On 12th July 2018, the UK Government released a white paper setting out its most detailed negotiating position to date, including regulation. It is essential that negotiators get it right to deliver frictionless trade but more detail is needed, particularly on services.
It is essential that negotiators get it right on rules to deliver frictionless trade, and business fully supports the UK Government’s proposals for a free trade area for goods based on a common rule book which should deliver this. However, more detail is needed on services. Businesses are ready to engage to help policymakers understand what more is needed to ensure services trade operates smoothly after Brexit, for consumers and firms on both sides.
One of the toughest jobs in the months ahead for both the UK Government and EU Commission will be
agreeing the future of thousands of shared rules that have been built up over the last 40 years. For the UK’s
companies, this matters for a number of reasons:
- EU rules affect almost every aspect of business – from tax to HR
- EU rules underpin and enable easy, fair trade
- EU rules have played an important role in keeping consumers trusting in high quality
If policy makers get it wrong on the future of rules, the consequences will be far-reaching. Firms voice
concerns about court action, entire business models becoming illegal overnight, customer contracts in
confusion, and a sudden drop off in access to our closest market for some of our leading industries.
In response to this the CBI has produced The Brexit deal for regulation and shared this with Government stakholders. To read the full report, see below.