scholarly journals The UK Economy

2018 ◽  
Vol 246 ◽  
pp. F2-F2
Keyword(s):  
Financial Markets ◽  
List Type ◽  
Medium Term ◽  
The Future ◽  
The Government ◽  
The Uk ◽  
Term Objective ◽  
The Eu

The future relationship between the UK and the EU remains unclear. Despite that uncertainty the economy has gained momentum over the last few months, fiscal outturns have been better and financial markets appear to be sanguine about the uncertainty. It is against this backdrop that the Chancellor will have announced the Budget on 29 October, after this Review went to press.Our main forecast is conditional on a ‘soft’ Brexit, but we also describe the consequences of an orderly no-deal Brexit. Under our soft Brexit scenario, the Chancellor will have the necessary space under the fiscal mandate to borrow on average an additional £16 billion per year between 2019–20 and 2022–23 compared with the OBR spring forecast. This, together with better revenues, provides room for the Chancellor to spend an average of around £30 billion more over the same period. Under the no-deal Brexit scenario, borrowing would be an average of £14 billion higher than in the soft Brexit case.Even though the government complies with the fiscal mandate under the soft Brexit scenario, it is unlikely to meet its medium-term objective to balance the budget unless it chooses to tax more.

Future Trade Relations between Canada and the United Kingdom

2020 ◽  
Author(s):  
C M Armand de Mestral
Keyword(s):  
Trade Agreement ◽  
Trade Relations ◽  
The United Kingdom ◽  
The Future ◽  
Close Relationship ◽  
The Government ◽  
Government Of Canada ◽  
The Uk ◽  
Relationship Of ◽  
The Eu

Abstract Canada’s trade relations with the UK have been governed by the CETA since the signature of that agreement with the EU in October 2016. Subsequent to the decision of the UK electorate to leave the EU, it became necessary to envisage the creation of a new trade agreement directly between the UK and Canada. Initially, the Government of Canada indicated a willingness to negotiate a new trade agreement with the UK as quickly as possible. But, as the future relationship of the UK to the EU became increasingly uncertain, the Government of Canada decided to hold back until greater clarity could be obtained. As of July 2020, Canada was still waiting. The future trade agreement will reflect the desire of both countries to maintain their long-standing and close relationship. Both have strong interests in trade and investment with the other and both will seek to reinforce these interests. The particular concerns of both countries are outlined in this paper and the outlines of a future trade agreement are set out. In conclusion, the author suggests that it would be in the interests of the UK, rather than seeking simply a bilateral agreement, to seek to negotiate an Atlantic Free Trade Agreement, thereby clarifying its relations not simply with Canada but with all of Europe and North America.

scholarly journals The UK Economy: Forecast Summary

2018 ◽  
Vol 245 ◽  
pp. F2-F2
Keyword(s):  
Rate Increase ◽  
White Paper ◽  
Current Level ◽  
Gdp Growth ◽  
List Type ◽  
The Government ◽  
The Uk ◽  
New Framework ◽  
The Eu

The UK economy is facing an unusual level of uncertainty because of Brexit. This uncertainty primarily stems from the yet to be defined relationship between the UK and the EU but also from the economy's response to the new framework once it emerges. The UK government's White Paper, which set out its preferences for that new relationship, has failed to unite the government or Parliament, leaving open an entire spectrum of possible outcomes.Our central forecast under a ‘soft Brexit’ scenario is that the economy will grow at a pace that is consistent with its potential. This translates to annual GDP growth of 1.4 per cent this year and 1.7 per cent next year, which is broadly unchanged from our previous forecast. The risks to our GDP growth forecast are wider than before and tilted to the downside.As before, we condition our forecast on a gentle path of monetary policy normalisation with the next 25 basis point rate increase this month. On the fiscal side, we recommend that the government maintains its current level of spending (as a share of GDP) and raises the quality of public services.

scholarly journals The future of social care funding: who pays?

2016 ◽  
Vol 22 (1) ◽  
pp. 10-44 ◽  
Author(s):  
T. Kenny ◽  
J. Barnfield ◽  
L. Daly ◽  
A. Dunn ◽  
D. Passey ◽  
...  
Keyword(s):  
Phase 1 ◽  
List Type ◽  
Political Debate ◽  
Term Care ◽  
Means Testing ◽  
Financial Products ◽  
Funding System ◽  
The Government ◽  
The Uk ◽  
Care Costs

AbstractWith the UK population ageing, deciding upon a satisfactory and sustainable system for the funding of people’s long-term care (LTC) needs has long been a topic of political debate. Phase 1 of the Care Act 2014 (“the Act”) brought in some of the reforms recommended by the Dilnot Commission in 2011. However, the Government announced during 2015 that Phase 2 of “the Act” such as the introduction of a £72,000 cap on Local Authority care costs and a change in the means testing thresholds1 would be deferred until 2020. In addition to this delay, the “freedom and choice” agenda for pensions has come into force. It is therefore timely that the potential market responses to help people pay for their care within the new pensions environment should be considered. In this paper, we analyse whether the proposed reforms meet the policy intention of protecting people from catastrophic care costs, whilst facilitating individual understanding of their potential care funding requirements. In particular, we review a number of financial products and ascertain the extent to which such products might help individuals to fund the LTC costs for which they would be responsible for meeting. We also produce case studies to demonstrate the complexities of the care funding system. Finally, we review the potential impact on incentives for individuals to save for care costs under the proposed new means testing thresholds and compare these with the current thresholds. We conclude that:∙Although it is still too early to understand exactly how individuals will respond to the pensions freedom and choice agenda, there are a number of financial products that might complement the new flexibilities and help people make provision for care costs.∙The new care funding system is complex making it difficult for people to understand their potential care costs.∙The current means testing system causes a disincentive to save. The new means testing thresholds provide a greater level of reward for savers than the existing thresholds and therefore may increase the level of saving for care; however, the new thresholds could still act as a barrier since disincentives still exist.

scholarly journals Extradition Between the UK and Ireland After Brexit—Understanding the Past and Present to Prepare for the Future

2020 ◽  
pp. 002201832097753
Author(s):  
Gemma Davies ◽  
Paul Arnell
Keyword(s):  
Transition Period ◽  
Alternative Methods ◽  
Good Friday ◽  
The United Kingdom ◽  
Good Friday Agreement ◽  
The Future ◽  
Close Relationship ◽  
The Republic ◽  
The Uk ◽  
The Eu

The Republic of Ireland and the United Kingdom have a long, close and difficult history. The most recent phase of which dates from 1998 and the conclusion of the Good Friday Agreement. Since 1921, however, there has been unique practice between Ireland and the UK as regards the transfer of accused and convicted persons from one to the other. Indeed, there has been a special and close relationship between the two in that regard; albeit one not without difficulties. In recent times EU Justice and Home Affairs measures and the Good Friday Agreement have supplemented and strengthened the relationship. These include, since January 2004, the European Arrest Warrant (EAW). The EAW has been particularly important in streamlining the extradition process between the Ireland and the UK. This phase of history and co-operation is coming to an end. The UK’s membership of the EU has now ceased, and a transition period during which the UK remains part of the EAW will end on 31st December 2020. The extradition relationship between the two is therefore facing a considerable challenge. There are several options open to Ireland, the UK and the EU as a replacement. Time, political will and the interests of third states, however, may well stand in the way of the conclusion of an agreement that optimally serves the interests of all parties and criminal justice. This paper considers the origins of extradition between the UK and Ireland and the alternative methods of extradition open to the UK and Ireland after Brexit. Consideration is given to the likely operation of a Norway-Iceland style agreement and whether such an agreement will be in place by the end of the transition and, if it was, whether its terms are likely to be sufficient for the needs of Ireland and the UK. The possibility of a bilateral arrangement on extradition between Ireland and the UK is also explored. Underlying the discussion is the critical point that the future extradition relationship must retain its ‘special’ characteristics, and therefore maintain the trust and good will that has developed over the years and given rise to an effective extradition relationship between the two countries. In other words, the lessons of history must be remembered.

The UK's Withdrawal from the EU

2021 ◽  
Author(s):  
Michael Dougan
Keyword(s):  
European Union ◽  
Northern Ireland ◽  
Critical Analysis ◽  
Legal Perspective ◽  
The Future ◽  
Article 50 ◽  
The Uk ◽  
The Eu

Following a national referendum on 23 June 2016, the UK announced its intention to end its decades-long membership of the EU. That decision initiated a process of complex negotiations, governed by Article 50 of the Treaty on European Union, with a view to making the arrangements required for an ‘orderly Brexit’. This book explores the UK’s departure from the EU from a legal perspective. As well as analysing the various constitutional principles relevant to ‘EU withdrawal law’, and detailing the main issues and problems arising during the Brexit process itself, the book provides a critical analysis of the final EU–UK Withdrawal Agreement—including dedicated chapters on the future protection of citizens’ rights, the border between Ireland and Northern Ireland, and the prospects for future EU–UK relations in fields such as trade and security.

The EU during Brexit

2020 ◽  
pp. 9-34
Author(s):  
Federico Fabbrini
Keyword(s):  
European Union ◽  
The European Union ◽  
Military Cooperation ◽  
Member States ◽  
Decision To Leave ◽  
Policy Initiatives ◽  
Eu Membership ◽  
The Future ◽  
The Uk ◽  
The Eu

This chapter analyses the European Union during Brexit, explaining how the EU institutions and Member States reacted to the UK’s decision to leave the EU. It outlines how they went about this in the course of the withdrawal negotiations. The EU institutions and Member States managed to adopt a very united stance vis-à-vis a withdrawing state, establishing effective institutional mechanisms and succeeding in imposing their strategic preferences in the negotiations with the UK. Nevertheless, the EU was also absorbed during Brexit by internal preparations to face both the scenario of a ‘hard Brexit’—the UK leaving the EU with no deal—and of a ‘no Brexit’—with the UK subsequently delaying exit and extending its EU membership. Finally, during Brexit the EU increasingly started working as a union of 27 Member States—the EU27—which in this format opened a debate on the future of Europe and developed new policy initiatives, especially in the field of defence and military cooperation.

10. EU Legislation

2018 ◽  
Author(s):  
Ed Beale ◽  
Libby Kurien ◽  
Eve Samson
Keyword(s):  
Direct Access ◽  
Legislative Process ◽  
House Of Commons ◽  
National Parliaments ◽  
Eu Legislation ◽  
House Of Lords ◽  
The Government ◽  
The Uk ◽  
The Eu

This chapter examines the ways in which the UK Parliament formally constrains the government and engages with European Union (EU) institutions. The House of Lords and the House of Commons both have processes to ensure that legislation proposed at the EU level has been properly reviewed before it takes effect in UK law. The ‘scrutiny reserve’, which stipulates that ministers should not agree to proposals under scrutiny, is used to elicit information about the government's negotiating position. Parliament also has a role in examining EU legislation and providing direct access to European institutions. The chapter first provides an overview of the EU legislative process, focusing on three principal EU institutions: member states, the European Parliament (EP), and the European Commission. It also considers the formal role of national parliaments in the EU legislative process, the UK Parliament's scrutiny of the EU legislation and its effectiveness, and parliamentary scrutiny after Brexit.

scholarly journals Surgical training in the UK

2007 ◽  
Vol 89 (1) ◽  
pp. 12-14
Author(s):  
L Williams
Keyword(s):  
Surgical Training ◽  
High Standard ◽  
Training System ◽  
The Future ◽  
The Uk ◽  
Very High ◽  
The Eu

The surgical training system in the UK has long been considered to be of a very high standard. However, it is currently under threat from many changes. To assure the quality of the future surgical consultant workforce we have moved away from apprentice-type training towards more ordered education. Although the reduction in hours and years will mean less overall experience there is a genuine belief that improved education and assessment can compensate. It says much for our island mentality that although we belong to the EU we consider European surgical training to be distinct from our own.

scholarly journals Mapping post-Brexit environmental law

ERA Forum ◽  
2020 ◽  
Vol 21 (4) ◽  
pp. 655-665
Author(s):  
Colin T. Reid
Keyword(s):  
Environmental Governance ◽  
Environmental Law ◽  
Legal Recognition ◽  
The Future ◽  
Policy Objectives ◽  
The Uk ◽  
The Eu ◽  
Future Position ◽  
The Way

AbstractThe UK’s withdrawal from the EU will not bring about immediate changes to the substance of environmental law in the UK, but that law will become easier to change. The future position is complicated by devolution within the UK, where differing policy objectives on continuing alignment with the EU and weaknesses in the inter-governmental structures are causing problems. Environmental principles are being given legal recognition and new structures for environmental governance being created for each nation. These include environmental watchdogs that go some of the way to making up for the loss of the oversight provided by the EU institutions.

scholarly journals Reflections on English Law Schemes of Arrangement in Distress and Proposals for Reform

2018 ◽  
Vol 15 (3) ◽  
pp. 472-502 ◽  
Author(s):  
Sarah Paterson
Keyword(s):  
Financial Crisis ◽  
European Commission ◽  
Debt Restructuring ◽  
Reform Agenda ◽  
Crucial Question ◽  
The Future ◽  
Corporate Insolvency ◽  
The Government ◽  
The Uk

The English scheme of arrangement process has, in many ways, proved a reliable friend to distressed companies and their majority finance creditors in the decade following the financial crisis. However, experience of using the scheme process to achieve a debt restructuring has highlighted a number of areas where it could be improved for the present, or to make it more adaptable in the future. This article was written at a time when the Insolvency Service had launched a review of the corporate insolvency framework in the UK (and published many of the responses which it has received to the consultation), and the European Commission had published a proposal for a new Directive setting minimum harmonisation standards for restructuring law. Both the consultation and the proposal have significant implications for the reform agenda, and the Government has published its response to the UK consultation just as this article is going to press. This paper focuses on the introduction of a preliminary moratorium as a gateway to restructuring efforts, the crucial question of how to value the enterprise if a cram down mechanism is introduced and the role of the insolvency practitioner in the scheme context.

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