Prominent economists say a deal on the Northern Ireland protocol would unleash tens of billions of pounds in business investment for the UK, boost growth and hand the government more funds for public services or tax cuts. Lizzy Burden reports on Bloomberg Television.
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What sort of boost then are economists talking about the UK economy getting if we get this because on the one hand this might seem quite Niche you know it isn’t about necessarily the whole UK it’s about Northern Ireland and the protocol there but it sets a very different tone
What we’ve been hearing recently well the point is that a deal could potentially reduce uncertainty which would add to business investment and boost growth so Callum Pickering at berenberg has said that since the pandemic businesses have built up a cash War chest of about 100 billion pounds that they’re not investing potentially
Perhaps because of the constant threat of a trade war with Brussels so if you get rid of that it would help to unlock the investment I also spoke to JP Morgan asset Management’s Karen Ward yesterday who is an economic advisor to the chancellor she said that a booster business investment would be significant
And actually it’s the secret source that would help to unlock higher productivity and higher real wages the fact that she’s on a constant contact basis with the chancellor shows he’s cognizant of these economic benefits of a potential deal I would say that brexit affects the UK economy also via the labor market and
Trade and business investment of course is also impacted by things like the tax environment but if Jeremy Hunt could boost growth he’d have more room potentially for the tax cuts that so many in his party want and I suppose if you get a deal changes the mood as you
Like as you say reduces uncertainty means less chance of a bigger Fallout with the EU over trade and what about where we go from here then what happens next Lizzy well we heard from Rishi sunak in prime minister’s questions yesterday in Parliament and it’s clear that he’s stuck between on the one hand
The unionists of Northern Ireland and the Tory brexitos and on the other the red lines of Brussels what he suggested was that any deal would need legal changes to the existing Northern Ireland protocol to address this so-called Democratic deficit but as we’ve heard from Maro chefshevich the European commission vice president renegotiating
The protocol is unrealistic you know now the expectation is for a deal next week but really what everyone wants to see is the deal there’s frustration that the strategy seems to be that Richie sunac wants to get a deal to a stage that it’s agreeable to the European research group
Of brexiter MPS and the dup before he puts his cards on the table but he risks humiliation in Parliament if he relies on the opposition votes to get it through folds too early and that seems to be the position that the opposition is trying to coax him into
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂 UK owned by the Chinese…
Well done Brexiteers… 😜🤣🤣
Watch this trigger ❄️s…. 🤣🤣
Brexit was the stupidest thing I've heard of since my country elected a criminal as president in 2016.
Quit voting for conservatives.
Don't mind me. I'm the American reading all of the comments in a British accent 🍿🎩
The EU was not going to let the UK go unpunished.
Good lord you bozos keep doubling down on this Brexit thing. You'll show them!!! Whoever "they" are.. SOMEDAY!!!! 🤡🤡🤡
To all my British friends, you’re supposed to smuggle Hopium to the Chinese not get addicted yourselves
Key word…. could.
But me thinks… don't bet on it 🤪
Down with WEF & ESG
UK 🇬🇧 is finished without EU.
Blah Blah Blah Blah Blah
Bom the uk….
I wonder if those economists are as accurate as Yellen.
UK nepal pokhara
PLEASE STOP SNIFFING MY SHINY PUMP
LITTLE MAN LIVES IN MY SHOE
Don't they get cheaper imports from being in the union? 🤔 Wouldn't consumers pay more for the same things? Won't prices of home made goods only rise due to lack of competitive foreign prices?
Saying things like “A could cause B” means you’re not a real news station.
I stopped following this story in 2017. What deal are they talking about? Did they not leave years ago?
No matter how the uk wants to spin brexit it still is a bad deal. Look at the uk economy now?
All Brexit did was give a massive amount more leverage to the EU in the British economy. Its like being part of the board of directors of a company, then quitting the board, while still working for the same company. No nation can get out of the global economy. It has been that way for the last 5,000 years. We are all stuck having to deal with, work with, compete with, and be impacted by other extra-national economic forces. The UK will continue to toddle about with it's hat in its hand asking the 900 pound EU, and the 1800 pound US, economies to help it out.
Need to Launder all the Money being supplied by the USA through Ukraine. "Hemeraging extra money" lol 😂 the king 👑 is dirty
Getting out of the EU was the best decision the UK ever made. Why would you willingly sacrifice your political power to people who live outside your country and have no voter accountability?
UK is now a dictatorship
Keep doubling down. I'm sure if we make enough mistakes it will cycle through and fix everything