Lloyds Banking Share Discussion Threads

[xxxxxy] 02/2/2020 08:00

John Redwood
@johnredwood

No more concessions to the EU. They need to make us a good offer to secure privileged access to our lucrative market. We did not leave in order to stay under their rules and demands.

[xxxxxy] 02/2/2020 07:59

Reply to President Macron

By JOHNREDWOOD | Published: FEBRUARY 1, 2020
Dear President Macron


Thank you for your letter addressed to the UK on the occasion of our departure from the EU. My country looks forward to welcoming you personally to the UK for your next visit, and wishes to have friendly relations with you as our neighbouring state as with the rest of the EU.

As an independent nation we support free trade, democracy and peace and will work to promote all three with our allies and friends. We regard the question of membership of the EU as something for the peoples and governments of each country to decide without external interference. We will work closely with fellow European countries whether non members like Norway and Switzerland or members like France and Germany on issues where we have a common interest or viewpoint.

I was disappointed to see that you have not understood why so many people in the UK voted to leave the EU in the first place and why so many voted in the two subsequent General elections for parties that wished to see Brexit through. You state that you need a “sovereign and democratic Europe whose strength will make our continent strong” . You may well think the EU needs to have a stronger central government which is more efficient and effective at doing things. Your task is to explain that vision of greater EU integration and power both to the EU itself where the Germans are sometimes more reluctant than you going forward, and to your own voters who do not all share that vision. I can assure you that the pro Brexit majority in the UK was fundamentally opposed to more EU political integration, and wanted powers back from the EU for the UK which the EU decided not to offer. As a bare minimum we wanted control over our taxes, benefits and borders, areas where UK governments had previously falsely assured us we would retain a veto.

It is not now for the UK to tell the EU what level of political or economic integration is appropriate because we are no longer members with vote and voice. We wish you all well in coming to a happy outcome. I note making a success of a single currency usually requires substantially more political, budgetary and economic integration than the EU has so far achieved. It usually needs what the Germans somewhat disparagingly call a “transfer union”. When I with others ran a successful campaign to persuade the UK not to join the Euro it was obvious the UK needed a different relationship with the EU, whilst the EU proceeded on the false assumption that it was only a matter of time before the UK gave in and joined the currency.

You state that UK access to the single market will depend on the “degree to which EU rules are accepted”. The UK is leaving so we can make our own laws. The government has made clear we seek a Free Trade Agreement if there is a mutually beneficial one that is better than trading with each other on best or favoured nation WTO terms. Japan and Canada have good FTAs with the EU that do not require accepting EU legislative supremacy. You should also remember that the EU seeks preferential access to the UK market, which it has enjoyed for many years. Our mutual trade account is dominated by EU exports, not by UK exports. We are happy to offer continued tariff free and relatively barrier free entry to the UK in return for similar access to the EU despite the big imbalance in trade in the EU’s favour.

Brexit voters voted to leave the single market and customs union and do not share your rosy view of these devices. Many think the EU sees the UK as a Treasure island, to take our money and to sell us many goods on terms denied the rest of the world. We do not think the single market was created by UK Ministers. As the UK’s single market Minister in the crucial period prior to the 1992 so called completion of the single market I remember fighting many battles at the time trying to make the single market less of an excuse for a power grab with a big build up in bureaucracy over business. Some of the large companies who now support EU rules in those days wanted me to argue against many of them or to water them down on the grounds that they made things dearer but not better and were hostile to innovation. .

I watched sadly our first ten years of membership of the EEC. As I predicted at the time, the shock of removing all tariffs on goods where Germany and to a lesser extent France and Italy had a comparative advantage over us, without removing barriers to a wide range of services where the UK had an advantage resulted in a big increase in our trade deficit with the EU which continued throughout our membership. More importantly it led to a halving of our car output, to a large reduction in our steel output, to the closure of many foundries and textile mills. No wonder I and many like me developed or confirmed a negative view of the EEC/EU. This was made far worse by the disaster of the European Exchange Rate Mechanism inflicted on us by the EU and the governing elite in the UK.

So please understand we want to be friends with the EU and with its individual member states. We are happy to trade freely with you even though it helps EU exporters more than our own. We see no need to sacrifice further or pay more for our future relationship. Your letter implies the EU has learned nothing and still does not understand why we left. We left to be an independent country. You cannot drag us back under EU control because it suits the EU.

You mention Winston Churchill.He did indeed want a more integrated Europe but never thought the UK would be part of it. He wrote his History of the English speaking peoples to set out his view that the UK needed closer ties with the USA and other Countries in his history.

With every good wish

John Redwood

[sr2day] 02/2/2020 05:11

If we are rejoicing about leaving EU and feel liberated why can,t Scotland be liberated from UK.. now that UK has left EU another referendum in Scotland would be justified because the goalposts have been moved.

[mitchy] 02/2/2020 00:09

Johnson's threatens to put duty on German cars, French and Spanish wines if no free trade deal by the end of 2020.Plus no access to UK fishing waters.Hell yeah....!

[mitchy] 02/2/2020 00:00

Housing market heats up with new mortgages highest for two years.

[maxk] 01/2/2020 23:58

Boris Johnson 'infuriated' as EU reneges on free trade deal

The Prime Minister believes Brussels has unilaterally been 'changing the terms' of the deal he agreed last year

By
Christopher Hope,
CHIEF POLITICAL CORRESPONDENT
1 February 2020 • 10:00pm






Boris Johnson has become "privately infuriated" with what he sees as the EU's attempts to frustrate a comprehensive free trade deal, the Sunday Telegraph can reveal.

The Prime Minister believes Brussels has unilaterally been "changing the terms" of the deal he agreed last year, when both sides set out to work towards an ambitious and deep trade agreement.

As a result the UK is no longer wedded to a Canada-style agreement, in what would be a major hardening in the Government's Brexit strategy.

Downing Street negotiators are now willing to pursue a much "looser" trade deal while simultaneously signing agreements with countries that make up 13 per cent of the world's GDP.

[k38] 01/2/2020 23:36

They (Brussels) can't rely on the BBC either...lol

[k38] 01/2/2020 23:34

Don't you worry too much CPFront of the camera they can say and claim whatever they want....they call it damage limitation...in reality they know what they lost and what means to them. They are desperate for a deal and a deal will be done by end of this year.They can't rely at remainers anymore!!

[pierre oreilly] 01/2/2020 23:33

Full time investor?

I thought you gave it all to Woodford to manage for you. I'm certain he was your hero.

No wonder you're in a constant mid-life crisis minny, sure full time investor (i.e. unemployed and unemployable) is the best 'job' for you? - staring at a screen all day, unmarried (goes without saying), painfully lonely, grudge against the whole world, posts anything and everything designed purely to get some response as at least that modicum of human contact is better than none.

[cheshire pete] 01/2/2020 22:15

Boris must focus on getting trade deals with US and RoW before trying to get a deal with EU. Be sure that the EU will maintain their current hardball stance as though nothing has changed and we haven't left the EU. Boris in a strong negotiating position and it is to be hoped that he will use it to full advantage, and walk away if EU drag feet.
Tusk gone, Juncker gone but Barnier still there. De Leyen sweet and smiley exterior bet she's ruthless though.

[xxxxxy] 01/2/2020 22:11

How to keep up to speed post BREXIThtTps://brexitcentral.com/2020/01/29/

[xxxxxy] 01/2/2020 22:07

But it is not complete. Work in progress. For Dec 2020.Brexit. Democracy. Freedom.Nos da. Cymru am byth.

[xxxxxy] 01/2/2020 22:04

Thank you and farewell from BrexitCentralhtTps://brexitcentral.com/thank-you-and-farewell-from-brexitcentral/

[minerve 2] 01/2/2020 21:26

What do you know about anything?

LOL

[gotnorolex] 01/2/2020 21:17

Min "My work is that of a full-time investor"
That's no more than stargazing, full-time trader will qualify as work.

[minerve 2] 01/2/2020 21:15

Open the door to the bedsit for goodness sake, and let some fresh air in.

[minerve 2] 01/2/2020 20:56

gotnorolex

"Mini if you were a winner, you'd be no fun! Bye the way, why after you made your millions, have you given up on work?"

Have you not been listening for the last decade?

My work is that of a full-time investor.

[gotnorolex] 01/2/2020 20:49

Mini if you were a winner, you'd be no fun! Bye the way, why after you made your millions, have you given up on work? Even Euro jackpot winners stay on at work to keep sane!