BREXIT News update 19th July 2017

From now on until Britain has left the EU, CPA are going to post regular blogs for the comments we have seen in the press and elsewhere about Brexit, which is perhaps the most momentous event that will happen to the UK for a very long time and will have long-term implications for every citizen living in this country for good or ill. We aim to be balanced in our reports which will be divided into three categories;

  • Category 1 – Positive comments on Brexit
  • Category 2 – Negative comments on Brexit
  • Category 3 – Neutral comments on Brexit

We posted our first blog on 12th May 2017 (CPA Brexit blog on 12/5/2017)
We posted our second blog on 16th May 2017 (CPA Brexit blog on 16/5/2017)
We posted our third blog on 17th May 2017(CPA Brexit blog on 17/5/2017)
We posted our fourth blog on 22nd May 2017(CPA Brexit blog on 22/5/2017)
We posted our fifth blog on 26th May 2017(CPA Brexit blog on 26/5/2017)
We posted our sixth blog on 2nd June 2017(CPA Brexit blog on 2/6/2017)
We posted our seventh blog on 16nd June 2017(CPA Brexit blog on 16/6/2017)
We posted our eighth blog on 29th June 2017(CPA Brexit blog on 29/6/2017)
We posted our ninth blog on 4th July 2017(CPA Brexit blog on 4/7/2017)
We posted our tenth blog on 12th July 2017(CPA Brexit blog on 12/7/2017)
We posted our eleventh blog on 18th July 2017(CPA Brexit blog on 18/7/2017)

 

Or see all posts referencing Brexit

Please find below our twelth Brexit blog which has been compiled today on 19th July 2017:-

BREXIT; NEUTRAL COMMENT: In The Morning Account on 18th July, under the heading “Majority of businesses have no Brexit plans” it was reported that a survey by the ICAEW has found less than a third of British businesses have made plans for the UK’s departure from the EU. The poll of 500 business leaders showed that Just 29% of UK companies had made any Brexit plans, and less than half had even thought about the opportunities or risks presented by the UK’s departure from the bloc. Michael Izza, chief executive of the ICAEW, warned that the prospect of entrepreneurs seeking new markets would become little more than a “pipe dream” unless policy makers did more to support them. The Times’ Alistair Osborne notes that just 8% of respondents to the ICAEW’s survey strongly agree that “EU regulations are a major burden to the growth of your organisation.” Meanwhile, the FT reports that British business leaders are concerned about a lack of preparation within government after meeting with ministers to discuss Brexit. Separately, a KPMG report concludes that the UK economy will require a transitional deal of three years if it is to keep functioning after Brexit. The Daily Telegraph   The Times, Page: 45   Financial Times, Page: 2   The Independent, Page: 61

BREXIT; NEGATIVE COMMENT: In The Times on 18th July, reporter Katherine Griffiths stated that the city is to be shut out by Paris and Frankfurt. She goes on to say “France and Germany have joined forces to exclude the UK from a €1 trillion financial market after Brexit.”

Finally, Katherine Griffiths ended the article by saying that if Brexit terms for financial services are not determined soon by the UK government city figures are warning that their institutions will start to move jobs. She stated “They are also calling for the government to fight for a two-year transition period after Brexit.”