The British government is denying a report that it's pursuing a relationship with the European Union that would remove many economic barriers erected by Brexit.
for Britain. Treasury chief Jeremy Hunt last week expressed optimism that trade barriers between the U.K. and the EU would be removed in the coming years.
When the U.K. was negotiating its divorce from the EU, Conservative governments under Prime Ministers Theresa May and her successor Boris Johnson ruled out remaining inside the EU’s borderless single market or its tariff-free customs union. Politicians who wanted closer ties were ignored or pushed aside.
Yet only recently have members of the government begun acknowledging Brexit’s downsides. Hunt, who last week announced a ($65 billion package of tax increases and spending cuts to shore up an economy battered by soaring inflation, acknowledged Brexit had caused “trade barriers” with the U.K.’s nearest neighbors.
Sunak, who took office last month, is a long-time Brexit supporter, but also a pragmatist who has made repairing the economy his top priority. Russia’s invasion of Ukraine, which has rocked European security and sent energy prices soaring, has put Brexit squabbles into perspective for politicians on both sides of the English Channel.a political crisis in Northern Ireland
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK minister does not recognise report government wants Swiss-style ties with EUBritish health minister Steve Barclay said on Sunday he does not recognise a report that the government wants to move towards a Swiss-style relationship with the European Union.
Read more »
Chinese carmakers target more European sales with five-star EVsChinese electric vehicle (EV) makers have set their sights on winning over European drivers and large corporate customers with more affordable cars that come with top safety ratings and lots of high-tech features.
Read more »
Cellnex says inflation has shut down European phone masts market, Financial Times reportsThe European mobile towers market is 'pretty much closed' as rising inflation makes it harder for companies to finance new deals and the availability of assets declines, the chief executive of Cellnex told the Financial Times.
Read more »
European World Cup teams to defy FIFA in armband standoffFIFA has tried to end a standoff with European teams about wearing unauthorized captain armbands for an anti-discrimination campaign that draws attention to World Cup host Qatar.
Read more »
European markets head for lower open as investors gauge economic outlookEuropean markets are heading for a lower open on Monday as investors continue to assess inflationary pressures and the trajectory of interest rates.
Read more »