Julian Jessop quoted in the Daily Express

IEA Economics Fellow Julian Jessop is not concerned at news that Amsterdam has over taken London as Europe's biggest trading centre. Commenting in the Daily Express, Jessop said: "Right from the beginning of the year we knew that a lot of euro-denominated currency trading was going to move from London." EU rules forbid EU-based firms ... Continue reading

Julian Jessop quoted by the Daily Express

Despite predictions of thousands of jobs moving to the continent after Brexit, London will remain a global financial powerhouse, says IEA Economics Fellow Julian Jessop. Quoted by the Daily Express, Julian stated that Britain is a "relatively low tax economy, with far more flexibility in hiring in the labour market". As such, London will always ... Continue reading
Boris Johnson’s speech and the EU’s draft negotiating mandate issued on the same day illustrate both how close the parties are and how far apart. We have certainly come a long way since the dark days of 2019 when then Prime Minister May was seeking frictionless trade from the EU, while trying to tell her ... Continue reading
One of the larger benefits those of a liberal economics bent often ascribe to trade deals is that they provide an excuse for stripping away dumb domestic laws. A classic scenario is something like the following. At some point decades ago a government found it convenient to ally itself with either producers in some sector ... Continue reading
Government and Institutions
What's happened? The EU Commission and UK have agreed a new Protocol for Ireland/Northern Ireland and a new Political Declaration in respect of the future relationship. It is expected that the Council will endorse it at the summit this week, and UK Parliament will vote on it on Saturday. The main body of the Withdrawal ... Continue reading
Research

IEA releases briefing on the reality of customs union membership

Summary:  A customs union with the EU would come with significant costs to the UK’s economic, trade and foreign policies. Such an arrangement would also fail, by itself, to eliminate trade ‘friction’ with the EU. To do so would also require alignment with the Single Market rules for goods. A customs union would also come ... Continue reading
Yesterday, the European Parliament voted in favour of the Directive on Copyright in the Digital Single Market, in one of the final stages before it becomes law. There were protests against the Directive across Europe over the weekend, and campaigners were optimistic that these could be effective in view of upcoming European Parliament elections – ... Continue reading
Research

IEA publishes report on the EEA and EFTA models to leave the European Union

Summary:  There seem to be three broad variations to the EEA model: Not joining the European Free Trade Association (EFTA) and ‘continuing’ as party to the EEA Agreement Joining EFTA, and then becoming party to the EEA Agreement as an EFTA member Joining EFTA as an Associate Member and then becoming an EFTA party to ... Continue reading
Government and Institutions
Those who voted for Brexit in the 2016 referendum on Britain’s membership of the EU rightly complained about the centralised political structures in Brussels. The slogan was “take back control”. Even for Remain supporters, like me, that was an understandable slogan given the avalanche of regulation that comes from Brussels that affects our daily lives. ... Continue reading
Trade, Development, and Immigration
Olly Robbins assertion, slightly embarrassingly overheard and reported by a journalist - that the government is planning to give MPs a choice between voting for the Withdrawal Agreement or facing a lengthy extension of Article 50 - has caused controversy today.  His other comments, that the backstop was intended to be a ‘bridge’, (something that ... Continue reading