City veterans and business leaders have carefully welcomed the Prime Minister’s Brexit agreement, but warned that a similar agreement in the city is now “urgent.”
The trade agreement, announced on Christmas Eve and unclear in detail, follows four years of negotiations with the European Union.
Before the stock market closed at lunchtime on Thursday, the pound rose slightly on the news that trading was imminent and the pound stabilized at 1.11 euros.
Prime Minister Boris Johnson Announces Brexit Agreement on Christmas Eve
Remainers and Brexiteers also welcomed the conviction that the agreement would bring business and market.
Gerald Lions, an economist and Brexit advocate who advised Boris Johnson, said: “This transaction has been well received economically and politically and has already been well received in the financial markets.”
Lions predict that the economy will grow 8% next year and rise “beyond pre-Covid levels” in early 2022. ‘.
But he said it should “alleviate some uncertainty” and “be positive for Britain and provide a good future relationship with the EU”, which will boost the economy with keen policy making. Stated.
Crispin Odey, Hedge Fund Manager at Brexiteer, said: They didn’t want it, and it looks as close as you can reach a free trade agreement – a proper agreement.
“Obviously, a lot of paperwork related to trade with Europe will be hell … but likewise, technology is always coming, so these things can be solved,” he said. “The big elephant in the room” said the service and the city of London.
Gerald Lions, an economist and Brexit supporter who advised Boris Johnson, said the deal “will be well accepted economically and politically.”
The services sector accounts for about 80% of UK GDP and is not eligible for this transaction. The financial services industry is of particular importance, with London being the second most important financial center in the world.
Oday said Covid-19 is now a “real problem” for the economy.
However, Nigel Terrington, CEO of financial services provider Paragon Bank, said:
Richard Buxton, a veteran fund manager at Jupiter Asset Management, said:
“So we have an office in Europe and have arranged to continue to serve our European clients as much as possible.”
Brexiteer and hedge fund manager Crispin Odey said the “big elephants in the room” are services and the city of London.
However, Sir Rose, chairman of Ocado and former head of the campaign to maintain Britain’s strong in Europe in 2016, said he was “relieved to have signed a contract.”
Former President Marks & Spencer added: ‘Congratulations to everyone, as it took all sides to come to the party. I’m sure the devil is in the details.
“We know there is more bureaucracy. There are some things we personally can’t do for 45 years. That may be a little surprising.”
“It will be a compromise. All negotiations are a compromise. But for me, this is the smaller of the two evils.”
Kevin Ellis, UK Chairman of PwC, said:
“Along with the positive developments in vaccination against Covid-19, business leaders will feel they can start planning for the future.”
However, Peter Hargreaves, co-founder of Hargreaves Lansdown, said: ‘I voted to leave the EU. completely. There was no way for us to get a wise deal as it ends the EU as all other countries want the EU.
“In my opinion, it should have been only a free trade area. All this political union is absolutely ridiculous.
“I think we will completely withdraw from this deal in the next five years.
“We must not forget that we are a resilient group. The Covid virus has caused a lot of sadness in this country, wasting hospitality and the tourism industry. It was terrible for them. , They will come back stronger. “
Hargreaves added: “But we’ve adapted to the situation and would have done exactly the same as if we came out of Europe, so I don’t care what this deal is, it’s bad.”
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Now trade for the city, Boris says
Source link Now trade for the city, Boris says