Chris Leslie Profile picture
Jan 29, 2018 6 tweets 3 min read Twitter logo Read on Twitter
If Britain’s leaving the EU, we’ve surely GOT TO know what the replacement trade deal looks like - so we know where we’re heading? Trouble is, this Government’s ‘implementation’ phase is woeful. Putting a plank on the cliff edge doesn’t make the fall easier. #transition #Brexit
Britain really should settle the new trading partnership before ‘exit day’, because leaving without any guarantees expands uncertainty for business & undermines economy. Why are Ministers sanguine about allowing just 6 months to negotiate future relationship? #transition #Brexit
Some hard Brexiteers actively want to dive off the cliff into ‘no deal’. But to see others only now realise that exit in March 2019 inevitably means the UK will be a rule-taker subject to existing EU rules reinforces how little they thought this process through before referendum
Theresa May has duty to prioritise permanent trade deal; you can’t have a ‘bridge’ without concrete destination on other side. The EU naturally expect UK to stick with current rules while this is worked out. If we’re sticking by the rules, we should be still around the table.
Our 40 free trade agreements - covering nearly 15% of our trade – will expire on ‘exit day’ unless EU allow the UK to stay party to these. The promise from @LiamFox of bilateral replacements with “up to 40 ready for one second after midnight in March 2019” has been quietly binned
There’s a better solution: let’s keep our leverage, keep our seat at the table, keep our 40 free trade agreements and not set off across the ‘bridge’ until we’ve an agreed destination. Extending the Article 50 period looks like the pragmatic option the PM should adopt #transition

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More from @ChrisLeslieUK

Mar 4, 2018
The PM told #Marr the Canada trade deal (CETA) & draft US deal gave some hope that UK financial services access could be similar to existing ‘passporting’ rights with EU because “financial services are referenced” in those texts. But those ‘references’ are pretty derisory…
The EU-Canadian deal does not allow financial services firms to ‘do business’ or ‘solicit’ in each other’s territories without licence (Article 13.7.6). There just aren’t the automatic rights to establish business activities that UK currently has across Europe via #Single Market
Trump administration will not allow UK financial services access to American markets because any trade deal done at federal level won’t override local state-by-state licencing, insurance regs, banking licence conditions etc. So UK firms won’t be able to trade freely in the States
Read 5 tweets
Feb 22, 2018
Preventing a Brexit disaster - and the austerity this entails - requires more than the #CustomsUnion alone. So here’s a few reasons why Labour’s frontbench must, as a minimum, now also back the #SingleMarket (other than for the famous ‘four freedoms’):
Yes a Customs Union is needed. It helps 20% of our economy. For the other 80% (and growing!) of our economy, which is in ‘services’, we need the Single Market. The right to export UK service expertise is vital.
With 11% of our tax revenues coming from the UK financial services sector (£66bn), we need the Single Market so it can trade on the same basis as financial firms from the other 27 countries. We can’t pay for our NHS, schools, welfare support without this revenue.
Read 12 tweets

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