We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.

CEO of trade law and economic policy consultancy company Competere, Shanker Singham, outlined how he believes the UK should proceed in the Brexit trade talks. While speaking to the EU Goods Sub-Committee, Mr Singham insisted the UK would benefit most if it focussed on forming business regulation that made it the most competitive. Due to the coronavirus economic impacts, Mr Singham claimed the UK would not benefit more from aligning its regulation to that of the European Union.

He explained the UK will be under pressure to have strong and fast economic growth post-coronavirus and must adopt this firm attitude in regarding the Brexit trade deal talks with the EU.

EU Goods Sub Committee member Baroness Sandip Verma asked: “With the coronavirus pandemic it has thrown a lot of new challenges into the Brexit trade deal negotiations.

“Do you think that will ease the UK towards even greater regulatory alignment than we would have perceived maybe a year ago?

“Or do you think the divergence issue will still remain and coronavirus will have a greater negative impact?”

DON’T MISS: Brexiteer Richard Tice demands EU back down NOW in fishing deal talks

Mr Singham insisted on the importance of Britain becoming an important global player in the coming years post-coronavirus.

He said: “The impact of coronavirus will increase the need for private-sector economic growth and wealth creation for the UK and for countries all over the world.

“I think the problem is obviously going to be that Governments are going to be very heavily indebted at the time that we come out of the pandemic.”

Mr Singham insisted during the Brexit trade talks the UK will look for a route that best allows the economy to recover and thrive regardless of coronavirus.

He added the UK will likely want to implement its own regulatory system rather than closely align itself with that of the EU’s.

He continued: “Anything that is going to generate economic activity is going to be at a premium.

“What that will do for the UK, is increase the need for it to have the ability to have its own regulatory system that’s pro-competitive.

Do you even WANT a deal? Irish EU trade chief savages UK over Brexit [INSIGHT]
Brexit humiliation: Banks warn Britain and EU over financial chaos [FORECAST]
Brexit victory: UK delivers devastating blow to Russia [INSIGHT]

“It will make that anti-competitive regulation bucket that I talked about much, much more important.

“It will make it more important for the UK to do everything in its power to ensure that its regulatory system is as pro-competitive as possible.”

Prime Minister Boris Johnson has vowed to make sure the economy recovers well from the coronavirus pandemic.

He has repeatedly said the UK intends to energise its talks with the European Union to ensure a beneficial Brexit trade deal can be achieved on time. 

Source: Read Full Article