Abu Dhabi agrees multibillion-pound investment in British business Mubadala fund to focus on life sciences, health, technology, clean energy and infrastructure The UK government hopes to secure investment for green energy projects as it prepares to host the UN COP26 climate change summit in November © Bloomberg Share on Twitter (opens new window) Share on Facebook (opens new window) Share on LinkedIn (opens new window) Share on Whatsapp (opens new window) Save Andrew England and George Parker in London MARCH 23 2021. The United Arab Emirates has agreed a multibillion-pound investment partnership with the UK to invest in British health, technology, clean energy and infrastructure, delivering a significant post-Brexit boost to Prime Minister Boris Johnson. As part of the deal, Mubadala, one of Abu Dhabi’s most active state funds, will pump £800m into the life sciences sector over five years alongside £200m from a British government fund. The investments in the other three selected sectors are expected to be of a similar or larger scale through to 2026, suggesting the overall investment could be up to £5bn. Officials said the exact size of the total investment was not clear but that the $232bn Abu Dhabi fund “only deals in big numbers”. The partnership’s focus will now switch to tech, clean energy and infrastructure.

From the FT

Hi

Why is this good news, they are simply buying our expertise on the cheap.

We gain absolutely nothing.

I posted about this almost two weeks ago in the "Trade figures since Brexit" thread so it's old news now.

https://www.over50sforum.com/showthr...89#post2060789

Absolutely right. This is more current news. You probably have received this lettre too, but let me cite from it.

JPMorgan's chairman and chief executive opined that “few winners are likely to emerge” from the UK's decision to leave the EU which will make financial services fragment across multiple cities including Amsterdam, Frankfurt, Paris and Dublin.

In his annual letter to shareholders, Mr Dimon wrote: "In the short run (ie, the next few years), this cannot possibly be a positive for the United Kingdom’s GDP – the effect after that will be completely based upon whether the United Kingdom has a comprehensive and well executed strategic plan that is acceptable to Europe."

He added: “Brexit was accomplished, but many issues still need to be negotiated. And in those negotiations, Europe has had, and will continue to have, the upper hand."

One bloke's opinion trumps all others eh?


Back in the real world and the UK is forecast to do far better than the EU in coming years.
Even according to the EU themselves.

Furher promising signs reported by the FT on March 28th this year:

"The latest UK economic data has been significantly better than economists expected, suggesting households and companies have been more resilient to the latest lockdown and Britain will climb international economic performance league tables in the months ahead."

https://www.ft.com/content/b9c22fa7-...8-4af53c6a687f

Absolutely right. This is more current news. You probably have received this lettre too, but let me cite from it.

JPMorgan's chairman and chief executive opined that “few winners are likely to emerge” from the UK's decision to leave the EU which will make financial services fragment across multiple cities including Amsterdam, Frankfurt, Paris and Dublin.

In his annual letter to shareholders, Mr Dimon wrote: "In the short run (ie, the next few years), this cannot possibly be a positive for the United Kingdom’s GDP – the effect after that will be completely based upon whether the United Kingdom has a comprehensive and well executed strategic plan that is acceptable to Europe."

He added: “Brexit was accomplished, but many issues still need to be negotiated. And in those negotiations, Europe has had, and will continue to have, the upper hand."