Media Coverage

Media Coverage

Financial Times
| One in three FTSE 100 companies worries about tax

Tax, terrorism, regulation and Brexit are the four biggest worries for FTSE 100 companies, according to analysis of their annual reports.

“Some firms in the extractives sector... are worried about the impact of lower commodity prices on the fiscal positions of the countries they operate in and what this means for tax policies,” said a new report, from Global Counsel, an advisory firm.  

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Financial Times
| Brexit fear hits foreign direct investment

Gregor Irwin, of consultants Global Counsel, said foreign investors disliked regulatory and political uncertainty and that was what Brexit implied. “The frank admission by Michael Gove that leaving the EU would mean leaving the single market will concern any potential investor who wants to use the UK as a base for their European operations,” he said.

“Inward investment in the UK will be held back until the uncertainty over Britain’s relationship with the EU is resolved.”

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Bloomberg View
| Losing the U.K. wouldn't be so bad for Europe

In a 2015 paper, the strategic advisory firm Global Counsel wrote that, without the U.K. present, "it would become harder to block illiberal measures. Moreover, there would likely be a new regulatory dynamic."

The firm pointed out, however, that the EU would still be pressured to liberalize its policies because it would be competing with the U.K. for investment.

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| Dutch Ukraine referendum: EU ability to sign international treaties at stake

The EU is set to continue with business as usual in its dealings with Ukraine after the Dutch no vote in a non-binding referendum on the EU Ukraine Association Agreement on Wednesday (6 April).

Daniel Capparelli, an analyst with the consultancy Global Counsel in London told BNE Intellinews: “Rutte will likely push for additional assurances from Brussels that the agreement may not be interpreted as a step towards EU membership, and a renewed commitment from Kyiv to accelerate the implementation pace of its reform program."

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| Brexit and Britain - what would it mean for UK trade?

Only a few of the 55 British officials in the European Commission's trade department actually work on trade deals. "Britain's trade negotiators would need technical and legal experience, which is accumulated over many years, and they would be stretched by the need to negotiate simultaneously on multiple fronts," said Gregor Irwin, chief economist at Global Counsel, a consultancy firm led by Britain's former EU trade chief Peter Mandelson. "No country has ever tried to do this before."

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Adam Smith Institute
| Ten questions for the “Leave” campaign

Let’s ignore the fake alternatives of HMG’s recent papers - the scare stories about the UK’s position with third countries. We can’t however, ignore the fact that the “leavers” need to come up with a crisp account of what they expect the electorate to vote for. Let’s orient ourselves by looking at the table of alternatives below.

This table is largely based on material from Global Counsel, a “stay” outfit, but it succeeds in illustrating the political character of the alternatives.

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Russian View
| Foreign companies at crossroads

Russia is now entering its longest economic downturn since the fall of the Soviet Union. Post-Soviet Russia has been characterised by frequent highs and lows, but those shifts in sentiment have always swung back swiftly.

For foreign investors in Russia this meant riding out a short storm, cutting their cloth accordingly and waiting for the upturn that was just around the corner as the laws of commodity driven supply and demand righted the ship.

Times have changed, and in February the crisis has entered its third year, by comparison that’s half the length of the Second World War.

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| Trade outside the EU – can Britain prosper alone?

Much depends on the deals we can negotiate. According to Dr Gregor Irwin, former chief economist at the Foreign Office, in a long report on Brexit for advisory firm Global Counsel, the UK’s trade policy priorities are in reality unlikely to be much different from the EU’s, but leaving would give it less leverage and make it a lower priority trade partner than the EU for other major economies. He argues that size matters more than ever, given that trade negotiations are increasingly bilateral or regional, rather than multilateral.

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| Osborne one laughing now as HSBC validates ‘New Settlement’

At a packed lunch in Davos last month, Chancellor of the Exchequer George Osborne drew laughter from captains of U.K. industry when he thanked HSBC Holdings Plc Chief Executive Officer Stuart Gulliver for his opening speech.

“This is a relief for the chancellor,” said Gregor Irwin, a former Treasury official and now chief economist at Global Counsel, a London-based consultancy. “It would have led to questions about his judgment had they left.”

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City A.M.
| HSBC's Paris pledge reveals Brexit's hidden risks for the City

The truth is, we don't know what it would mean for the City if the United Kingdom votes for Brexit.

There are too many uncertainties. That's one reason why HSBC has said today that it could shift as many as 1,000 jobs from London to Paris if the UK leaves the EU.

But the impact could be greater than the Big Bang, and it is time for everyone in the City to start thinking through what it might mean for their business.

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