Recent reports suggest that Brexit will open up a vast €10.2billion (£8.99bn) hole in the European Union’s coffers when Britain permanently quits the bloc in 2021 – leaving bigger bills for other European Union nations.
Richard L. Gosling, a prominent UK-based businessman, spoke to BE’s Shahana Banerjee on how far the process of Brexit has been realised and sheds light on the challenges that lie ahead.
Q. How far has the process of Brexit been realised?
A. A major step was made in the last two weeks on the mechanism to calculate the amount of money the UK will pay to exit and it was estimated to be around $35 billion. Another bone of contention was the border issue between Ireland and Northern Ireland (NI). People were concerned about re-imposing a “hard” border but this fear has now been reduced and it was agreed with the EU that NI and Ireland would maintain commonality to avoid check points. The overall progress has been slow, and a lot of the ‘promises’ made by UK politicians during the campaigning before the Brexit vote have fallen through. A few weeks back, a vote in our House of Commons defeated a requirement to not have a vote on the final deal. This means that politicians will have a final say to accept whatever the final deal looks like and this could be difficult depending on what comes of negotiations over the coming years.
Q. How does the EU plan to treat the UK after the latter is dropped from all its institutions and agencies?
Diese Geschichte stammt aus der January, 16 - 31, 2018-Ausgabe von BUSINESS ECONOMICS.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der January, 16 - 31, 2018-Ausgabe von BUSINESS ECONOMICS.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Deposit shortage: challenges facing India's banking ecosystem
In any macroeconomic framework, the household sector plays a critical role as a driver consumption, savings, and overall economic activity.
India's future dreams in Semiconductors & AI
A midst the gloom of the RG Kar affair or the Tirupati laddu scam or even the continued terrorist attacks in Jammu & Kashmir, even after the completion of the first general election in the state, we find hope and encouragement when the founder of Nvidia, Jensen Huang, in his recent visit to India says \"India will be a gigantic opportunity for us\".
The Ramayana: Justice and Modern Man
Consisting of Twenty-Four Thousand worthy Sanskrit verses, the Ramayana is one such epic, which provides a pathway to one committed to justice to establish himself as an ideal human being by following the exemplary life of its hero.
Vallabhbhai Patel: A Sardar of Farmers, A Matchless Social Reformer and the Maker of United India
Sardar Vallabhbhai Patel was instrumental in unifying the princely states to form the Union of India.
Understanding Prosperity: NOBEL Prize awarded for groundbreaking research on institutions and economic development
The Royal Swedish Academy of Sciences has awarded the Memory of Alfred Nobel to three US-based economistsDaron Acemoglu, Simon Johnson, and James A. Robinson\"for their studies on how institutions are formed and affect prosperity.\"
Sinking Resources: Groundwater crisis and sustainable solutions in Kolkata
Kolkata's underground water crisis is becoming a serious issue, driven by rapid urbanization and the construction of high-rise buildings.
Tourism Industry positively impacted by the festive season
Diwali transforms streets into a spectacle of festive lights, Diwali transforms streets into olis, and families gearing up for grand celebrations.
RBI's Shift to a Neutral Stance: Signaling a New Phase in Monetary Policy
For over a year, the Reserve Bank of India (RBI) has taken a firm stance against inflation, raising interest rates by 250 basis points between May 2022 and February 2023 in response to post-pandemic price pressures.
UK Budget
There _ he latest UK budget represents a departure from previous fiscal documents.
Han Kang's Historic Nobel Prize Win
The 2024 Nobel Prize in Literature has been awarded to T South Korean writer Han Kang, 53, known for her works including The Vegetarian, The White Book, Human Acts, and Greek Lessons.
