Money UK government made no analysis of Brexit's economic impact

09:06  07 december  2017
09:06  07 december  2017 Source:   MSN

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UK government assessments of the potential economic impact of Brexit on Scotland will not be made public, the Brexit secretary has confirmed. But the analysis will be shared with the Scottish government , David Davis told a committee of MPs.

This week the UK Treasury released a much-discussed Report on the economic impact of the UK leaving the EU. The Report analyses the consequences of three different post- Brexit scenarios Although the UK Government ’ s Impact Assessment finds that the benefits of most regulations

LONDON - The U.K. official shepherding Britain's departure from the European Union acknowledged Wednesday that the government has made no formal assessments of the economic impact of leaving the 28-nation bloc.

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LONDON – The U . K . official shepherding Britain’ s departure from the European Union acknowledged Wednesday that the government has made no formal assessments of the economic impact of leaving the 28-nation bloc. Brexit Secretary David Davis told a parliamentary committee Wednesday

LONDON (AP) — The U . K . official shepherding Britain' s departure from the European Union acknowledged Wednesday that the government has made no formal assessments of the economic impact of leaving the 28-nation bloc. Brexit Secretary David Davis told a parliamentary committee

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Brexit Secretary David Davis told a parliamentary committee Wednesday that the nation should be prepared for a profound shift in the way the economy operates on a scale similar to that of the 2008 financial crisis.

He says that since Britain must prepare for a "paradigm change," in the economy, any assessment in the automotive, aerospace financial services or other sectors would fail to be "informative."

The House of Commons' Brexit committee's chair, Hilary Benn, described the decision as "rather strange" given the momentous decisions at hand and since authorities wish to start renegotiating Britain's trade relations with the rest of Europe within weeks.

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Economy , March 2016; Oxford Economics , Assessing the Economic Implications of Brexit , March 2016, HM Government , HM Treasury analysis – – Source: Institute for Fiscal Studies (IFS), Brexit and the UK ’ s Public Finances, May 2016, NIESR, The Long-Term Economic Impact of Leaving the

LONDON (AP) — The U . K . official shepherding Britain' s departure from the European Union acknowledged Wednesday that the government has made no formal assessments of the economic impact of leaving the 28-nation bloc. Brexit Secretary David Davis told a parliamentary committee

"You have said there are no impact assessments," Benn said. "You were hoping that, at the October (European) Council, the door would be open to phase two of the negotiations, where the question would be asked 'What does the U.K. government want?'

"Are you actually telling us that the government hadn't at that point — and still hasn't — undertaken the assessment?" Benn asked.

Davis told the committee he didn't need a formal impact assessment.

"I'm not a fan of economic models because they have all proven wrong," Davis said. "When you have a paradigm change — as happened in 2008 with the financial crisis — all the models were wrong."

Britain and the EU on Monday came close to agreeing on key divorce terms, including how to maintain an open Irish border after the U.K. — including Northern Ireland — leaves the EU.

But the agreement was scuttled at the last minute when the Democratic Unionist Party, which props up Prime Minister Theresa May's minority government, warned it wouldn't support a deal it saw as undermining Northern Ireland's place in the United Kingdom.

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The impact that this would have on air travel is more clear-cut than the economic effects. The weaker pound has immediately made outbound trips for Potential models for UK -EU cooperation post- Brexit . The UK Government identified the three most likely options for future UK arrangements with the EU.

UK government to release its Brexit economic impact studies. to, any UK government analysis of Brexit ' s impact on the Welsh economy " and, if so, to "publish A Welsh Government spokesman said the UK government had not shared such reports but agreed they should be made public.

Foreign Secretary Boris Johnson said that a solution to the issue "can only be discovered in the context of discussions on the end state of the U.K.'s relations with the rest of the EU."

"We are going to take back control of our borders, of our laws and of U.K. cash contributions and that's the way forward, and we will come up with a solution," he added.

May was expected to hold talks with top EU officials later this week.

Britain and the EU have only days to clinch a deal on borders, Britain's financial settlement with its EU partners and the rights of citizens hit by Brexit before a Dec. 14-15 EU summit that will decide whether Brexit talks can move on to future relations and trade.

The lack of progress so far has raised concerns that Britain may not have a deal by the time it officially leaves on March 29, 2019, and heightened fears that May's government could collapse.

___

Cook reported from Brussels.

Quebec losing 7,000 residents to other provinces every year: analysis .
The number of people leaving Quebec for other provinces rose between 2011 and 2016 , when compared with the previous five-year period, according to an analysis of Statistics Canada census data conducted by the Association for Canadian Studies.“On average, we’re losing about 7,000 people per year from interprovincial migration over the last five years,” said Jack Jedwab, the president of the association. The analysis found that between 2011 and 2016, Quebec had a net loss of 36,955 residents, as 55,365 people moved here from other parts of the country while 92,320 people left for other provinces.

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