Brexit Developments – 27 November

Baskar Sundaram
Baskar Sundaram

Source : Deloitte

This Week’s Top Five :

  • In person trade negotiations will continue this weekend as EU chief negotiator Michel Barnier tweeted he is “travelling to London this evening to continue EU-UK trade talks”. Barnier will be briefing Member States and EU Parliament today but indicated the “same significant divergences persist”.

  • European Commission President Ursula von der Leyen tweeted the UK and EU are approaching “decisive days for our negotiations. There has been progress but I cannot tell today if in the end there will be a deal”. Von der Leyen indicated that whilst both sides “prefer to have an agreement” there will still be clear differences between “being a full EU member and being just a valued partner”.

  • The UK and Canada agreed to roll over the current trading arrangements and begin discussions on a new UK-Canada trade deal in 2021. International Trade Secretary Liz Truss said the agreement “underpins £20 billion worth of trade and locks in certainty for the thousands of jobs. We [UK government] look forward to striking a new more ambitious deal next year with the aim of creating more opportunities for businesses and improving the lives of people across the country.”

  • On Tuesday, the Fisheries Act passed into law which gives the UK full control of its fishing waters and “ends the current automatic rights for EU vessels to fish in UK waters.” Environment Secretary George Eustice said “the Fisheries Act makes clear our intention to continue to operate on the world stage as a leading, responsible, independent coastal State.”

  • The UK government and Financial Reporting Council (FRC) issued letters to accounting and audit firms setting out changes to the UK’s reporting framework at the end of the transition period.

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