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Retail, Food, and Hospitality Brexit round-up 2 December

05 December 2018
Brexit Flags
We know that Brexit is one of the key issues you need to keep abreast of in order to plan for the future of your businesses. This dedicated weekly update will help you stay ahead.

Key take away this week

Just when you thought that we might have a degree of stability after the withdrawal agreement was announced, this week we are faced with the Advocate-General of the EU Court of Justice concluding that the UK can unilaterally rescind Article 50, the Government losing three key motions in Parliament and being forced to disclose its legal advice on the withdrawal agreement and louder calls for a second referendum all before the true politics of the debate on the withdrawal agreement really got going. 

Buckle up, the next few weeks could be a bumpy ride as the Government tries to pass the agreement and avoid more confusion and uncertainty and we see if the Court of Justice adopts the Advocate-General's opinion. 

 

Brexit Developments

Prime Minister statement to Parliament re outcome of EU Council 26th November: View >

Dexeu publish texts of withdrawal agreement and political declaration on future relationship: View > 

EU chief negotiator addresses European Parliament debate:

“It is now the time for ratification by the UK, the European Parliament and the Council” underlined Michel Barnier. “Leaving the EU cannot be business as usual, there is no added value to this negotiation”, but the agreement reached allows for an orderly withdrawal. Michel Barnier underlined that the political declaration paves the way for an ambitious cooperation of an “unprecedented scope” in the future with the UK. The Parliament is set to vote on the withdrawal agreement in early 2019, before the final vote of the Council. View > 

National Audit Office publish analysis of the ‘Financial settlement’: Part One sets out the different components of the agreement. It highlights that, if the UK and EU ratify the withdrawal agreement, the UK will be committed to making financial settlement payments before the future relationship has been finalised. This part also explains that any costs that might be associated with the UK’s future relationship with the EU are outside the scope of the financial settlement, as are the costs that the Government is incurring in preparing for withdrawal. Part Two sets out the latest estimates of the financial settlement’s value based on new information that has become available. Although latest Government estimates of the financial settlement’s value remain within the range of HM Treasury’s initial central estimate, uncertainties remain about what its actual value will be.  View >

 

The post-Brexit consumer: DWF's temperature check

Our Global Consumer 2019 report in association with Retail Week will be released in December. Our sneak peak focuses on Brexit - we interviewed 1,000 UK consumers to determine how the decision to leave the EU has impacted their outlook for the future. View >

 

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Further Reading