The question of ‘no deal’ Brexit should have never arisen because it means that the British are so bereft of ideas and workable proposals. It shows we are weak negotiators. How will they be able to negotiate international trade agreements.? They have to come out of this defeatist idea and tackle the situation positively notwithstanding the divisions in the Tory and Labour party. The national interest comes first and not personal interests of individuals. In negotiations there is always give and take, compromises and adjustments. One has to be flexible and not dogmatic. The government has to get off the high horse and get down to brass tacks and sort out this messy situation Time is running out.
Car manufacturers like Nissan in Sunderland who employ over 8,000 people are worried about their future in UK. The Centre for European Reform (CER), a research group that focuses on the European Union, said the British economy is about 2.5 per cent smaller than it would have been if the public have voted to remain in the bloc in June 2016. The findings were based on the impact on the economy until the end of June 2018.
A lot of Japanese companies, manufacturing companies in particular, have invested in this country as a gateway to Europe,” Shinichi Iida, minister for public diplomacy and media for the Japanese embassy in London, said in an interview. “A no-deal Brexit in March next year will be nothing short of a cliff edge” for our businesses. Japan is the biggest investor in Britain aside from the U.S. and a handful of European neighbours. About 1,000 Japanese companies operate in the U.K. employing roughly 160,000 workers.
Toyota Motor Corp. said that it might have to temporarily halt output at its plant in Derby, England, in the event of a so-called hard Brexit. Electronics maker Panasonic has moved its European headquarters from near London to Amsterdam, while the Japanese retailer of Muji products is mulling a similar relocation to Germany. Other companies, like robot maker Yaskawa Electric Corp., are choosing continental sites for new operations in order to stay close to European customers if Brexit creates trade hurdles.
British men employed as manual workers are most at risk from Brexit, according to a IFS report. The majority of working-class British males with no qualifications voted for Leave in the referendum, according to data from Ipsos Mori.
London will be losing its position as the world’s financial centre to Paris, the banks are moving out of United Kingdom. In the end the final outcome of the negotiations has to be approved by the British Parliament before it becomes an official trade agreement. Failing that the British people will have to decide whether to approve or disapprove the final agreement.
Baldev Sharma
Rayners Lane, Harrow.
