UK and Japan rush to secure post-Brexit trade deal (Financial Times)
- On Thursday, Britain and Japan will try to reach a post-Brexit free trade agreement. However, the UK has admitted that a deal might only boost British GDP by 0.07 per cent and would be a bigger prize for Japanese exporters.
- Liz Truss, UK trade secretary, and Toshimitsu Motegi, Japan’s foreign minister, will hold talks in London with the aim of wrapping up a trade deal that both sides have tried to rush through in a matter of months.
- Among the sticking points are Tokyo’s demands for cuts in tariffs on Japanese car exports, while the UK is holding out for better access for services, including new rules on data regulation, and for agriculture.
Lords urge government to protect UK creative industries in post-Brexit trade deal (City A.M.)
- A House of Lords committee has written to the culture secretary demanding clarification on how a post-Brexit trade deal will affect the UK’s “overlooked” creative industries, as Britain edges towards the Brexit transition period deadline.
- In a letter to Oliver Dowden, the House of Lords EU Services sub-committee urged the government to provide a comprehensive update on the government’s efforts to secure an agreement with the EU that supports the UK’s creative industries. It added that Britain’s creative sector is “often overlooked in the bigger picture of the UK-EU relationship”.
- The letter highlighted that the UK’s creative industries are growing at more than twice the rate of the British economy, generating upwards of £100bn each year. The sector, which employs more than 2m people in the UK, also produces more than £30bn in service exports each year, the letter noted.
- It urged the government to provide information on whether creative professionals will be able to travel freely around Europe after the UK officially leaves the bloc on 1 January 2021.
- Musicians have warned that Brexit will kill off EU tours, with 71 per cent of more than 600 artists surveyed by the Incorporated Society of Musicians saying bookings had already dried up.
- The cross-party group of peers also demanded clarity over whether the UK will still be eligible to benefit from EU creative funding schemes post-Brexit, and whether the government has plans to replace EU funding for film and broadcasting.