My Nemesis. 
I’m talking about single market rules- they apply to goods. There is no single market for services.
I can’t make this any simpler for you.
Please simply google EU single market. The single market is (or in the case of the UK, was) for both goods and services. Do go check.
I worry that your conclusions have been based on such a basic misunderstanding. What other gems of ignorance are you walking around with?
Yes, “technically” there is (so the EU says) but the UK isn’t integrated with it and never has been, like many other member states.
Its an aspiration, like many other EU plans
Neither of these claims is correct. The free ability to perform services in other EU countries, without tariff or constraint, has been in place from the start of the single market - and has been conducted in very real ways billions of times. Prior to Brexit, the UK led in the export of services and not just financial services. The UK fully took advantage of the single market for services and it is (was for the UK) fully functioning reality not any sort of aspiration.
Again, your knowledge and information is badly lacking here. Before you dig yourself further into your display of how little you understand please, please go do some reading on this matter.
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There are no tariffs on services.
Stop making things up. The UK trades mostly in services with the EU and as a member of the single market we were the 2nd highest net contributor. The UK benefited least from the single market because there is no single market for services, it is for the free movement of goods - services are not integrated (in the case of the UK).
Trump Says He Will Make ‘Big Announcement’ on Nov. 15 in Florida.
The European Affairs Committee has today published a report on the UK-EU relationship in financial services.
The Committee’s key findings and conclusions are as follows:
- The Committee concludes that the overall outlook for the UK financial services sector post-Brexit is positive. Far fewer financial services jobs have moved from the UK to the EU as a result of Brexit than some anticipated; current estimates suggest 7,000 jobs have moved, compared to estimates of 75,000 in 2016. London has retained its position as the world’s second largest financial centre, and there was a strong sense that the sector has remained resilient.
- However, the Committee cautions the Government against complacency. It is not yet clear whether the impact of Brexit on the sector has fully played out. The Committee also calls on the Government to ensure that its approach to financial services delivers for the whole of the country and its economy, not only for the City of London.
- In terms of the Government’s plans to give more powers to the financial services regulators, the Committee notes the greater flexibility and agility this may bring. However, it stresses that new powers for the regulators must be accompanied by appropriate mechanisms for scrutiny and accountability, including by Parliament.
- Post-Brexit regulatory divergence is inevitable as the result of developments in both the UK and the EU. The Committee sees opportunities in divergence, which will allow the UK to innovate and tailor its regulation to its own interests. However, it also urges the Government to weigh the benefits of divergence against the costs of implementing new rules. In addition, it is concerned that the EU’s increasing emphasis on ‘strategic autonomy’ could lead to barriers to cross-border trade in financial services.
- The UK has inevitably lost influence over the development of future EU financial services rules post-Brexit, but the Committee is concerned that the Government appears unwilling to utilise the influence it still has. This is part of a detectable theme that has emerged in other work carried out by the Committee: the Government seems reluctant to recognise the importance of the UK-EU relationship, seeming unwilling to fully engage with the EU institutions, or to acknowledge that developments in the EU still have significance for the UK.
- The Committee found that the absence of EU equivalence decisions for the UK reflects a political, rather than technical, approach on the part of the EU, and it appears that the UK is being held to a higher standard than other countries in this regard. The Committee concludes, however, that the absence of EU equivalence decisions has had less adverse impact than initially feared and that it would, therefore, be unwise for the Government to base its strategy for financial services on a process that it cannot control, and which currently seems unlikely to bear fruit.
- The Committee found that the Memorandum of Understanding (MoU) on regulatory cooperation is being held up because of wider difficulties in the UK-EU relationship. The Committee believes that this MoU would provide a valuable mechanism for strategic dialogue and considers that its earliest possible entry into force should be a priority for the Government. It also calls on the Government to step up its political and diplomatic engagement with the EU regarding financial services.
Yep … fingers crossed he runs in 2024 because tonight the democrats are going to crater.
Again, you are factually wrong on just about each line here.
The UK does trade significantly with the EU on services - but trades (imports and exports) more on goods. The single market covered services as well as goods (as well as people and capital) - just read the EU directive. It is super simple. The UK has a net deficit of trade because we buy more from the EU than we export - with or without being in the single market. You may have noticed that since we left the single market we still import more than we export. You desperately want to blame the single market for this trade imbalance but nothing has changed since we left - so it is not the fault of the single market or the EU.
I’m done with pointing out factual errors in your knowledge. But I will know for sure that your posts are based on ignorance and an unwillingness to address that ignorance (I think there is a name for this condition). I will also note that you rely on personal opinion with zero references to validate that opinion (which it appears is often woefully in error).
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Anyone for a game of ping pong?
So, only now you start reading the EU directives ?
FFS I’ve explained this to you about 4 times now.
The UK benefits least out of the 28 (when we were members) from the single market - the EU actually acknowledged this as well when we were members. I’m not blaming the single market for our import / export imbalance either - your making that up as well, as I said our manufacturing was destroyed by the EU through many things, such as the incentives to move UK manufacturing overseas through EU grants - again this is nothing to do with single market rules.
We trade overwhelmingly with services as a consequence - tariffs do not apply to services, only to goods so your wrong there as well.
The trade imbalance and the single market rules are two different things
- We trade overwhelmingly in services which the single market does not benefit the UK for
- The UK manufacturing has been shafted over the past 40/50 years or so through EU grants moving UK manufacturing into other EU countries, destroying out fishing industry and farming because of the CFP and CAP etc.
So you can big yourself up all you like, it changes nothing, I’m right and you’ve got no clue what you are talking about. UK exports in the single market accounted for less than 1% of UK GDP in 2019. The UK imports so much from the EU (or did) because OF the single market that acts as a massive non-tarrif trade barrier to imports from elsewhere in the world. Thankfully we are out of it and have signed up so many trade deals with other countries.
Since we left the single market, our exports have increased into the EU. Another fact.
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Apart from the tedious off topic bickering there don’t seem to be any Brexit benefits shown so far apart from a sense of relief that the country has exited (and that’s OK) but, as someone else stated before, you would think that after 6 years there would be some benefits to be cited other than, “things in Europe are just as bad”.
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This one will take some derailing.
No, I’ve banged my head against this wall sufficiently.
I will end my contribution on this exchange by noting that I now better understand why some people voted Brexit and why they continue to believe its a good thing.
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The deal has been done, it is now important to make the most of the situation, surely.
You’ve got no idea.
You thing tariffs apply to services and imports are a benefit of the single market. Absolute shocker mate !
Tear up the TCA and the Northern Ireland Protocol. Then we can make. proper Brexit.
There is no “most” to be made of Brexit and trying to do so only enables further disaster. It’s now important to get it reversed while not letting those responsible wriggle out of the blame
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