Skip to main content

UK to scrap the EU laws.


A plan by ministers to review or repeal all EU laws on the UK statute book by the end of 2023 has been hit by a fresh setback after discovering 1,400 additional pieces of legislation. Rishi Sunak has started backing away from his ambitious proposals to scrub Britain’s statute book of unwanted EU laws by abandoning his promise to complete the exercise within 100 days. Now ministers, in conjunction with the National Archives, have discovered the enormous bureaucratic task has got even more significant and that instead of 2,400 EU laws to review or repeal, officials may have to trawl through 3,800. The new business secretary, Grant Shapps, is said by allies to be keen to slow down the review of EU laws after being warned that hundreds of extra staff across Whitehall would be needed to complete the task.

The business department declined to say whether it was still wedded to completing the task by the end of next year. Jacob Rees-Mogg, the former business secretary, had promoted a retained EU law bill as flagship legislation to maximise what he said were the «opportunities of Brexit». Rees-Mogg’s legislation aimed to complete the review of 2,400 pieces of retained EU law by the end of 2023. However, they have not yet been verified by the government.

«It doesn’t surprise me that more legislation has been found,» she added. Sunak’s spokeswoman declined to say whether it might be amended, adding the government was proceeding with the bill. The business department said it was committed to «taking full advantage of the benefits of Brexit». Reviewing EU laws was «an essential exercise in accelerating regulatory reform and reclaiming the UK statute book», it added.

www.sba.tax

Comments

  1. Reviewing so many laws will take years and shouldn't be done in a hurry. Mistakes will surely happen if they hurry this along. They should plan for reviewing 500-1000 laws yearly and see what's good and what's not for the UK. Anything more and they are just asking for trouble.

    ReplyDelete

Post a Comment

Cloud Bookkeeping

HS2 cost cuts new routes and add delays.

 Trans­port depart­ment offi­cials have begun work on «Project Sil­ver­light» sug­gest­ing the high­speed rail scheme might face four addi­tional years of delay. The planned High Speed 2 rail line faces fur­ther delays of up to four years and more cuts to the project under plans being drawn up by min­is­ters to rein in its bal­loon­ing costs. The extra delays to the coun­try’s biggest infra­struc­ture project would mean that it would not be com­pleted until as late as 2045 — 12 years after ori­gin­ally planned. «This is a func­tion of infla­tion; we are hav­ing to find huge sav­ings because the cost of everything the depart­ment is already doing will have become so much more expens­ive by then,» said one gov­ern­ment offi­cial. In Octo­ber, the FT repor­ted that the Treas­ury had asked HS2’s man­age­ment team to identify poten­tial cuts or «scope reduc­tions» to the high-speed line. Trans­port depart­ment offi­cials have sub­sequently begun work on Project Sil­ver­light aimed at fi...

Google has launched its Bard chat­bot.

  Google has launched its Bard chat­bot in a move to rival OpenAI’s pop­u­lar Chat­GPT, as it seeks to make up lost ground in the race to com­mer­cial­ise gen­er­at­ive arti­fi­cial intel­li­gence tech­no­logy. Google said that Bard, which provides answers to text­based ques­tions, will be run sep­ar­ately from its Google Search engine. In recent weeks, gen­er­at­ive AI has also been integ­rated into widely used pro­ductiv­ity applic­a­tions, such as Google’s Work­space includ­ing Google Docs and Gmail, and Microsoft’s Office 365 soft­ware, as well as into pop­u­lar apps such as Duolingo, allow­ing mil­lions of people to start inter­act­ing with the tech­no­logy. «We want to get feed­back and gradu­ally phase up the num­ber of people who have access to Bard, and the reason for that is we want to be able to test and learn from that before we roll it out very widely,» said Zoubin Ghahramani, vice-pres­id­ent of Google Research. Bard is built on top of Google’s AI tech­no­logy known a...

Doubt on CS's collateral.

  Credit Suisse provided an emergency $140mn loan to Greensill Capital based partly on invoices to companies that deny ever doing the business stated on the documents. The Swiss bank provided the loan in October 2020, less than five months before the collapse of Greensill, a supply chain finance firm that counted former British prime minister David Cameron as a senior adviser. Invoices issued by metals magnate Sanjeev Gupta’s Liberty Commodities and sold to Greensill formed part of the collateral for the loan, according to documents seen by the Financial Times and people familiar with the transaction. Yet several of the parties named on the invoices have told the FT they did no business with Liberty. GFG has consistently denied any wrongdoing. Credit Suisse’s loan had a clause dictating that the collateral value had to be equal to or greater than the $140mn borrowed. The terms of the debt agreement only allowed invoices on Green-sill’s balance sheet to count towards this tally if t...