Brexit limps towards a conclusion
THE UK appears to have negotiated a deal with the EU to settle the terms of leaving the union from the end of March 2019. The Prime Minister is taking the credit for this achievement, rather than the official negotiating team. Indeed, the original chief negotiator, David Davis, resigned several months ago in protest at interference from Theresa May and her private advisers which resulted in the "Chequers" plan. His replacement, Dominic Raab, resigned a few days ago in protest at the current deal, negotiated by the same advisers behind his back.
You may be forgiven for reflecting that this is no way to run a railway, let alone take the most important decision for UK democracy in a hundred years.
In theory, the UK should be able to operate as an independent nation after Brexit and conduct political and trading relations with any country in the world on its own terms. This is a most welcome scenario and what the British people voted for in 2016. They voted to be able to deal on their own terms with all other countries and to take back control of their own borders with respect to trade and immigration. On their behalf, the government agreed to pay £39 billion (S$69 billion) for these privileges.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Saudi Arabia hikes oil selling prices for all grades to Asia
Slowing global economy to mean smaller revenue bump in Australian budget
The crown jewel of China-Singapore relations: Suzhou Industrial Park celebrates 30 years
Emerging-market optimism dashed by Fed as currencies, bonds sink
France’s Macron set to press China’s Xi on trade, Ukraine
Israeli Cabinet votes to shut down Al Jazeera’s local operations