• Theresa May says calling a general election to break Brexit deadlock ‘would not be in the national interest’: Theresa May has denied she is preparing to hold another general election, stating that another vote would “not be in the national interest”. Some observers believe that the Budget announced by Philip Hammond on Monday resembled a pre-election budget, with accelerated income tax cuts and some other popular measures. Fresh elections could be tempting because the Prime Minister lacks a majority in the House of Commons, meaning there is a good chance any Brexit deal she negotiates could be voted down. (The Independent)

 

  • EU pledges access to UK clearing houses in no-deal Brexit: Brussels has responded to financial industry calls for continued access to London’s capital markets by providing reassurance that EU groups will temporarily be able to use crucial derivatives clearing services in the UK even after a no-deal Brexit. The commitment by Valdis Dombrovskis, European Commission vice-president, follows months of warnings by European bankers that EU companies otherwise face hefty rises in trading costs — or will be unable to hedge their market exposures. (FT)

 

  • Theresa May rules out holding another referendum despite mass Final Say protest: Theresa May has stood firm and ruled out giving the British people a final say on her Brexit deal, despite a groundswell of support for a second vote. Speaking during a summit in the Norwegian capital of Oslo the prime minister once again ruled out changing her mind, stating: “There will be no second referendum on Brexit.” (The Independent)

 

  • Baker McKenzie will be hosting a Brexit webinar on the VAT and customs implications of a hard Brexit, on Monday 5th November. Details of the webinar and a link to the broadcast can be found here: Webinar Details & Access.
Author

Jessica's practice focuses on international trade and anti-bribery work, encompassing customs, export control and sanctions matters. Jessica's trade work includes advising international clients on fast-moving and evolving EU and UN sanctions, notably in respect of Iran and Russia, and on compliance with UK and EU export controls. Her trade experience also includes advising on tariff classification and customs valuations. Jessica's anti-bribery experience includes assisting with investigations, and advising clients on compliance with anti-bribery laws. Jessica has also taken a lead role in monitoring Brexit-related developments; analysing how they will affect the UK's trading position generally, and clients' businesses specifically. She has helped clients begin to conduct risk assessments of how Brexit will impact their businesses, and has assisted them in developing tailored Brexit strategies. Jessica also presents at various seminars, webinars, and conferences on the complexities of Brexit. Jessica advises global clients on complex issues arising from international transactions and works with clients across a number of sectors including pharmaceuticals, defence, finance, aviation, energy, and telecommunications. Jessica has also worked previously in Paris, and is fluent in French.

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