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According to the CBI, 40% of businesses had reduced their investment plans because of Brexit. The exit at 2019 is coming towards us a lot faster that politicians will be able to negotiate the trade deal to transition to. The CBI want us to have continued access to the EU during a transition period until the actual trade deal the the EU is negotiated.
Michael Barnier, the EU chief negotiator commented today:
- " I have heard some people in the UK argue that one can leave the single market and keep all of its benefits – that is not possible.
- I have heard some people in the UK argue that one can leave the single market and build a customs union to achieve "frictionless trade" – that is not possible.
- The decision to leave the EU has consequences. And we have to explain to citizens, businesses and civil society on both sides of the Channel what these consequences mean for them.
- Let me be clear: these consequences are the direct result of the choices made by the UK, not by the EU. There is no punishment for Brexit. And of course no spirit of revenge.
- But Brexit has a cost, also for business in the EU27.
- And business should assess, with lucidity, the negative consequences of the UK's choice on trade and investment. And prepare to manage them.
An uncomfortable message not widely broadcast in the UK today.
In addition, the EU finally signed a trade deal with Japan, making the market more accessible. Something we are due to leave and then have to renegotiate as a UK Japan deal.
Suddenly noticed a small positive change in President Trump's entrances - during his state visits abroad. Where before he seemed to rush up or down steps ahead of Melania, during his most recent visits abroad they are both at the top of the stairs of Airforce 1 and come down together side by side.Neither Brexit or
Hamburg was resounding to major clashes between protesters and police as world leaders arrived for the G20 tomorrow. We'll see what political sparks are likely to fly tomorrow.
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