Re: Brexit impact on City of London
Originally Posted by 7779311
I would not know any other reason. But there are more questions (at least for me):
- is it still only a small price to pay for the sovereignty?
- why was it no bigger issue furing the TCA negotiations?
- is the UK really planing to rebuild production to get away from the high percentage of financial services to the GDP?
Interesting development and IMO pretty difficult to paint it pink.
What sovereignty? The UK never lost it, but is now handing it in bit by bit. Every trade deal requires adjustment to standards and rules of the trade partner.
TCA negotiations were, with assent of both parties, explicitely not on services. If they were, it would have given the EU great leverage during the TCA negotiations, since the UK has much to lose on access to the single market of services.
Of course not! Remember they lost out to cheaper producing countries on much of their produce. It was the protection of the single market of the EU that provided for the possibility to sell their goods. And still there was an enormous deficit.