Analysis and look ahead As we approach the end of the year, INFO looks at the latest news on Brexit and its impact on the Franco-British community here is now no doubt left that Brexit will impact all of us.
T
have noted that many of our consulting firm members and
Uncertainty reigns over how Brexit will be implemented;
others have set up their own in-house teams to try and cut
who will be allowed to live and work in the UK; whether investing
through the uncertainty: Heads of Brexit have been appointed,
in long-term projects in the UK is wise; and what the trading
Brexit Taskforces have been set up, and Brexit Hubs (including
relationship with the EU will look like, post-Brexit. Paired with
our own, on the French Chamber website) have been created.
rising inflation and slower growth, some businesses have even had to adjust their prices, which then has an impact on sales.
The general advice for companies today is to plan for the worst and hope for the best. This means imagining an outcome
The recent High Court ruling, which blocks Theresa May
where UK-based companies must trade with the EU using
from triggering Article 50 without the Parliament’s consent,
World Trade Organisation rules (and, of course, the associated
makes the outlook even more uncertain, Carolyn Fairbairn, the
tariffs). Only time will tell how Brexit is negotiated, but in the
Director General of the CBI, has warned.
meantime, preparing for tougher times is your best strategy.
At the Chamber too, since the EU Referendum result, we
We will stay by your side throughout the journey. I JH
Key dates Autumn Statement
Monetary Policy Committee
European Council meeting
London, 23 November
Announcement
Brussels, 15-16 December
Chancellor Philip Hammond will use
London, 15 December
When asked about his meeting with
this high-profile speech to set out his
How much impact has Brexit had on the
Prime Minister Theresa May in October,
forecasts for the year ahead. Expect to
UK’s finances? The Bank of England’s
Commission
hear clear messages about Britain being
Monetary Policy Committee will release
Juncker just responded with, ‘Pfffff...’
open for business... but the devil will be
its minutes in December, outlining how
Will the UK Government manage to
in the detail of his statement, including
the economics look, and how they plan
make more headway during the last EU
what he has to say about Brexit.
to ease the pressure.
meeting of 2016?
President
Jean-Claude
In my opinion, the only real alternative to a “hard Brexit” is “no Brexit”. Of course it is, and can only be, for the UK to assess the outcome of the negotiations and determine if Brexit is really in their interest [...] To put it simply, the ball is now in your court
The French community in the UK is worried because of the great uncertainty about its future; its members have invested a lot in this country. It is also worried, because in the aftermath of the referendum, some French nationals were subjected to negative or aggressive language
DONALD TUSK, President of the European Council, speaking to the European Policy Centre in October
HE MS SYLVIE BERMANN, French Ambassador to the UK, speaking to the House of Lords’ Select Committee on the European Union
16 - info - november / december 2016