The new regime under Theresa May has made known its
readiness to spend for the purpose of keeping the UK economy in a stable
condition as it sets out a blueprint for post-Brexit Britain.
Accordingly, Philip Hammond recommended that his treasury
will borrow in order to invest in British infrastructure, as against George
Osborne’s austerity era.
According to Mr. Hammond, the current government of Mrs. May
will “borrow and invest wisely” as a result of the economic shock caused by the
Brexit vote.
In a sign of his plans, David Davis, the new Secretary of
State for exiting the EU, suggested that Britain will demand full control of
its borders but will want to retain access to the European Union’s single
market.
· Britain
would start the process of leaving the European Union by the end of this year,
after consulting with administrations in Scotland, Wales and Northern Ireland
and other business groups and unions
· Britain to
leave the European Union finally by December 2018
· UK should
seek to strike a deal with the EU based on a “liberalised” existing trade
arrangement with Canada to eliminate all customs duties and not allow
uncontrolled immigration into the UK
· Britain
should seek new free trade agreements with “the biggest prospective markets as
fast as possible”
· The UK
should “accelerate” the agreement of the controversial Trans-Atlantic Trade and
Investment Partnership deal with the US
· Britain
should prioritise trade deals with the rest of the world focusing initially on
China, USA, Canada and Hong Kong then others like Australia, Brazil, India,
South Korea, Japan, Mexico and South Africa.
Based on Mr. Davis proposal, he believes that the economic
benefit of Brexit could be felt by the British people before the end of
December 2018
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