Brexit Bulletin: The Next Chapter

Days to Brexit: 9

(Bloomberg) --

What’s Happening? As Boris Johnson’s Brexit bill moves through its final stage in Parliament, key players in Davos are looking to the next chapter. 

Speaking at the World Economic Forum – an event the prime minister has stayed away from – Chancellor of the Exchequer Sajid Javid continued to press the message that the U.K. and European Union can negotiate a trade deal by the end of this year.

The two sides both “recognize that it’s a tight timetable, a lot needs to be put together in the time that we have, but it can be done,” Javid said, adding “and it can be done for both goods, where we want to see free trade, zero tariffs, zero quotas, but also on services.”

Speaking on the day that a report showed government departments increased spending more quickly last month than in any December since Tony Blair was prime minister, the chancellor signaled he was ready to invest more to help the U.K. economy grow in the years following Brexit. He also indicated work has started on a trade agreement with the U.S., which is a “huge priority” for the new government, a sentiment echoed on the same panel by U.S. Treasury Secretary Steven Mnuchin.

Still, it wasn’t all rosy. Mnuchin also dangled the prospect of retaliatory tariffs on automobile imports if countries go ahead with digital taxation plans – something to which Javid said the U.K. remains committed.

Beyond Brexit

• Elon Musk has taken drastic steps to silence these Tesla short sellers, writes Dana Hull.
• A trader who lost $2.3 billion in London and spent more than three years in jail is now seeking redemption by helping to finance housing in Ghana.
• Life is looking sweet for the Ferrero family — they’re about to get a $714 million dividend from their main holding company.

Brexit in Brief

Starting Salary | Business chiefs have backed rejecting a blanket £30,000 minimum salary threshold for immigrants arriving in Britain after Brexit.

Right to Rent | Private landlords have called on the government to issue physical cards to EU citizens to prove they have the right to be in the country post Brexit.

Free-market Future | A new Thatcherite spirit can turn Brexit Britain into a world-beating economy, writes John Longworth for the Telegraph. 

Worker Warning | Scotland will be in big trouble if EU migrants stop coming, according to the SNP. 

Career Opportunities | Nigel Farage say he is ‘open’ to appearing on reality show “I’m A Celebrity! Get Me Out Of Here” after Brexit.

Want to keep up with Brexit?

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To contact the editor responsible for this story: Caitlin Morrison at cmorrison59@bloomberg.net, Guy Collins

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