In the News – The Galvin Round Up
Honda prepares to move abroad, the government and opposition split further over Brexit, and the UK reaches a new trade arrangement with Palestinian authorities – find out more with your international perspective on some recent headlines.
Honda to Close Its UK Plant
The Japanese car manufacturer Honda has announced that it will be closing its plant in Swindon. The closure could lead to the loss of around 3,500 jobs by 2021. While Honda have insisted that their decision was made as a result of the UK government’s failure to support the uptake of electric cars, other analysts have claimed that Brexit has played a major part in the decision.
The UK’s status as a hub for car manufacturing has already been placed under serious threat as a result of Brexit. 10% of the sector’s employees are from the EU, while leaving without a deal could lead to an increase of at least 10% to tariffs on the imports and exports the industry needs.
The Government and Oppositions Split Further Over Approach to Brexit
One of the crucial difficulties in arriving at a unified Brexit negotiating position has been the vastly differing opinions within both the government and the opposition regarding Britain’s withdrawal from the EU. These divisions, among other political disagreements, have now led several broadly Europhile MPs to break away from both the Conservative and Labour parties to form a new parliamentary grouping.
Although the newly formed group have not yet announced a policy position regarding Brexit, they are likely to put pressure on both the government and the oppositions to soften their stances and avoid a no-deal scenario.
The UK Signs a Trade Continuity Agreement with Palestinian Authority
Speaking in Ramallah, trade secretary Liam Fox has announced the signing of a trade continuity agreement between the UK and Palestinian Authorities. The agreement will ensure that Palestinian businesses and consumers will continue to benefit from trade after the UK leaves the European Union on 29th March. This arrangement, which will simplify trade to the same level as currently enjoyed by both parties and allows Palestinian business to have tariff free access to the UK market, is designed to be an easier, more efficient alternative to trading under World Trade Organisation rules.
The Galvin News Round-Up
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