advice, access, experience, and affective labor. The production of information has long been regarded as a service, but some economists now attribute it to a fourth sector, the quaternary sector.https://en.wikipedia.org/wiki/Tertiary_sector_of_the_economy

 

 Naaa its only talking about the financial services and how it might have to adjust its model... the rest of your list isnt what they mean and you know it. 

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1 hour ago, englishoak said:

Same old BS concerns from big Cooperate. When they talk about services they ONLY mean financial. These groups can easily swallow the costs, it just means less profit margin for the shareholders and less huge commission bonuses.... chop some of the high paying do nothing board jobs and slash the middle management its top heavy ..

 

 

 

 

And you dont think those financial services will relocate to Frankfurt or Paris to keep getting those huge profit margins?

 

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22 minutes ago, englishoak said:

Yes i know Im well aware of the supposed three pillars of economies and services being one but this report is specifically talking about financial services.  As does 99% articles talking about sectors... They did away with the likes of medical, education, industrial, automotive etc in favour of just three... they now call it the tertiary industry, which of course is just BS wording

 

 

 Naaa its only talking about the financial services and how it might have to adjust its model... the rest of your list isnt what they mean and you know it. 

Wow, Wikipedia. That’s it?

 

Trust me, I deal with a whole range of services industries looking to do stuff in Asia. And it isn’t just financial services. There are barriers galore. 
 

It won’t be any different for the EU now you are outside the tent.  

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5 minutes ago, Rookiescot said:

And you dont think those financial services will relocate to Frankfurt or Paris to keep getting those huge profit margins?

 

They see the words ‘bankers’ and they get triggered. 
 

So they get to kick them in the balls now with brexit, and quite happy to throw any other service provider under the bus in the process. 

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