Please log in or register. Registered visitors get fewer ads.
Forum index | Previous Thread | Next thread
The Countdown begins. 23:28 - Nov 10 with 99097 viewspikeypaul

https://www.timeanddate.com/countdown/generic?iso=20190329T23&p0=1336&msg=Democr

1:19 pm today was the exact mid point from when the result that the Great British public had decided to leave the EU and the time 11pm March 29th 2019 that Democracy will be delivered.

Happy days.
[Post edited 10 Nov 2017 23:32]

Poll: Next major war involving UK against a super power ?

0
The Countdown begins. on 23:22 - May 24 with 845 viewspeenemunde

The Countdown begins. on 23:10 - May 24 by longlostjack

https://www.cbc.ca/amp/1.4674280

http://mobile.abc.net.au/news/2018-04-09/trade-war-could-wipe-billions-from-aust

But sure. We'll be stronger on our own and in the interests of free trade we should leave the world's most successful free trading block. Madness.


As I said you have been brain washed and believe any rubbish.
-1

The Countdown begins. on 23:22 - May 24 with 837 viewsKilkennyjack



Suck it Up Feckwits.🇪🇺

‘Beware of the risen people’ ........🍀🇮🇪 💚 YesCymru 🏴󠁧󠁢󠁷󠁬󠁳󠁿

1
The Countdown begins. on 23:28 - May 24 with 834 viewspeenemunde

The Countdown begins. on 23:22 - May 24 by Kilkennyjack



Suck it Up Feckwits.🇪🇺


You still living in the UK 🇬🇧 ?.......
-1
The Countdown begins. on 23:50 - May 24 with 814 viewsLeonWasGod

The Countdown begins. on 22:10 - May 24 by peenemunde

Myself and what I see everyday, and it’s certainly not the biased IMF or any politician.
The idea that a country like the UK, can’t stand and thrive on its own two feet is absolutely ridiculous.


Who's said the UK can't stand and thrive on it's own two feet? Sounds like you need to get behind your country
1
The Countdown begins. on 00:01 - May 25 with 798 viewsKilkennyjack

The Countdown begins. on 23:28 - May 24 by peenemunde

You still living in the UK 🇬🇧 ?.......


No, Wales.
I live in a Nation.

You ?

Shouldn’t your carer have you in bed by now ?
Pensioner problems.

‘Beware of the risen people’ ........🍀🇮🇪 💚 YesCymru 🏴󠁧󠁢󠁷󠁬󠁳󠁿

1
The Countdown begins. on 05:11 - May 25 with 766 viewspeenemunde

The Countdown begins. on 00:01 - May 25 by Kilkennyjack

No, Wales.
I live in a Nation.

You ?

Shouldn’t your carer have you in bed by now ?
Pensioner problems.


Wales voted to leave. A very proud decision by my fellow countrymen and women.
No one is making you stay in the 🇬🇧 If you can’t accept democracy.
I see you are even offensive towards pensioners, which shows how sad and bitter people like you are. As for me being a pensioner I’m 43, a little way to go yet.
[Post edited 25 May 5:15]
-1

The Countdown begins. on 08:07 - May 25 with 727 viewspikeypaul

308 AFLI

SIUYRL

No one making the beggars stay here.

Poll: Next major war involving UK against a super power ?

-1
The Countdown begins. on 08:16 - May 25 with 715 viewsKilkennyjack

The Countdown begins. on 05:11 - May 25 by peenemunde

Wales voted to leave. A very proud decision by my fellow countrymen and women.
No one is making you stay in the 🇬🇧 If you can’t accept democracy.
I see you are even offensive towards pensioners, which shows how sad and bitter people like you are. As for me being a pensioner I’m 43, a little way to go yet.
[Post edited 25 May 5:15]


Sorry if you are 43.
You came over as a bit muddle headed and confused.

Glad you mentioned democracy though.
We have regular general elections cos things change through time.
Politicians make promises, we vote them in.
They are accountable and then we get a chance to vote them out.
Thats democracy.
Your logic suggests a single general election for all time, plainly daft.

The Leave side both lied and cheated.
Democracy says they must now be held to account via a vote.

Btw if you want to live in another country then try one with no employment laws and no environmental laws. It will give you a taste of what Brexidiot Britain will be like.

Dont be a gammon and 43. Nobody is trying to hurt you.

‘Beware of the risen people’ ........🍀🇮🇪 💚 YesCymru 🏴󠁧󠁢󠁷󠁬󠁳󠁿

2
Login to get fewer ads

The Countdown begins. on 08:37 - May 25 with 712 viewsJango

The Countdown begins. on 08:16 - May 25 by Kilkennyjack

Sorry if you are 43.
You came over as a bit muddle headed and confused.

Glad you mentioned democracy though.
We have regular general elections cos things change through time.
Politicians make promises, we vote them in.
They are accountable and then we get a chance to vote them out.
Thats democracy.
Your logic suggests a single general election for all time, plainly daft.

The Leave side both lied and cheated.
Democracy says they must now be held to account via a vote.

Btw if you want to live in another country then try one with no employment laws and no environmental laws. It will give you a taste of what Brexidiot Britain will be like.

Dont be a gammon and 43. Nobody is trying to hurt you.


The remain side lied and cheated as well. Also, deep down you know that having no employment and environmental laws after brexit is just a pathetic argument remainers are using. Get a grip.
-1
The Countdown begins. on 09:26 - May 25 with 684 viewsHighjack

The Countdown begins. on 08:16 - May 25 by Kilkennyjack

Sorry if you are 43.
You came over as a bit muddle headed and confused.

Glad you mentioned democracy though.
We have regular general elections cos things change through time.
Politicians make promises, we vote them in.
They are accountable and then we get a chance to vote them out.
Thats democracy.
Your logic suggests a single general election for all time, plainly daft.

The Leave side both lied and cheated.
Democracy says they must now be held to account via a vote.

Btw if you want to live in another country then try one with no employment laws and no environmental laws. It will give you a taste of what Brexidiot Britain will be like.

Dont be a gammon and 43. Nobody is trying to hurt you.


Sorry but I have to ask... gammon??

The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which.
Poll: What should Lord Bony change his name to?

0
The Countdown begins. on 09:44 - May 25 with 680 viewspikeypaul

The Countdown begins. on 08:37 - May 25 by Jango

The remain side lied and cheated as well. Also, deep down you know that having no employment and environmental laws after brexit is just a pathetic argument remainers are using. Get a grip.


You are wasting your time Jango,why does the terrorist loving scumbag who is so anti British care if we are in or out is the biggest question.
I am sure he could feed himself if he went back home rather than life off us.

308 AFLI

SIUYRL

Poll: Next major war involving UK against a super power ?

-2
The Countdown begins. on 10:06 - May 25 with 674 viewspeenemunde

The Countdown begins. on 08:16 - May 25 by Kilkennyjack

Sorry if you are 43.
You came over as a bit muddle headed and confused.

Glad you mentioned democracy though.
We have regular general elections cos things change through time.
Politicians make promises, we vote them in.
They are accountable and then we get a chance to vote them out.
Thats democracy.
Your logic suggests a single general election for all time, plainly daft.

The Leave side both lied and cheated.
Democracy says they must now be held to account via a vote.

Btw if you want to live in another country then try one with no employment laws and no environmental laws. It will give you a taste of what Brexidiot Britain will be like.

Dont be a gammon and 43. Nobody is trying to hurt you.


A once in a generation vote, was said. End of. Glorious decision.
-1

The Countdown begins. on 10:47 - May 25 with 662 viewsoh_tommy_tommy

When are we kicking people with brown faces out .

There’s not enough movement on this yet

Windrush should go into turbo mode

Poll: DO you support the uk getting involved in Syria

1
The Countdown begins. on 13:37 - May 25 with 627 viewsKilkennyjack

The Countdown begins. on 09:26 - May 25 by Highjack

Sorry but I have to ask... gammon??


For Gammon, see PikeyPaul

Warra fecking div 😂

‘Beware of the risen people’ ........🍀🇮🇪 💚 YesCymru 🏴󠁧󠁢󠁷󠁬󠁳󠁿

1

The Countdown begins. on 19:58 - May 27 with 477 viewsShaky

That's that then!

Britain’s plans for ‘no-deal’ Brexit have ground to a halt
By James Blitz and George Parker

FT, 27 May, 2018

The UK government’s preparations for a “no deal” Brexit in March 2019 have largely ground to a halt, making it almost impossible for Theresa May to walk out of negotiations with the EU in the next 10 months, according to people with close knowledge of the situation.

As the prime minister prepares for what is arguably the trickiest phase of the Brexit talks, the government’s official position is that it is confident it can reach an accord with the EU — but that it is also preparing contingencies for “no deal” if Brussels tries to strike too hard a bargain.

However, Whitehall officials are privately conceding that preparations for a “cliff edge” Brexit next March are nowhere near the level they need to be if a threat by Mrs May to walk away from the talks were to be credible.

“Our preparedness for no deal is virtually non-existent,” said one senior British official working on Brexit. “Our ability to deliver a ‘no deal’ outcome recedes with every week that passes.”

Other officials preparing for the possibility of Britain leaving the EU without a deal say they are being discouraged from taking on projects that might only be needed should there be no agreement on customs and regulatory co-operation by next March.

Sir Ivan Rogers, the UK’s former ambassador to the EU, observed in a speech in Glasgow last week that the UK had still not set up the independent regulatory bodies that would be needed in the event of a “no deal” Brexit next year.

“If we want . . . genuinely to go it alone . . . then we have to be going full tilt in developing that regulatory capability at huge speed,” he said. “The fact that, in so many areas, we are obviously not doing that . . . is yet another reason why the EU side has long since concluded that the UK would not walk out.”

Another former mandarin indicated that the failure to set up independent regulatory bodies in the event of a no deal next year was causing most concern.

“How many years does it take to set up a medicines agency?” he said. “Or chemicals approval? Or civil nuclear-safety standards? Or a new state aid policy? Where is the legislation? Where are the skilled staff coming from?”

In last December’s Budget, Philip Hammond, the chancellor, allocated £1.5bn for “Brexit preparedness”, which covers all aspects of Brexit planning, including a “no deal” scenario.”

However, government officials concede that the new money only became available in the financial year starting in April and that it is still too early to make a judgment on how it might be spent.

A further £1.5bn has been set aside by Mr Hammond but this is only being earmarked for the financial year after March 2019 when the UK is formally due to leave the EU.

On Sunday, Jacob Rees-Mogg, the leading Conservative Brexiter, urged Mrs May to revive her threat to leave the EU without a deal if Brussels takes an uncompromising approach in the Brexit negotiations.

He told the BBC that Mrs May should threaten not to pay the £40bn “divorce bill” agreed with the EU in December. “We should say quite clearly: ‘If we don’t get the trade deal we want, you don’t get the money.’ That’s a very strong negotiating position.”

But hardline Brexiters, both in cabinet and on the Conservative backbenches, claim that Mrs May, Mr Hammond, cabinet secretary Sir Jeremy Heywood and Olly Robbins, the chief Brexit negotiator, have conspired to avoid serious “no deal” planning for next March to such an extent that it is no longer a realistic option.

Dominic Cummings, one of the masterminds of the pro-Brexit referendum campaign, wrote last week: “The Treasury argues . . . that given the actual outcome of the negotiations will be abject surrender, it is pointless wasting more money to prepare for a policy that has no future and therefore even the Potemkin preparations now under way should be abandoned.”

A Number 10 spokesman said: “The prime minister is committed to getting the best possible Brexit deal, one that works for the UK and the EU. The government is committing extensive resources as part of our preparations for leaving the EU — whether in the event of a deal or not, and at the autumn Budget the chancellor allocated £3bn specifically for our exit preparations.”

https://www.ft.com/content/23663bc4-619e-11e8-90c2-9563a0613e56

Misology -- It's a bitch
Poll: Poll: Which former manager would you most like to see back in charge now

1
The Countdown begins. on 20:09 - May 27 with 463 viewsHighjack

The Countdown begins. on 19:58 - May 27 by Shaky

That's that then!

Britain’s plans for ‘no-deal’ Brexit have ground to a halt
By James Blitz and George Parker

FT, 27 May, 2018

The UK government’s preparations for a “no deal” Brexit in March 2019 have largely ground to a halt, making it almost impossible for Theresa May to walk out of negotiations with the EU in the next 10 months, according to people with close knowledge of the situation.

As the prime minister prepares for what is arguably the trickiest phase of the Brexit talks, the government’s official position is that it is confident it can reach an accord with the EU — but that it is also preparing contingencies for “no deal” if Brussels tries to strike too hard a bargain.

However, Whitehall officials are privately conceding that preparations for a “cliff edge” Brexit next March are nowhere near the level they need to be if a threat by Mrs May to walk away from the talks were to be credible.

“Our preparedness for no deal is virtually non-existent,” said one senior British official working on Brexit. “Our ability to deliver a ‘no deal’ outcome recedes with every week that passes.”

Other officials preparing for the possibility of Britain leaving the EU without a deal say they are being discouraged from taking on projects that might only be needed should there be no agreement on customs and regulatory co-operation by next March.

Sir Ivan Rogers, the UK’s former ambassador to the EU, observed in a speech in Glasgow last week that the UK had still not set up the independent regulatory bodies that would be needed in the event of a “no deal” Brexit next year.

“If we want . . . genuinely to go it alone . . . then we have to be going full tilt in developing that regulatory capability at huge speed,” he said. “The fact that, in so many areas, we are obviously not doing that . . . is yet another reason why the EU side has long since concluded that the UK would not walk out.”

Another former mandarin indicated that the failure to set up independent regulatory bodies in the event of a no deal next year was causing most concern.

“How many years does it take to set up a medicines agency?” he said. “Or chemicals approval? Or civil nuclear-safety standards? Or a new state aid policy? Where is the legislation? Where are the skilled staff coming from?”

In last December’s Budget, Philip Hammond, the chancellor, allocated £1.5bn for “Brexit preparedness”, which covers all aspects of Brexit planning, including a “no deal” scenario.”

However, government officials concede that the new money only became available in the financial year starting in April and that it is still too early to make a judgment on how it might be spent.

A further £1.5bn has been set aside by Mr Hammond but this is only being earmarked for the financial year after March 2019 when the UK is formally due to leave the EU.

On Sunday, Jacob Rees-Mogg, the leading Conservative Brexiter, urged Mrs May to revive her threat to leave the EU without a deal if Brussels takes an uncompromising approach in the Brexit negotiations.

He told the BBC that Mrs May should threaten not to pay the £40bn “divorce bill” agreed with the EU in December. “We should say quite clearly: ‘If we don’t get the trade deal we want, you don’t get the money.’ That’s a very strong negotiating position.”

But hardline Brexiters, both in cabinet and on the Conservative backbenches, claim that Mrs May, Mr Hammond, cabinet secretary Sir Jeremy Heywood and Olly Robbins, the chief Brexit negotiator, have conspired to avoid serious “no deal” planning for next March to such an extent that it is no longer a realistic option.

Dominic Cummings, one of the masterminds of the pro-Brexit referendum campaign, wrote last week: “The Treasury argues . . . that given the actual outcome of the negotiations will be abject surrender, it is pointless wasting more money to prepare for a policy that has no future and therefore even the Potemkin preparations now under way should be abandoned.”

A Number 10 spokesman said: “The prime minister is committed to getting the best possible Brexit deal, one that works for the UK and the EU. The government is committing extensive resources as part of our preparations for leaving the EU — whether in the event of a deal or not, and at the autumn Budget the chancellor allocated £3bn specifically for our exit preparations.”

https://www.ft.com/content/23663bc4-619e-11e8-90c2-9563a0613e56


Christ it took two people to write that drivel?

The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which.
Poll: What should Lord Bony change his name to?

-1
The Countdown begins. on 20:12 - May 27 with 462 viewsexiledclaseboy

The Countdown begins. on 20:09 - May 27 by Highjack

Christ it took two people to write that drivel?


How do you know it’s drivel? Do you have insider knowledge of how the government and the civil service is preparing for when the U.K. leaves the EU.

Poll: Who will you vote for on 8 June?

1
The Countdown begins. on 21:06 - May 27 with 440 viewslonglostjack

The Countdown begins. on 19:58 - May 27 by Shaky

That's that then!

Britain’s plans for ‘no-deal’ Brexit have ground to a halt
By James Blitz and George Parker

FT, 27 May, 2018

The UK government’s preparations for a “no deal” Brexit in March 2019 have largely ground to a halt, making it almost impossible for Theresa May to walk out of negotiations with the EU in the next 10 months, according to people with close knowledge of the situation.

As the prime minister prepares for what is arguably the trickiest phase of the Brexit talks, the government’s official position is that it is confident it can reach an accord with the EU — but that it is also preparing contingencies for “no deal” if Brussels tries to strike too hard a bargain.

However, Whitehall officials are privately conceding that preparations for a “cliff edge” Brexit next March are nowhere near the level they need to be if a threat by Mrs May to walk away from the talks were to be credible.

“Our preparedness for no deal is virtually non-existent,” said one senior British official working on Brexit. “Our ability to deliver a ‘no deal’ outcome recedes with every week that passes.”

Other officials preparing for the possibility of Britain leaving the EU without a deal say they are being discouraged from taking on projects that might only be needed should there be no agreement on customs and regulatory co-operation by next March.

Sir Ivan Rogers, the UK’s former ambassador to the EU, observed in a speech in Glasgow last week that the UK had still not set up the independent regulatory bodies that would be needed in the event of a “no deal” Brexit next year.

“If we want . . . genuinely to go it alone . . . then we have to be going full tilt in developing that regulatory capability at huge speed,” he said. “The fact that, in so many areas, we are obviously not doing that . . . is yet another reason why the EU side has long since concluded that the UK would not walk out.”

Another former mandarin indicated that the failure to set up independent regulatory bodies in the event of a no deal next year was causing most concern.

“How many years does it take to set up a medicines agency?” he said. “Or chemicals approval? Or civil nuclear-safety standards? Or a new state aid policy? Where is the legislation? Where are the skilled staff coming from?”

In last December’s Budget, Philip Hammond, the chancellor, allocated £1.5bn for “Brexit preparedness”, which covers all aspects of Brexit planning, including a “no deal” scenario.”

However, government officials concede that the new money only became available in the financial year starting in April and that it is still too early to make a judgment on how it might be spent.

A further £1.5bn has been set aside by Mr Hammond but this is only being earmarked for the financial year after March 2019 when the UK is formally due to leave the EU.

On Sunday, Jacob Rees-Mogg, the leading Conservative Brexiter, urged Mrs May to revive her threat to leave the EU without a deal if Brussels takes an uncompromising approach in the Brexit negotiations.

He told the BBC that Mrs May should threaten not to pay the £40bn “divorce bill” agreed with the EU in December. “We should say quite clearly: ‘If we don’t get the trade deal we want, you don’t get the money.’ That’s a very strong negotiating position.”

But hardline Brexiters, both in cabinet and on the Conservative backbenches, claim that Mrs May, Mr Hammond, cabinet secretary Sir Jeremy Heywood and Olly Robbins, the chief Brexit negotiator, have conspired to avoid serious “no deal” planning for next March to such an extent that it is no longer a realistic option.

Dominic Cummings, one of the masterminds of the pro-Brexit referendum campaign, wrote last week: “The Treasury argues . . . that given the actual outcome of the negotiations will be abject surrender, it is pointless wasting more money to prepare for a policy that has no future and therefore even the Potemkin preparations now under way should be abandoned.”

A Number 10 spokesman said: “The prime minister is committed to getting the best possible Brexit deal, one that works for the UK and the EU. The government is committing extensive resources as part of our preparations for leaving the EU — whether in the event of a deal or not, and at the autumn Budget the chancellor allocated £3bn specifically for our exit preparations.”

https://www.ft.com/content/23663bc4-619e-11e8-90c2-9563a0613e56


Complete fiasco. Well done Cameron you idiot.

Poll: Who is to blame for the current situation?

1
The Countdown begins. on 09:17 - May 28 with 380 viewsShaky

The Countdown begins. on 20:09 - May 27 by Highjack

Christ it took two people to write that drivel?


Wake up and smell the coffee.

Even the Daily Mail is recognising the good ship 'Hard Brexit' is sinking with the loss of all hands.

+++++++++++++++++++++++++++++++

We're on the road to Car-mageddon: From JOHN NEILL, the boss of Britain's biggest automotive firms, a devastating indictment of how hard Brexit will drive his industry to ruin
By John Neill, Unipart Chief Executive

Daily Mail 27 May 2018

Hard Brexit will drive industry to ruin

Back in the bad old days of the 1970s, the British car industry was almost brought to its knees by a rabble of militant trade unions. I know, because I was there – and it was devastating to watch.

Thanks to my talented and hardworking colleagues, we were able to salvage success from the jaws of defeat. Together we created the automotive parts business Unipart out of the old British Leyland – a firm that had become a byword for all that was wrong with motor manufacturing in the UK.

Today, Unipart employs more than 6,000 people and has a turnover of £900 million, supplying major car manufacturers at home and abroad with components and spare parts.

As such, we are at the heart of an automotive sector that has become one of the greatest stories of industrial revival in history. UK car production rose like a phoenix from the ashes of the 1970s and today provides more than 800,000 jobs in Britain.

Why, then, am I filled with a sense of foreboding? Quite simply because I fear hardline Brexiteers are in danger of achieving what that rabble of militant trade unions failed to do: destroying the British car industry.

Full story: http://www.dailymail.co.uk/news/article-5775771/Were-road-Car-mageddon-hard-Brex

Misology -- It's a bitch
Poll: Poll: Which former manager would you most like to see back in charge now

1

The Countdown begins. on 09:24 - May 28 with 376 viewspikeypaul

Sorry for the lack of update on the countdown to the glorious day I know
you all can not wait until we are out .

305 AFLI

SIUYRL

Poll: Next major war involving UK against a super power ?

-1

The Countdown begins. on 09:35 - May 28 with 372 viewsNogginthenog

It will be interesting to see the disaster of Brexit unfold and our once great nation like paupers in comparison to our European friends. We will probably then have a new thread called The Countdown to Disaster begins. Suck it up PP you lunatic.
1
The Countdown begins. on 11:31 - May 28 with 344 viewsHighjack

The Countdown begins. on 20:12 - May 27 by exiledclaseboy

How do you know it’s drivel? Do you have insider knowledge of how the government and the civil service is preparing for when the U.K. leaves the EU.


It’s taken two highly paid journalists to cobble together a bunch of quotes from Phillip Hammond, rees mogg, a conveniently unnamed government official and a former mandarin, whatever that is. I imagine that’s the skin disease Donald Trump has.

The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which.
Poll: What should Lord Bony change his name to?

-1
The Countdown begins. on 15:47 - May 28 with 307 viewspikeypaul

The Countdown begins. on 09:35 - May 28 by Nogginthenog

It will be interesting to see the disaster of Brexit unfold and our once great nation like paupers in comparison to our European friends. We will probably then have a new thread called The Countdown to Disaster begins. Suck it up PP you lunatic.


I am fecking loving it.

305 and we are OUT.

Well done Cameron you gave the people the choice and we democratically choose to leave,just a shame the loser remoaners can not accept democracy.

But hey that is their problem.

305 AFLI
[Post edited 28 May 15:49]

Poll: Next major war involving UK against a super power ?

-1

The Countdown begins. on 17:24 - May 28 with 278 viewsShaky

Treasury and BoE clash over City of London regulation after Brexit
Officials say central bank deputy governor Jon Cunliffe has fallen out with Treasury

By George Parker and Chris Giles in London

FT, 28 May 2018

The Treasury and Bank of England are at loggerheads over the future of City of London regulation after Brexit, with claims that relations on the issue are now “very, very bad”.

Chancellor Philip Hammond wants to keep Britain close to the EU rule book to ensure maximum access for City institutions to the European market, while the BoE is opposing any compromise that would leave it as “a rule taker”.

A fragile truce between the Treasury and the central bank has been shattered by the growing fear in London that the EU will not accept Britain’s original proposal for City regulation — a “mutual recognition” plan that would have given the BoE the regulatory autonomy it seeks.

That proposal was declared dead at the outset by EU chief negotiator Michel Barnier.

The search for a Plan B has generated acrimony, with the BoE believing that Mr Hammond, in the hope of securing an EU trade agreement in financial services, is willing to sign up to a deal that would give Brussels significant sway over the City.

A number of officials have confirmed that Jon Cunliffe, the BoE’s deputy governor for financial stability, has fallen out with the Treasury on the matter. One BoE official said: “The fear is that the Treasury is going to give it all away.”

Another said: “It is very, very bad. The bank wants to have as much control as possible and doesn’t want to be a rule taker.”

Another official close to the Brexit negotiations said: “It’s terrible. Relations between the BoE and the Treasury on this are at new lows.”
Tensions were manageable for as long as both were able to unite behind a proposed system of “bespoke dynamic mutual recognition”, under which the BoE would agree with Brussels regulatory outcomes but have freedom to set its own rules to achieve them.

The bank wants autonomy to set its own regulatory regime because of the sheer size of Britain’s financial services sector. Mark Carney, governor, said last year: “We do not want to be a rule taker as an authority.”

Mr Hammond, backed by the Treasury’s head of financial services Katharine Braddick, is exploring ways of co-ordinating regulation with Brussels to try to secure an improvement for the UK to the EU’s equivalence regime, a limited deal currently offered to third countries such as the US.

The chancellor said in March that the EU had “legitimate concerns” about the future regulation of the City, saying he was ready to engage with Brussels. He has been careful to reject only “automatic” rule taking by Britain after Brexit.

The BoE denied there was any rift with the Treasury and insiders at the finance ministry said the two institutions had worked together closely on Brexit on a range of issues.

Decisions on the future regulatory regime for the City will be taken by the government. Prime Minister Theresa May hopes a free trade deal covering financial services, including regulation, can be agreed with the EU.

A Treasury spokesman said: “HM Treasury and the Bank of England are united in our aim to ensure the stability and prosperity of our economy, and we are working together to ensure that the UK continues to remain the pre-eminent financial services centre of the world.

“We agree the United Kingdom cannot be an automatic ‘rule taker’. We will start our first day outside the European Union from a unique position with full alignment.”

https://www.ft.com/content/db4ce5ea-625b-11e8-a39d-4df188287fff

Misology -- It's a bitch
Poll: Poll: Which former manager would you most like to see back in charge now

1

The Countdown begins. on 18:37 - May 28 with 259 viewsKilkennyjack

Tory Plot To Pull UK Out Of EU Working Time Directive Could See 7m UK Workers Lose Rights To Paid Holidays. Here we fecking go .....

‘Beware of the risen people’ ........🍀🇮🇪 💚 YesCymru 🏴󠁧󠁢󠁷󠁬󠁳󠁿

0
About Us Contact Us Terms & Conditions Privacy Cookies Advertising
© FansNetwork 2018