"The government needs to make sure it has an operation that is bigger than the sum of its parts, rather than simply relying on one or two star performers. It needs to trust more of the government’s own ministers to take meaningful decisions, rather than relying on Number Ten to get it right every time, all the time; it needs to get a thicker skin about criticism, understanding that some of it means well, even if much of it is partisan; and, even with its significant majority, it needs to pick its battles." Alex Dawson for GQ magazine.
“Where the UK ends up on sustainable finance will be significant because this is one of the first financial files where the UK may diverge from the EU, even though they agree on the main policy substance,” Denzil Davidson for the Financial Times.
"There is perhaps a role for the World Trade Organization in helping states work on transparency protocols and best practice for lifting and imposing travel bans or restrictions." Global Counsel's Stephen Adams comments for the Financial Times.
“The importance of Airbus transcends the purely economic aspects of its activities,” said Daniel Capparelli, Practice Lead for Trade and Manufacturing. Airbus, he said, is the “flagship example” of choosing and supporting European Union-wide industrial champions.
The first budget of Boris Johnson's government was designed to keep those who put him in power happy, embracing public spending while shying away from the bigger issues that the UK will soon be facing - Alex Dawson for GQ.
“Coronavirus is going to impact on the ability of companies to be ready for anything,” said senior director Stephen Adams. “The last part of the year will be the most intensive in terms of getting the border ready, and that is also autumn and winter, when we could get a second wave of this.”
Gregor Irwin observes that the economy could be fundamentally reshaped by what it's about to go through. Where there are supply shocks, and a lack of staff or supplies means no amount of money can secure them, we may be heading into rationing territory.
It will be a test of governments, he suggests - how they respond to that, where the only rationing we're used to is of healthcare.
How will financial regulation change after Brexit? “The UK’s departure changes the balance of the debate on openness within the EU and gives countries like France greater weight,” - Denzil Davidson comments for the Financial Times.
Confident Conservatives believe they can disrupt and undermine the mainstream media with the support – or indifference – of the voters who put Boris Johnson in Number Ten. The old guard must adapt or be left behind - writes Alex Dawson.
The Wall Street Journal
The Wall Street Journal CFO Journal
| Executives Brace for Post-Brexit Changes
Finance chiefs and other executives are tracking a multitude of changes associated with Britain’s exit from the European Union. There won’t be much of an immediate impact on Friday, the scheduled departure day. An 11-month transition period, during which many existing rules and regulations continue to apply, is expected to give CFOs a chance to prepare for the end of the changeover.
Until then, finance executives can expect changes to banking regulation. Brexit brings significant changes to banking regulation. The so-called passporting regime which allowed U.K.-based financial institutions to offer their services on the continent won’t apply after Brexit, according to Denzil Davidson, head of the financial services practice at advisory firm Global Counsel.