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

US FED rate rise.

  The US Federal Reserve officials have indicated that they plan to resume increasing interest rates to control inflation in the world's biggest economy. During the June meeting, the Federal Open Market Committee reached a consensus to keep interest rates stable for the time being to evaluate whether further tightening of policy would be necessary. However, the majority of the committee anticipates that additional rate increases will be required in the future. The minutes of the meeting have recently been made public. According to the minutes, most participants believed maintaining the federal funds rate at 5 to 5.25 per cent was appropriate or acceptable, despite some individuals wanting to raise the acceleration due to slow progress in cooling inflation. Although Fed forecasts predicted a mild recession starting later in the year, policymakers faced challenges in interpreting data that showed a tight job market and only slight improvements in inflation. Additionally, officials gr...

EU business slide.

  S&P Global’s flash eurozone composite purchasing managers’ index, a key gauge of business conditions for the manufacturing and services sector, fell 1 point to 47.1, figures showed yesterday. That is its lowest level since November 2020 and the fourth consecutive month below the crucial 50 mark separating growth from contraction. One of the few bright spots in the survey was that companies in all sectors reported a slight easing of cost pressures, price growth and supply chain constraints. However, prices charged for goods and services still rose at the sixth fastest rate since such data started in 2002. Jobs growth increased marginally from October but remained low compared with the past 18 months. Following a few months of falling price pressure in manufacturing and services, the October print shows an overall stabilisation said Jens Eisenschmidt, chief European economist at Morgan Stanley. However, German businesses, at the hub of Europe’s energy crisis, reported that manu...

Tariffs on UK electric cars.

  The European Commission has confirmed that it will continue with its plan to impose tariffs on electric cars exported between the UK and EU starting next year. This is due to the "rules of origin" requirement that mandates EVs traded across the English Channel to have 60% of their battery and 45% of their parts sourced from the EU or UK or face a 10% tariff. A senior Commission official, Richard Szostak, recently informed parliamentarians from the UK and EU that the bloc's battery investment has significantly declined, making the tariffs necessary to encourage domestic production. In 2022, the EU's share of global investment in battery production shrank from 41% to only 2% after the US offered substantial subsidies through its Inflation Reduction Act. Starting in 2024, car manufacturers in the UK will need to have 22% of their sales come from zero-emission vehicles, which means they may need to import EVs from the continent to meet this requirement. If EU carmakers ...