How is Brexit impacting UK retail?

Richard Lim, chief executive officer (CEO) at Retail Economics, joins IGTV's Victoria Scholar to discuss his new report which outlines the impact of Brexit on the UK retail sector.

#brexit #ukretail #marketnews

We provide fast and flexible access to over 16,000 financial markets – including indices, shares, forex and commodities – through our award-winning range of platforms and apps.

Established in 1974 as the world’s first financial spread betting firm, we’re now the world’s No.1 provider of CFDs and spread betting* and a global leader in forex. We also offer an execution-only share dealing service in the UK, Ireland, Germany, Austria and the Netherlands. Our range of affordable, fully managed investment portfolios rounds out our comprehensive offering to investors and active traders.

Through our low fees and smart price-sourcing technology, we help traders keep their costs down.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading spread bets and CFDs with this provider†. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit.

* Based on revenue excluding FX (published financial statements, February 2018).

† For the 12 months preceding 1 July 2019.

[sethandruby]

The first lock is the transition period, which lasts until at least 2021. We must
hand over an estimated £39 billion for nothing, be bound by EU law and take
orders from an unelected Joint Committee operating under the jurisdiction of the European Court of Justice. Will the EU27 agree an equitable free trade agreement before the end of 2020? Unlikely, since all the goodies they want in the “future partnership” are set out in the Northern Ireland backstop, which kicks in automatically on 1st January 2021 unless superseded by a
partnership” agreement. Full ratification by all Member States is required
before any such agreement can come into force. Achieving this in time to avoid
entering the backstop would be nothing short of miraculous, even if the EU
agrees to extend the transition period for one or two years. So it is more pay
with no say and a likely doubling of the Brexit bill to £80 billion, to be paid with
no reference to British MPs.Not only does the backstop carve out Northern Ireland a an EU province and set a border in the Irish Sea, it creates a partial “customs union" that requires us to implement EU trade tariffs and with no decision making powers.
Under highly restrictive “non-regression clauses”. the UK also agrees to
implement all EU emimnmental. competition, state aid and tax harmonisation laws, with the unelected Joint Committee and the ECJ once again able to punish us for any perceived backsliding. British farmers will be locked into a subsidy regime well below support received by EU27 farmers, who nevertheless
retain tariff-free access to the UK. British agriculture would be decimnted. It
means we could not support British businesses, give ourselves a competitive edge in new technologies where we excel. strike independent trade deals or diverge in key policy areas Such as good regulatory and tax Free EU access to UK fisheries to sit down as a marker for negotiation future “deal”
The Political Declaration replicates all the onerous “non-regression” clauses of
the backstop and requires even more surrender of sovereignty via participation in and funding of the EU’s aerospace and defence programmes, free access to UK waters for EU fishermen, a full customs union and common trade policy, free movement by the backdoor under “mobility” clauses, EU control of UK agriculture via the state aid rules and in general full adherence to the acquis communautaire in all policy areas.