STORY LINK Continued Concerns about Brexit Progress Cause Pound US Dollar Losses
‘[“Regulatory alignment” is] simply EU-speak for keeping Northern Ireland inside the customs union [and inside the single market].
We have made it quite clear, and [Theresa May] has made it quite clear, we will all be leaving the EU together, and that includes Northern Ireland.
This has had huge implications for her whole negotiating stance.
If she gives in on special demands for Northern Ireland, then she will be giving in to special demands for Scotland and other parts of the United Kingdom. It’s a unionist nightmare’.
‘We will not accept any form of regulatory divergence which separates Northern Ireland economically or politically from the rest of the United Kingdom’.
‘[PM Theresa May] made a very plain case for the sorts of divergence that we would see after we left.
She made the case that there are areas where we want the same outcome, but by different regulatory methods.
We want to maintain safety, we want to maintain food standards, we want to maintain animal welfare, we want to maintain employment rights.
We don’t have to do that by exactly the same mechanism as everybody else. That’s what regulatory alignment means’.
‘The slowest growth of service sector business activity since June, alongside a slight dip in the pace of manufacturing expansion, means the November PMI surveys registered a modest cooling in the overall rate of business growth.
Mid-way through the fourth quarter, the surveys are still pointing to a reasonable GDP growth rate of approximately 2.5%.
The surveys’ employment indices are meanwhile pointing to solid non-farm payroll growth of circa 200,000 as companies continue to take on staff in encouraging numbers to meet rising order books.
Disappointingly, optimism about the year ahead deteriorated as companies grew increasingly cautious about the outlook for 2018, suggesting risk aversion may start to rise, which could hit hiring and investment.
However, for now, businesses generally remain in expansion mode and the upturn shows few signs of losing momentum to any significant extent’.
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TAGS: Pound Dollar Forecasts
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