This share prices have a 15 minute delay and are shown in the local time of the market in which the quote is displayed.
The future of international trade in the UK after Brexit
Santander UK organized a webinar to look at the challenges and uncertainty UK businesses are facing as the Brexit process nears its conclusion. John Carroll, Head of International and Transactional Banking at Santander UK, chaired the session in which two experts as Lord Bridges of Headley, former Brexit Minister and Peter Foster, Public Policy Editor at Financial Times shared their insights.
The webinar explored the nature and likelihood of any Brexit deal, its impact on different sectors and government preparedness to support SMEs.
During the event, Lord Bridges pointed out that impact of the coronavirus pandemic might reduce the chances of no-deal, given its potential to exacerbate the economic difficulties facing the UK.
On his part, Peter Foster said that that whatever kind of agreement ends up being struck between the UK and EU, it’s inevitable that large numbers of businesses, especially SMEs are going to be negatively affected, at least to some degree, by restrictions on trade with Europe.
According to John Carroll, “what becomes clear is that change is definitely coming and businesses will need end-to-end and sectoral support across all of Europe”.
Therefore, beyond the immediate impact of coronavirus, UK firms will soon have to contend with a number of changes that emerge when the current Brexit transition period ends on 31 December 2020. For instance, from the start of 2021 UK-based exporters and importers, as well as the thousands of businesses in their supply chains, could face new bureaucracy and possible delays in supply chains.
Filter results
According to Kristalina Georgeva IMF Managing Director, lifting growth requires three things: one, regulatory housecleaning to unleash private enterprise; two, deeper regional integration; and three, preparedness to harness AI.
According to The European House – Ambrosetti, the European Union has an opportunity to boost competitiveness and growth by simplifying regulatory and supervisory frameworks, particularly in the areas of sustainability and the financial sector.
According to Ramón Casilda Béjar, Spain, in today’s complex geopolitical landscape, has the opportunity to strengthen its role as a bridge and connecting country between Ibero-America and the European Union, revitalizing investment flows in both directions.
According to @ECB, in moments of acute stress, the public often turns to physical currency as a reliable store of value and a resilient means of payment, underscoring the crucial role it plays above and beyond everyday transactional convenience
According to Juan S. Mora-Sanguinetti, in Spain a 10% increase in regulatory volume leads to a 0.5% drop in employment in companies with fewer than 10 employees.
According to Hélène Rey “In a world where stablecoins, particularly those pegged to the dollar, become an important global payment tool, we must brace ourselves for substantial consequences”.
@judith_arnal proposes reforms for the EU to advance regulatory simplification, starting with consensus on its meaning, with competitiveness as a pillar, plus coordination mechanisms and a governance rethink.
According to @iee_org, Spain has one of the most demanding tax environments for businesses within the European and international context, which may have significant implications for competitiveness, foreign investment attraction, and business expansion.
According to Christine Lagarde for the euro to gain in status, Europe must take decisive steps by completing the single market, reducing regulatory burdens and building a robust capital markets union.
According to the Bank of Spain, in a context of strong growth in transactions and prices, the conditions under which new mortgage loans are granted currently show no signs of easing in lending standards.
McKinsey notes that European private capital is half the size of the U.S. and must play a key role in boosting competitiveness, by driving innovation, scaling firms, and mobilizing the investment needed to close the gap with other regions.
IMF states that global financial stability risks have grown significantly, driven by tighter financial conditions and heightened trade and geopolitical uncertainty.