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A Brexit settlement that leaves the U.K. poorer will ultimately mean trouble for purveyors of advice, says Gregor Irwin, chief economist at London consulting firm Global Counsel. “We’re still very early in this process, and we haven’t yet seen the real impact of Brexit on big investment decisions,” he says. “Lawyers and consultants aren’t going to be immune to a broader economic slowdown.”

European Union (EU) member states failed to seal signatures of all 28 countries at a meeting to ratify the Comprehensive Economic and Trade Agreement (CETA) with Canada earlier this week, as the Wallonia region of Belgium remained opposed to the deal.

Commenting on the likelihood of the deal being signed next week, Daniel Capparelli of advisory firm Global Counsel tells GTR: “The signing of CETA on October 28 depends on whether a ‘Belgian compromise’ can be arrived at by this Friday’s European Council meeting. 

For the U.K.’s financial sector, Brexit is getting real. By the end of March negotiations are due to start, and British-based banks are scrambling to finesse plans for life after the European Union.

Nevertheless, the prospect of a “hard” Brexit, in which the U.K. cuts trade links with the bloc in return for control over its borders, looms over the sector. “It looks increasingly not ‘if’ but ‘when’ banks are going to have to trigger contingency plans,” says Stephen Adams, a partner at consultancy Global Counsel.

Alnylam Pharmaceuticals Inc.’s decision to proceed with its plan to set up a drug testing centre in Maidenhead, England comes amid growing concerns about the viability of operations in the U.K. post Brexit.

But there are still advantages for companies to open up shop in the U.K., said Gregor Irwin, chief economist at Global Counsel in London. And not all sectors will be affected the same way.

We are all familiar with Western media stereotypes about Russia. Businesses are normally less outspoken but no less concerned about possible risks.

But how do businesses themselves define “Russia risk”? This question became an integral part of a wider report on political risk published in June by Global Counsel team led by chief economist Dr Gregor Irwin. My colleagues analysed the annual reports submitted by FTSE-100 companies in 2015 to see how they see the risks they face in different markets.

For many campaigners, Brexit offers the chance to right a historic wrong: the UK turning its back on the Commonwealth on joining the EEC in 1973.

A recent report by former Bank of England economist Gregor Irwin argues forcefully against this view. Trade negotiations are costly, and Britain must focus on deals which offer the greatest return, he says. Forget Canada and Australia and “ruthlessly prioritise” talks with China and the United States. 

Since Britain’s vote in June to quit the European Union, its government has promised repeatedly to make a success of withdrawal, known as Brexit.

An analysis by Gregor Irwin of Global Counsel, an advisory firm with offices in Brussels, London and Singapore, concluded that the United States, along with China, Japan and some other Asian nations, should be top British priorities and that the country “should not spend too much time on India or Australia and it should largely forget about Canada.”

Theresa May’s new Brexit team of trade ministers should ignore the former Commonwealth and concentrate on the US and China, according to a new report from a former Bank of England economist.

The Leave campaign made great play of reviving ties with the former British Empire – such as India, Australia, New Zealand and Canada. But that strategy is rejected after a thorough look at five separate data indices, in the study by Dr Gregor Irwin, a former Foreign Office and Bank of England economist, for the Global Counsel strategy group.

The U.K. should focus on nailing down post-Brexit trade deals with the U.S. and China and not spend too much time negotiating with India, Canada or Australia, according to a study by Global Counsel.

Using a string of metrics, the London-based consultancy found that China, the U.S., Japan and Russia offer the greatest opportunities for commercial arrangements once Britain has left the European Union and so is able to liaise one-on-one with other countries.

The US will not start bilateral trade negotiations with the UK before it has split from the EU, according to the Government's trade representative.

"Some of the skills exist in Whitehal and people will need to be hired from around the UK. My guess is that the Government should do what it says it will do and look for expertise outside the UK," said Gregor Irwin, chief economist at Global Counsel, who worked in the foreign office for six years.