May’s Brexit vision is starting to take shape
22 February 2018
With just 13 months until Brexit, May’s vision is starting to take shape. This is what we know so far:
May wants to pick and choose EU rules.
May wants to drop EU rules in some areas, for example financial services. But in other areas, sticking to EU regulations is favoured, for example manufacturing goods such as vacuum cleaners.
When it comes to data, May was clear she doesn’t just want alignment, she wants the U.K. to keep its role in making the rules. Data is key for businesses as well as security and defense -- where May also wants a tight relationship.
Merkel indicates tolerance for “cherry-picking”.
German Chancellor Angela Merkel indicated on Friday that seeking a tailor-made deal after the split doesn’t necessarily mean “cherry-picking.” While the Commission says May has to choose between the kind of relationship Norway has with the bloc -- close economic ties but following rules it has no say in making -- or the trading relationship that Canada has, Merkel opened the door to something in between.
Latest fight is over enforcement
The Cabinet is now discussing how the future relationship between the U.K. and the EU should be: Enforced or policed. It is a controversial issue, because breaking free from the EU institutions and its regulations was a big selling point for the Brexit campaign. But a close trading relationship will probably require European regulators to have at least some influence or enforcement.
Brexit soft on immigration
Where the Brexit is aiming for a hard exit on a lot of subjects, immigration isn’t one of them. Their views are more aligned with the pro-EU elements. Mostly because of the fact that a lot of immigrants make a great contribution to their economy, with 155.000 Chinese students alone.
Ross-Thomas, E. (February 19th, 2018) Brexit Bulletin: Theresa May’s Vision Emerges. Bloomberg.