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102. Resilience or Relocation? Expectations and Reality in the City of London since the Brexit Referendum
- Author:
- Manolis Kalaitzake
- Publication Date:
- 11-2020
- Content Type:
- Working Paper
- Institution:
- Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo)
- Abstract:
- The fate of British finance following the Brexit referendum revolves around the “resilience or relocation” debate: will the City of London continue to thrive as the world’s leading financial centre, or will the bulk of its activity move to rival hubs after departure from EU trading arrangements? Despite extensive commentary, there remains no systematic analysis of this question since the Leave vote. This paper addresses that lacuna by evaluating the empirical evidence concerning jobs, investments, and share of key trading markets (between June 2016 and May 2020). Contrary to widely held expectations, the evidence suggests that the City has been remarkably resilient. Brexit has had no significant impact on jobs and London has consolidated its position as the chief location for financial FDI, FinTech funding, and attracting new firms. Most unexpectedly, the City has increased its dominance in major infrastructure markets such as (euro-denominated) clearing, derivatives, and foreign exchange – although it has lost out in the handling of European repurchase agreements. Based upon this evidence, the paper argues that the UK’s negotiating position is stronger than typically recognised, and outlines the competitive ramifications for both the UK and EU financial sector.
- Topic:
- European Union, Brexit, Resilience, Financial Services, and Relocation
- Political Geography:
- United Kingdom, Europe, and London
103. Advancing human rights in Asia through trade after Brexit
- Author:
- Katarina Schwarz, Todd Landman, and Katrina Peake
- Publication Date:
- 06-2019
- Content Type:
- Policy Brief
- Institution:
- Asia Research Institute, University of Nottingham
- Abstract:
- How can the UK best protect human rights in Asia, an area historically weak in protecting and promoting human rights, when it comes to securing new trade deals after exiting the European Union (EU)? This policy brief assesses potential pathways for the UK to protect human rights in Asia through trade after exiting the EU, accounting for the specific challenges of advancing human rights in the region. It draws on existing practice, with a focus on the EU, to make suggestions for future UK trade policy through both unilateral and bilateral arrangements.
- Topic:
- Human Rights, Bilateral Relations, European Union, Brexit, Trade, and Trade Policy
- Political Geography:
- United Kingdom and Asia
104. Prospects for a closer relationship with Indonesia after Brexit
- Author:
- Jacqueline Hicks
- Publication Date:
- 06-2019
- Content Type:
- Policy Brief
- Institution:
- Asia Research Institute, University of Nottingham
- Abstract:
- As the United Kingdom considers post-Brexit trade opportunities outside the European Union, this briefing looks at the potential for greater cooperation with Indonesia. It finds that there are some sectoral and trade and investment opportunities between the two countries. Developing a long-term strategy that signals commitment is key to participation in Indonesia’s promising growth trajectory. The UK can mitigate its reduced bargaining power outside the EU by providing targeted, practical trade facilitation measures in exchange for increased investment opportunities. Becoming an agile and dynamic economic partner in comparison with the EU’s bureaucratic approach chimes well with the small business background of Indonesia’s President Widodo.
- Topic:
- International Cooperation, European Union, Economic Growth, Trade, and Trade Policy
- Political Geography:
- Britain, United Kingdom, Indonesia, and Asia
105. Brexit: the manifestos uncovered
- Author:
- Anand Menon
- Publication Date:
- 12-2019
- Content Type:
- Special Report
- Institution:
- UK in a Changing Europe, King's College London
- Abstract:
- This is, according to several of the parties and at least one national broadcaster, a Brexit election. Assuming this is wholly – or even partially (as even Labour accept in their manifesto) – true, what the parties are saying about Brexit is therefore of crucial importance. This report represents our attempt to identify what they say, to compare the different pledges the parties make and to explain in straightforward terms what each of them is offering on Brexit. Our aim, simply stated, is to promote understanding so people can make up their own minds. Once again, we have been fortunate enough to be able to draw on the expertise of some of the country’s leading social scientists. Catherine Barnard, Matt Bevington, Charlotte Burns, Katy Hayward, Nicola McEwen, Jonathan Portes, Jill Rutter and Dan Wincott all contributed to this report. Alan Wager and John-Paul Salter edited the text. We hope you find what follows enlightening and informative. Election campaigns produce endless amounts of heat. We have attempted in what follows to shed at least a little light.
- Topic:
- Politics, Elections, European Union, Brexit, and Society
- Political Geography:
- Britain, United Kingdom, and Europe
106. The mechanics of a further referendum on Brexit revisited: questions for the new parliament
- Author:
- Alan Renwick, Meg Russell, Lisa James, and Jess Sargeant
- Publication Date:
- 12-2019
- Content Type:
- Special Report
- Institution:
- UK in a Changing Europe, King's College London
- Abstract:
- Academics from the UCL Constitution Unit examine objectively the options for a further referendum. The chapters in the report explain the following: How a further referendum might come about; The referendum process, and the minimum timetable; The form the question might take; The regulatory framework, and options for improving the quality of debate; The pros and cons of making a referendum legally binding; How and when a further referendum might occur.
- Topic:
- Politics, Elections, European Union, Brexit, Referendum, and Society
- Political Geography:
- United Kingdom and Europe
107. The economic impact of Boris Johnson’s Brexit proposals
- Author:
- Anand Menon
- Publication Date:
- 10-2019
- Content Type:
- Working Paper
- Institution:
- UK in a Changing Europe, King's College London
- Abstract:
- The Prime Minister has set out a means of escaping the Brexit stalemate, but his new Brexit proposals have, as yet, not managed to overcome the impasse. What, though, would the plan mean for the UK economy? That is the question we seek to answer in what follows. As ever, we have been lucky enough to be able to draw on the skills and expertise of some of the leading experts in the field. The bulk of the work was done by Hanwei Huang, Jonathan Portes and Thomas Sampson, with contributions from Matt Bevington and Jill Rutter. Hanwei and Thomas used the LSE’s Centre for Economic Performance trade model to carry out the modelling. We hope you find the report interesting and informative. Brexit is clearly about more than economics, but the economic impact of leaving the EU nevertheless merits careful scrutiny.
- Topic:
- Economics, Politics, European Union, Brexit, and Boris Johnson
- Political Geography:
- United Kingdom and Europe
108. Brexit and Renewables in Scotland
- Author:
- Nicola McEwen, Aileen McHarg, Fiona Munro, Paul Cairney, Karen Turner, and Antonios Katris
- Publication Date:
- 10-2019
- Content Type:
- Working Paper
- Institution:
- UK in a Changing Europe, King's College London
- Abstract:
- This briefing paper considers the extent to which renewables in Scotland are shaped by the policy responsibilities and decisions of multiple governments: the Scottish government, the UK government and the EU. The paper explores the significance of EU membership in shaping Scottish renewables and considers the likely effects of the UK’s exit from the EU. Despite limited constitutional power, promoting renewables has been a key priority for successive Scottish governments, central to both its environmental and economic policies. While the main policy drivers rest with the UK government, stakeholders in Scotland place importance on the EU regulatory framework, EU funding and finance, multinational cooperation and long-term strategic thinking in supporting the development of renewables in Scotland. The briefing identifies varying levels of concern among key stakeholders with regard to the impact that Brexit may have on renewables in Scotland. Many expect policy continuity, irrespective of the UK-EU relationship. Others are fearful of the uncertainty surrounding access to the EU internal market, access to project funding, access to labour and expertise, and added costs and delays in supply chains in an industry heavily reliant on kit from the EU. The biggest impact of Brexit to date has been the dominance of the issue on the political agenda, leaving little space for policy development in other areas, including energy. In addition to the regulatory, financial and trade challenges it may generate, Brexit has also reignited the debate on Scotland’s constitutional future, creating further uncertainties for the future of renewables.
- Topic:
- Government, European Union, Constitution, Brexit, and Renewable Energy
- Political Geography:
- United Kingdom, Europe, and Scotland
109. Brexit and public opinion 2019
- Author:
- Anand Menon
- Publication Date:
- 01-2019
- Content Type:
- Special Report
- Institution:
- UK in a Changing Europe, King's College London
- Abstract:
- It hardly needs saying that public attitudes towards Brexit and the numerous issues related to it have been central to our political debates since at least 2016. As politicians try to address popular concerns, the congruence, or otherwise, of their views with those of both the public at large and their own members will be crucial. This report looks at the new and continued divisions within the country that will have a disruptive impact on our politics going forward.
- Topic:
- Politics, Public Opinion, European Union, Brexit, and Society
- Political Geography:
- United Kingdom and Europe
110. The repatriation of competences in agriculture after Brexit
- Author:
- Michael Keating
- Publication Date:
- 02-2019
- Content Type:
- Special Report
- Institution:
- UK in a Changing Europe, King's College London
- Abstract:
- The future of agriculture policy across the United Kingdom after Brexit is uncertain and risky, according to a new paper by Professor Michael Keating of the Centre on Constitutional Change. Reforms of the EU’s Common Agricultural Policy over recent years have shifted the emphasis from farming to the broader concept of rural policy. As member states have gained more discretion in applying policy, the nations of the UK have also diverged, according to local conditions and preferences.
- Topic:
- Agriculture, European Union, Brexit, and Repatriation
- Political Geography:
- United Kingdom and Europe