Daily Archives: May 9, 2021

Sending items abroad

When sending goods abroad, customers will need to complete and attach a customs declaration (CN22 or CN23), available from the Post Office or Royal Mails Click&Drop. This does not apply to customers sending items from Northern Ireland to the EU. Letters, postcards and documents are usually exempt.

The recipient may then have to pay customs or VAT charges and a handling fee in the receiving country before they can claim the parcel. These charges will depend on the country they are sending to, the value of the item and whether it is a gift or commercial goods.

See guidance from the European Commission around VAT thresholds

You can find out more about customs and sending items abroad for businesses and non-businesses.

The UK government has also issued a notice for international postal users on gov.uk search for "notice 143: a guide for international post users".

For more information on exporting to other countries, please see our dedicated country guides.

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Brexit | Royal Mail

InvestorPlace

AT&T (NYSE:T) continues to face strong pressures on multiple fronts and the companys longer term outlook appears to be particularly negative. As a result, I recommend that investors sell T stock into its recent strength. Source: Jonathan Weiss/Shutterstock Although AT&T reported better-than-expected first-quarter results on April 22, driven by the strength of its mobility business, the latter unit will likely face sizeable margin pressures and/or market share losses as inflation heats up. Also likely to drag down the telecom companys shares over time are its large debt and accelerated cord-cutting. Finally, in the long-term, the companys broadbands unit could be hit with tough competition from Elon Musks Starlink service. Mobility Margin Pressures In the wake of AT&Ts Q1 results, research firm MoffettNathanson stated that the company was able to continue offering attractive discounts to its wireless customers. But in the face of rising inflation, the company will likely have the uncomfortable choice of curtailing those discounts, potentially leading to major market share losses, or causing its wireless profit margins to fall meaningfully.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Further, the unit may have gotten a boost from the novel-coronavirus pandemic as many consumers likely spent less money on experiences and more on computer hardware, including cell phones and tablets. That trend, of course, is expected to fade going forward as the economy reopens. Debt, Cord Cutting and Ad Revenue As of the end of the first quarter, AT&T had a huge debt load of $169 billion., and its net debt was equal to 3.1 times its EBITDA, excluding certain items. There are some indications that the company could have trouble paying off its debt going forward. And if AT&T has to cut its dividend (the shares have a gigantic forward dividend yield of 6.6%) in order to pay down its debt, T stock is likely to dive sharply. 7 Stocks to Buy Right Now With All Eyes on Crypto Cord-cutting continues to be problematic for AT&T, as its premium video subscribers tumbled by 3 million last year and 620,000 last quarter. And according to S&P, in-line with previous predictions Ive made, cord-cutting is expected to generally accelerate going forward. The revenue of the companys Warner Media unit jumped 9.8% YOY as its ad sales jumped 18.5% YOY amid the economic reopening trend. Although the reopening will continue to boost ad revenue in the near-term and medium-term, I believe that, over the longer run, inflation may cause the companys ad revenue to fall meaningfully. Specifically, as companies profit margins drop due to higher input costs, many of them may react by cutting their ad budgets. Potential Competition From Starlink For many years, I have believed that tech companies could disrupt the somewhat antiquated broadband internet services offered by the cable and telecom companies. So far, this hasnt happened yet, but now Elon Musk, the man who revolutionized automobiles, is entering the sector. The Starlink satellite internet service, provided by Musks SpaceX company, has gotten off the ground (no pun intended). Although Starlink is only offering internet service in limited areas at this point, by the end of this year, its expected to be available in most of the world, although its only seeking to serve 5 million U.S. households at this point. Still, as technology and Starlinks innovations advance, I think that the services capacity will surge and its price will decrease. Since AT&T Fiber added a net total of 235,000 consumer subscribers last quarter, competition from Starlink would likely cause a serious problem for AT&T and T stock. The Bottom Line on T Stock AT&T faces an array of threats, including margin pressures, cord-cutting, inflation, and a huge debt load. Moreover, the company only expects its revenue to inch up 1% this year. Given these points, investors should sell T stock. On the date of publication, Larry Ramer did not have (either directly or indirectly) any other positions in the securities mentioned in this article. Larry Ramer has conducted research and written articles on U.S. stocks for 14 years. He has been employed by The Fly and Israels largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been GE, solar stocks, and Snap. You can reach him on StockTwits at @larryramer. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG It doesnt matter if you have $500 in savings or $5 million. Do this now. Top Stock Picker Reveals His Next Potential 500% Winner Stock Prodigy Who Found NIO at $2 Says Buy THIS Now The post AT&T Is Ailing, and Investors Should Unload T Stock appeared first on InvestorPlace.

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The millions of votes cast across Scotland Thursday could be among the most consequential in recent times, and not because of their impact on things like health, education and fisheries. The greatest issue facing the country, and the one that was really at stake, was nowhere to be found on the ballot, and that is the future of its 314-year-old union with England.

In the vote for parliamentary elections, the pro-independence Scottish National Party fell short of the majority it had hoped would create an irresistible momentum for a new referendum on breaking away from the United Kingdom. But it will retain power in Edinburgh, probably with the support of the Scottish Greens, guaranteeing that the issue will continue to dominate Scottish politics, as it has in recent years.

A lot. A second independence plebiscite, following one in 2014, could lead to the fracturing of the United Kingdom. Were Scotland to become independent, Britain would lose eight percent of its population, a third of its landmass and significant amounts of international prestige.

Some say the loss of Scotland would be the biggest blow to a British prime minister since Lord North lost the colonies in America in the 18th century. Understandably, the current prime minister, Boris Johnson, is no fan of the idea.

In the 2014 referendum, Scots rejected independence by a decisive margin, 55 percent to 45 percent. That was supposed to resolve the issue for a generation but two years later came the Brexit vote, and that radically altered the landscape.

While England voted to leave the European Union, 62 percent of Scottish voters wanted to stay. With only about a tenth the population of England, Scotland was badly outnumbered and its preference was simply ignored. Resentments over that have helped revive the push for what is widely known as indyref2.

Then there is the person of Mr. Johnson. Already widely disliked in Scotland, he did nothing to endear himself by steadfastly championing a hard-line version of Brexit, finally getting it done, as he liked to say, when 2021 rolled in.

The resultant disruption to exporters, and particularly to Scotlands important fish and shellfish industries, which relied heavily on friction-free trade with the European Union, has further angered Scots.

The main proponent is the Scottish National Party led by Nicola Sturgeon, Scotlands first minister. Her party has led the Scottish government for 14 years and she has earned praise for her steady handling of the coronavirus pandemic, particularly compared with the early performance of Mr. Johnson.

There are smaller parties that want another vote, too, like the Greens, who are close to the S.N.P. Another pro-independence party, Alba, is led by Alex Salmond, who is not an ally of Ms. Sturgeon at least not any more. A former first minister himself, Mr. Salmond was once Ms. Sturgeons mentor, but the two have recently been embroiled in a bitter feud, and his election campaign fell flat.

Re-established in 1999, Scotlands Parliament was designed to quiet calls for Scottish independence, but it hasnt worked out like that. The pro-independence S.N.P. has become the dominant force and, in 2011, won a rare overall majority in a Parliament where the voting system is designed to avoid any one partys domination. After that result, the Conservative Prime Minister David Cameron reluctantly agreed to the 2014 independence referendum.

Ms. Sturgeon had been hoping that a thumping victory for the pro-independence parties in these elections would give her the moral authority to demand another plebiscite. They fell short, but Ms. Sturgeon will keep up pressure for a referendum claiming that, combined with the vote for the Greens, she has a mandate.

They show a divided Scotland, split down the middle over independence. That is in line with the findings of opinion polls that last year showed a majority favoring independence only to fall back slightly in recent months. The Scottish Conservatives, the opposition Labour Party and the Liberal Democrats all oppose independence.

So dominant is the issue that some anti-independence voters seem to have switched allegiance from their normal parties to support the one most likely to defeat the S.N.P. in their area. Ms. Sturgeon is on course to remain first minister, which is an impressive achievement, but with her path to an overall majority likely cut off, her moral case for a second referendum has been weakened.

For a second independence referendum to be legal it would almost certainly need the agreement of London, and Mr. Johnson has repeatedly said no. Thats a big problem for Ms. Sturgeon, because she wants the result of any second referendum to be accepted internationally and for Scotland to be allowed to return to the European Union.

Far from it. Even if she has to rely on the Greens, Ms. Sturgeon is likely to have enough votes to push legislation for indyref2 through the Scottish Parliament and then challenge Mr. Johnson or his allies to stop it in court.

That could cause a constitutional crisis. After all, Scotlands union with England in 1707 was voluntary, making it hard for London to say no forever to another referendum. And Ms. Sturgeon may calculate that support for independence will only grow if Scots see the popular will being blocked by a government in England.

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Of Brexit and Boris: Whats Driving the Call for Scottish Independence - The New York Times

Brexit is done. Long live Brexit. The long election weekend started badly for Keir Starmer and Labour, and got worse from there, as the aftershocks of the 2016 referendum decision continued to reverberate through the English electorate.

At 7am on Friday, a massive Conservative victory was announced in the Hartlepool by-election, Peter Mandelsons former seat and Labours for decades hitherto. Even before the Hartlepool result was declared, the evidence from early council results was looking bad for Labour. Under Starmer, the party has sought to move on from Brexit. This, it seems, is not yet something English voters are willing to do. In seat after seat in Leave-voting parts of England, the Conservatives surged and Labour slumped. Leave voters, it seems, remain keen to reward the prime minister who got Brexit done.

Nearly 4,000 English council seats were up for grabs in this bumper election year, which rolled together this years scheduled contests with last years delayed ones. The BBC projected national shares for the parties put the Conservatives on 36 (+8 on the 2019 local elections) Labour 29 (+1), Lib Dems 17 (-2), other 18 (-7). The Conservatives gained full control of at least 10 extra councils, including Harlow, Dudley, Cannock Chase and Worcester. Labour started in a weak position yet still haemorrhaged seats and lost control of Rossendale, Sheffield and Plymouth. The long march back for Labour in English local government has not even begun.

The Tory surge was particularly evident in seats which last voted before the referendum, with a seven-point swing from Labour to Conservative, and a double digit swing in the most Leave-leaning seats. But Starmer was not able to make much progress even in councils last contested in the first post-Brexit local elections, held when his predecessor Jeremy Corbyn trailed Theresa May by more than 20 points in national polls.

Using the BBC database of 1,156 wards across the country, we can analyse how the parties performance varied by the social and demographic character of the local area. The story which emerges is a remarkable one: traditional class-politics patterns are being turned upside down by a realignment around divides by age, education and most of all Brexit choices. On every available measure of socioeconomic conditions, the Conservatives prospered most in the most deprived places and Labour did best in the most prosperous areas. This inversion of class politics has already been evident for several years but it has continued, and perhaps intensified, in the first post-Brexit local elections.

While the old class divides have reversed, the post-Brexit education divide has intensified. There were major swings to the Conservatives in the wards with the highest shares of voters with few or no formal qualifications, while there were modest swings to Labour in the wards with the largest concentrations of university graduates. There was less evidence of the generational divide seen in the last two general elections and Labours traditional advantage in more ethnically diverse areas was more muted than usual. In 2021, as in 2019, Labours core electorate was graduates, well-off professionals and Remainers. The problem for the party is that these groups are nowhere near sufficient to win general elections as long as the Conservatives remain popular among everyone else.

The demographic and Brexit divisions in council voting were also evident in English mayoral elections. Labour secured substantial victories in the big, ethnically diverse and graduate-heavy cities such as London, Manchester and Bristol that now represent its English strongholds, and won the West of England combined authority from the Conservatives. There was a moderate swing to the victorious Conservative incumbent Andy Street in the Leave-leaning West Midlands mayoralty, and a much bigger swing in the strongly Leave-voting Tees Valley, where incumbent Conservative Ben Houchen secured a landslide in the North Eastern combined authority containing Hartlepool. Elsewhere was evidence of residual Labour strength in the Liverpool, Tyneside and Doncaster mayoral elections, and traditional Conservative strength in police and crime commissioner elections in English shires.

This was also a disappointing weekend for the Liberal Democrats in England. There was no repeat of the partys 2019 surge, when they rode a wave of Remainer frustration to gain hundreds of council seats. The party trod water in terms of overall vote share but lost some ground in areas where it had done best in earlier years, and made a small net loss of council seats. The wait goes on for Lib Dems hoping for a post-coalition renewal in local government.

The Greens, by contrast, had another strong performance in England, building on their record-breaking advance in 2019. The party fielded a record slate of candidates and had gained more than 60 council seats at the time of writing, with many results still to come. Green candidates gained the most ground in places where the party had performed well last time, suggesting the party have learned the Liberal Democrats trick of concentrating support to build a strong presence in local government. The partys performance also overlapped with Labours, with the strongest Green showings in areas with the most graduates and professionals. Its expanding presence may have stymied Labour, with Green candidates winning most support from Labours strongest electoral groups.

Wales provided a bright spot for Labour, perhaps thanks to the Welsh government claiming the vaccine bounce accruing to the Westminster government in England. But the fallout from Brexit and from the collapse in a large 2016 Ukip vote also played out very differently in the Welsh Senedd than in Englands councils. Mark Drakefords party increased its constituency vote share by five points on 2016 in Wales first-past-the-post contests, and managed to do a little better in the places which voted most heavily for Leave. It added one seat overall, giving it exactly half of the 60 Senedd seats, and ensuring Labour would extend its 22-year unbroken run in charge of the devolved Welsh government. This performance reflected Conservative weakness as much as Welsh Labour strength while the Welsh Tories also advanced by five points in the first-past-the-post races, and gained five seats in the Senedd, they were down by 10 points or more on their 2019 Westminster performance, enabling Welsh Labour to hold off the Tory challenge in Leave-leaning marginal seats which had returned Conservative MPs in 2019. Plaid Cymru was unable to profit from Brexit tensions or Ukips collapse, and despite gaining one assembly seat, have fallen to third place overall, with 13 seats to the Conservatives 16.

In Scotland, the incumbent SNP government increased its constituency vote share, and captured several marginal seats, yet fell just short of realising its ambition of a second Holyrood majority. In another election heavily polarised around both constitutional questions, tactical voting by unionist voters looks to have helped Conservative, Labour and Liberal Democrat incumbent MSPs hold off SNP challengers in several key marginal seats. The SNP could not gain the seats they needed for a majority on the proportionally allocated regional lists, where their vote fell a little on 2016.

Overall support for all four of the largest Scottish parties was broadly unchanged, but Brexit reshaped the distribution of their support, with the Scottish Conservatives gaining most ground in seats with a larger 2016 Leave vote, while the other parties all did somewhat better in the most Remain seats. While these more subtle Brexit shifts were not sufficient to dramatically change the outcome in Scotland, when combined with unionist tactical voting, they did cut heavily into SNP majorities in a number of seats, creating a larger battleground of marginal seats for the next Scottish election.

The result therefore looks to be a third successive dominant SNP victory, but not one of sufficient magnitude to deliver Nicola Sturgeon a single-party majority. However, with the pro-independence Scottish Greens set to return a larger slate of MSPs on an improved performance, there is certain to be a cross-party majority for independence in the new Scottish parliament. That majority will not include former first minster Alex Salmond, whose new Alba party flopped with Scottish voters.

One big question hanging over these elections was whether the disruption Covid has wrought to social life, the economy and the governments role in both would break the long hold of Leave and Remain identities on our politics. That question has been answered decisively this weekend. We may be through with Brexit, but Brexit isnt through with us. And the SNPs third massive election win in a row looks to have set the scene for yet another wave of political disruption, as a Scottish government determined to leave the UK butts heads with a Westminster government determined to thwart it. British politics looks set to be framed by clashes of identities, values and constitutional preferences for a while yet.

Robert Ford is a professor of politics at the University of Manchester

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Labour wants to move on from Brexit, but English voters just wont let them - The Guardian

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From his restaurant at an old Nazi military bunker on Jerseys rocky northwest coast, former fisherman Sean Faulkner makes a prediction: If they dont get their own way, theyll be back.

Like his fellow islanders, Faulkner, 66, had just watched French fishing vessels stage a protest over changes in access to waters following the U.K.s departure from the European Union. The standoff prompted Britain and France to deploy warships in the strip of sea that separates them. Billedas a game of chicken byU.K. tabloids, the same press rejoiced when the Frenchwent home.

So while theimmediate danger wasdefused, the sight ofa naval confrontation near anislandof 100,000 inhabitants was a reminder of the real-life consequences of an acrimonious divorce and why its such populist politicalcatnip.

Sean Faulkner on the beach at St Ouen, Jersey, onMay 9.

Photographer: Chris J. Ratcliffe/Bloomberg

The sudden escalationturned a local economy primarily based on financial services into a post-Brexit theater ofthe absurd, and though fewin the outside world can locate Jerseyon a map,the fight is over a lot more than the mackerel, pollock and crab off its shores.

As part of the Channel Islands, Jerseyis neither in the EU nor officially in the U.K. It is aself-governing British crown dependency 14 miles away from Francethat relies on Britain for its defense. People there had no say in Brexit, a topic that consumed politics and markets.

Fish was the last sticking point in talks and one that resurrectedhostility between two neighbors that have taken turns being bitter enemies and strategic allies over centuries. So Jersey, almost by accident, got ensnared in the fraughtcross-Channel relations in recent months that has involved everything from customs bureaucracy to coronavirus vaccines.

Our cultural ties go back a thousand years, said John Le Fondre, Jerseys chief minister, who has been working with the U.K. government and European Commission on resolving the fishing problem. This slight difficulty is saddening.

Fishing boats moored in view of La Collette power stationin St Helier, Jersey, May 8.

Photographer: Chris J. Ratcliffe/Bloomberg

The latest clash came after Frances maritime minister, the daughter of a Brittany fisherman,suggested the government could cut off electricity supply to Jersey if the countrys grievances over fish werent addressed.

The Brexitdeal was that EU boats would still allowedto fish in U.K. waters for years though their access would need to be curtailed and also there would be a lot more red tape. There aredelays in getting licenses and the pandemic didnt help.

Sign upfor our Beyond Brexit weekly newsletter, follow us@Brexitandsubscribeto our podcast.

Annick Girardins words triggered a series of unintended consequences, according to French officials speaking on condition of anonymity. Theysaid they were surprisedhow quickly the situation escalated andworked the back channels to smooth things over.In Paris, the government was left navigating between appeasing the U.K. and publicly showing support for embattled fishermen.

The showdown also had itspolitical uses. U.K. Prime Minister Boris Johnson enjoyed a wave of positive headlineswith the Daily Mail labelling the retreat of the French fishing fleet as Le grand surrender.For French President Emmanuel Macron, some saber-rattling at the British is no bad thing when you face a challenge from the far-right leader Marine Le Pen.Frances junior minister for European affairs threatened the U.K. on financial services if Britain failed to grant licenses to French fishermen.Inaninterviewin the Journal du Dimanche, Clement Beaune said the U.K. is constantly testing the resolve of France and the EU in an attempt to show that Brexit was liberating:We wont let them do this.

Elizabeth Castle through the window of a harbor control officein St Helier.

Photographer: Chris J. Ratcliffe/Bloomberg

Amassing around Jerseys 16th century Elizabeth Castle beside its main harbor, the 60-strong flotilla was met with a military history re-enactment enthusiast firing a musket from the castles ramparts. France last tried to invade Jerseyin 1781 during the American Revolutionary War, the defeat of which is celebrated by various monuments throughout the island.

Yet screaming headlinesof a potential blockadeand the cutting of power supplies also carried a sinister undertone for some residents, given how they suffered food shortages when the island was occupied by the Germans during World War II. On Sunday, it celebratestheliberation from the Nazis.

At issue now is whether the spat can be quickly resolved, after French boats argue they were wrongly denied access and the European Commission accused theU.K. of breaching the terms of the Brexit deal. Caught in the middle, the Jersey government said it believes there arepractical solutions.

The value of the fishing at stake is a rounding error for the French, U.K. and Jersey economies, but its anemotive issue. Disagreement over fish almost derailed the entire trade deal between Britain and the EU, before a compromise was reached at the 11th hour on Christmas Eve.

Its not just about a few mackerels, the EUs chief Brexit negotiator, Michel Barnier, wrote in his recently publisheddiary about the trade negotiations. Its about men and women who live dangerously, courageous communities, who sustain coastal territories.A last-minute British proposal on fishing introduced just days before a deadline ran out on producing the trade and cooperation agreement was a bluff, he said, a document filled with traps, false compromises and backsliding.

Fishermen in Jersey have been particularly affected, with Faulkner having lost up to 50% of his sales from not being able to export to France due to the rising political tensions and new red tape. Jason Bonhomme, another fishermen, was unable to land his catch of cuttlefish in Carteret because an intimidating group of French fishermen stopped him at the quay.

The Lighthouse Beach Cafe in Le Mare, Jersey.

Photographer: Chris J. Ratcliffe/Bloomberg

Brexit has been carnage, one person who fishes lobster and crab around Jersey said, who asked not to be identified. They used to export their catch in France, but now they must try to sell it all locally.

Somezones remain closed, which meansboats are wading intoother waters. French fishermen will argue there are also other unresolvedfactors in play, such as how the fishreproduce closer to their warmer coastline before migrating closer to Englandat the adult age when they become prize catch.

A quirk of the dispute is the rich seam of French heritage that runs through Jersey, which is best known internationally for itspotatoes andcows. Many of its road names are in French and Jerriaisthe local dialect that is still taught in the islands schools, though few people speak it nativelyis closely related to French.

Its also not the first time French boats have made a statement around Jersey: In 1998, some Frenchmen briefly captured the Minquiers, a small group of rocks and islands belonging to Jersey off its south coast where fishermen often land.

For all the controversy, years of fishing together in sharedwaters means many Jersey and French fishermen are friends and they dont want to see the dispute get out hand.Many Jersey people have French blood in their ancestry and the island has long enjoyed good relations with its closest neighbor, the lobster-fisher said.

As one person put it: We dont want to start a war with the French.

With assistance by Iain Rogers

(Adds comment from French minister in 12th and 13th paragraph.)

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An Island Tax Haven Shows How Brexit Fight Over Fish Isn't Over - Bloomberg

When the UK and the EU finalised their trade deal last December, you could be forgiven for assuming that Boris Johnson had fulfilled his pledge to get Brexit done. But as events this week have proved, the process is far from over. An argument with France over fishing rights around the island of Jersey rapidly descended into threats, blockades and the government sending in the navy.

The current dispute rests on differing interpretations of one part of the trade and cooperation agreement (TCA), the trade deal that now governs economic relations between the UK and the EU. While Jersey is not part of the UK and was never within the EU, the TCA replaced the Bay of Granville agreement, which used to govern fishing rights in Jerseys waters.

The new agreement requires any EU vessel fishing in Jerseys waters to have a new licence from the Jersey government. These licenses are issued according to how much a vessel carried out fishing activities in Jerseys waters between February 2017 and January 2020. After a transitional arrangement was agreed in January while the new system was being set up, these new licences started to be issued by Jersey at the end of April.

The response to Jerseys new licences has been furious. The French have argued that the new arrangements are unfair and that the licences come with strict conditions limiting how many days a vessel can operate in Jerseys waters or what type of fish it can catch. On Thursday, French fishing boats congregated at Jerseys St Helier port in protest at the licensing arrangements. The situation escalated further when the British government sent Royal Navy patrol vessels to the area to monitor the protests, amid threats from France that it could cut off access to Jerseys electricity supply.

Ultimately, we should expect this situation to be resolved diplomatically before long. But the standoff points to a broader challenge for the UK as it navigates its post-Brexit relationship with its European neighbours. The withdrawal agreement and the UK-EU free trade deal set out a framework for the UKs future relationship with the EU, but in many respects these treaties leave crucial matters ambiguous and unsettled. As the deal is implemented in practice, this seems bound to lead to continuing tensions with the EU and its member states.

Take these three examples of simmering controversies within the UK-EU relationship.

First, on fishing, the free trade agreement settles how to manage reciprocal access to waters and the sharing of fish stocks for an adjustment period of five and a half years. But after the end of this period, in 2026, negotiations between the two sides on future access are meant to resume on an annual basis and the UK is expected to push for larger quota shares. As a result, the deal kicks many of the big arguments over fishing rights into the long grass, raising the likelihood of further flare-ups down the line.

Second, the protocol intended to prevent a hard border on the island of Ireland has raised a succession of major challenges for trade within the United Kingdom. Food and drink companies in particular have struggled to handle new paperwork and plant and animal health checks for goods moving from Great Britain to Northern Ireland.

Given the broader implications for political stability in Northern Ireland, its clear that correctly implementing the protocol will require just as much care and consideration as the original negotiations. Yet with the EU launching infringement proceedings over the UKs decision to unilaterally extend the grace period for exempting checks on supermarket agri-food goods to Northern Ireland, the prospects of a quick resolution seem slim.

Finally, on the critical issue of the level playing field, the UK and the EU have agreed a complex set of provisions that seem destined to be the subject of future dispute. The idea of the level playing field is to ensure that the UK and the EU do not gain an unfair competitive advantage as they diverge from each others regulations. The UK-EU deal includes commitments on upholding standards on the environment, climate breakdown and workers rights, as well as rules on subsidy control.

If (or when) the UK decides to no longer follow the EUs approach to these standards, the commission will be watching carefully to ensure there is no breach of the terms of the trade agreement. The more the UK plans to diverge from the EUs regulatory model, the more likely the prospect of a series of protracted legal battles over the impacts on trade and competition.

This weeks events therefore highlight that in many respects the Brexit process has only just begun. After all, untangling decades worth of trade ties and regulatory harmonisation was never going to happen overnight.

To make this work, its time to turn the page on the Brexit wars and resist inflaming tensions with the EU and its members with thinly veiled threats or acts of defiance. Ultimately, we will need to find a way to cooperate alongside our closest neighbours and largest trading partners without resorting to gunboat diplomacy.

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The Jersey fishing standoff shows Brexit has only just begun - The Guardian

British naval vessels dispatched to break a French blockade, Scottish nationalists attempting to break away from the U.K., and working class voters in the northeast breaking for the Conservatives after voting Labour for six decades.

Why it matters: That was just one day in the topsy turvy reality of post-Brexit Britain.

Polls have just closed in what Scottish First Minister Nicola Sturgeon has called the "most important election in our lifetime."

80 miles south of the Scottish border, in Hartlepool, Johnsons Conservatives are poised to pick up a seat that has been held by Labour since 1964.

The Brexit aftermath has been less kind to Arlene Foster, who resigned last week as First Minister of Northern Ireland.

One scene few would have predicted is a confrontation in the English Channel between two stalwart allies.

Between the lines: Fishing rights took on a major symbolic status during the Brexit fight. Johnson has also long vowed that post-Brexit Britain would flex its muscles internationally.

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Blockades and ballots: A wild day in the post-Brexit U.K. - Axios