Category Archives: Brexit

Brexit minister Lord Frost resigns from Cabinet

The Government's former Brexit negotiator has accused some EU officials of ongoing bad faith in a wide-ranging interview with The Telegraph. Of the UK's current relations with the bloc, he said: "While I was in those [Brexit] negotiations, I often felt we werent being taken seriously, that the EU didnt look on us as an equal negotiating partner, but as a kind of province or territory in which they expected to exercise exceptional influence, one way or another.

"Thats not how we saw it and I wasnt happy about it.

"I think the atmosphere is gradually improving, as certain people move on. But a lot of the EU is invested in Brexit failing."

In a discussion on civil service reform, the former senior Foreign Office mandarin disagreed when asked if people in Whitehall wanted to sabotage Brexit under Theresa May's premiership and since.

He said: "I wouldnt say sabotage. But the intellectual midpoint of the Civil Service was that the European Union is a jolly good thing, and it was very bad that we were leaving so it took time to get the system in the right place."

Lord Frost acknowledges in The Telegraph that "there was obviously an attempt to stop Brexit after the referendum, with parts of our political establishment working in cooperation with some in the EU to have a second run at it".

On Northern Ireland, which is still in the EU single market, Lord Frost describes it as "quite shocking" that Brussels has used the territory's fragile peace as a bargaining chip when negotiating Brexit, in particular when Theresa May was Prime Minister.

He said: "One of the problems we had when we came in in 2019 is that a lot of the damage had been done, with positions of principle already conceded.

"We were extremely worried we wouldnt get Brexit at all in any form, so we took the strategic decision to deliver it as quickly as possible, in a way that gives the country free choice about the future."

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He added that under the Northern Ireland Protocol, in contrast with Mays Irish backstop, the Northern Ireland Assembly has the right to vote in four years time as to whether or not existing arrangements should continue.

The Government also has the right to invoke Article 16 of the protocol, which would bring the agreement to an end.

Lord Frost said: "It definitely has to be a real option for us. Its always best to do things by negotiation if you can, but the way the EU is acting now makes no sense and its obvious the protocol must be changed significantly or replaced.

"If they insist on the goods moving into Northern Ireland as being like any external border of the EU, then it wont work. Thats not what the protocol was designed to do.

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"If the EU wants a good relationship with us, they should negotiate and put in place something better."

It comes as Irish Foreign Minister Simon Coveney said he wants to see an agreement on the Protocol reached by the end of February.

He said he does not want to see the Northern Ireland Assembly election in May become dominated by the "polarising" issue.

Since taking over Brexit negotiations after Lord Frost's resignation, Britain's Foreign Secretary Liz Truss held her first meeting with European Commission vice-president Maros Sefcovic this week.

Mr Coveney, speaking on Friday, said the meeting marked a reset in the relationship between the EU and UK, which is now "in a better place" than seen "for a while".

He said: "From my conversations with both sides, I think that process will be a very serious one.

"I think in people's minds, really, we would like to have, if possible, these issues resolved by the end of February so that the elections in Northern Ireland can move ahead without being dominated by the Protocol issues, right the way to polling day.

"Elections in the North are often polarising enough affairs without having the added complexity and tension around the Protocol and its implementation.

"So I think everybody is conscious of their responsibility in terms of trying to bring some stability and certainty to Northern Ireland in the context of Brexit, and the Northern Ireland Protocol."

Ms Truss said there is a "deal to be done" following her meeting with Mr Sefcovic.

However, she refused to rule out the possibility the UK could invoke Article 16 if a way forward could not be agreed upon.

However, Mr Coveney insisted the Protocol is here to stay and he did not expect the UK to remove the threat of Article 16 until a deal is agreed.

He told RTE Radio One: "The Protocol is there. It's part of an international treaty, it's part of international law.

"And so the focus really on the EU side is how do we implement this Protocol in a way that is pragmatic and flexible, and takes on board the genuine concerns that have been raised in Northern Ireland?

"I think if both sides work on that basis, there is a landing zone that can be agreed over the next six or eight weeks.

"As an Irish government perspective, we'll be working to try to assist that process."

Mr Coveney said he did not expect the UK Government to follow through on its threat to trigger Article 16, adding: "I don't expect that the UK side will take something like the use of Article 16 off the table, until there's an agreement. That's just the nature of negotiations.

"But I have to say, I think the consequences of the triggering of Article 16, in a way that sets aside large elements of the Protocol would be hugely damaging to the relationships that we're now trying to build to solve these issues through negotiation and good politics."

Since its introduction in 2021, the Protocol has disrupted trade between Great Britain and Northern Ireland.

Unionists are opposed to the checks because they do not want Northern Ireland to be treated differently to the rest of the country.

The UK wants changes, including getting rid of checks between the UK and Northern Ireland.

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Lord Frost exposes how EU really sees the UK bloc is invested in making Brexit fail - Express

Its now official. At least one state government in the UK has declared the term Brexit politically too toxic and banned its use in official correspondence and statements.

The Labour-led Welsh Government has ordered its civil servants not to use Brexit to refer to Britains exit from the European Union. The period between February 1 and December 31, 2020 when Britain was in the process of leaving the EU, is to be referred to as the transition phase.

The Brexit has acquired a divisive connotation because of the way it was used by Boris Johnson and his supporters during the 2016 referendum to polarise public opinion portraying opponents of Brexit as anti-national. It triggered widespread xenophobia leading to immigrants from EU countries being targeted and told to go home.

Other terms banned in an updated official style-guide issued by the Welsh Government include HM government (Her Majestys government) to refer to the Central UK government; BAME for members of Black, Asian and Minority Ethnic communities; and able-bodied. Substitutes recommended are UK government, Black, Asian and Minority Ethnic, and non-disabled respectively. And, oh, Welsh Assembly is no longer Welsh Assembly. Its Welsh Parliament.

The move has been greeted with mockery with some officials accusing the government of behaving like a Big Brother gone bonkers by banning words and phrases used every day by ordinary people.

Is this whats called losing the plot? as one official said

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London Diary: Brexit is a dirty word now - National Herald

Boris Johnsons withdrawal agreement effectively kept Northern Ireland in the single market - a move with has outraged its unionist community. Now the protocol has created another problem as the skyrocketing price of gas threatens to help exacerbate a looming cost of living crisis.

Unlike the rest of the UK, Northern Ireland cannot currently cut VAT below five percent.

This is because it is bound by Article 8 of the Northern Ireland Protocol, which deems the province within the European Union rules for VAT and excise.

Current EU legislation deems five percent the minimum threshold VAT can be levied at, which itself is the existing UK rate on energy and so it could not be cut here.

This means that a Scrap the VAT campaign on energy bills being run by broadcaster and economic commentator Liam Halligan would not be allowed to apply in the province.

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Are they prepared to back the opposition in calling for a pan-UK reduction in living costs or will they yet again demand a rigorous implementation of a protocol that legislatively limits the positive impact a nation state can have in helping ordinary people with their everyday lives?

Alliance MP Mr Farry, along with SDLP MPs Mr Eastwood and Ms Hanna have all criticised Brexit in the past.

Earlier this week a Labour motion calling for VAT to be scrapped on energy bills was dismissed in the House of Commons.

MPs voted by 319 to 229 a majority of 90 against the proposal, with Anne Marie Morris the only Conservative MP to rebel and support the measure.

Labour argued that the move - which would be funded through a tax on North Sea oil and gas companies - could save households 200 off their bills, with up to 600 in total for those who need it most.

Speaking afterwards, Sir Keir said Conservative MPs had been given the opportunity to put families, pensioners and struggling businesses first, with a VAT cut on energy bills.

They voted against it.

Instead of providing security for those who need it the most, the Conservatives are abandoning them.

Express.co.uk has contacted all three MPs for comment.

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Brexit outrage: UK powerless to cut hated VAT while still shackled to EU MPs told to act - Daily Express

The Operation Brock system installed to manage expected traffic chaos in Kent after Brexit will now itself cause a year of disruption as the barrier is moved from the edge to the middle of the motorway.

The scheme, costing an initial estimated 35m, was designed to reduce blockages on the roads to and from the Channel ports with a contraflow system for queueing lorries held up by border and customs requirements.

Steel sections originally in use were replaced by a movable concrete barrier from 2020, meant to minimise disruption by reducing installation and deactivation times.

Now that barrier itself needs moving, according to National Highways, on to the central reservation while it tackles drainage issues on the motorway.

Work to move and store the barrier will see overnight closures of parts of the M20, which runs from London to Folkestone, starting at the end of January, with lanes closed on both sides for an expected 40 weeks.

The concrete barriers run on a 16-mile stretch of the Kent motorway, and are currently stored on the London-bound hard shoulder.

While queues never reached the worst-case predictions of up to 13,000 lorries, the system was briefly revived last July when the start of the school holidays raised fears of congestion around the Channel ports.

Last October it was revealed that the government was retaining the emergency powers to implement the system in case of future border disruption.

National Highways said it would need to carry out an extensive drainage upgrade and ground work to allow the Brock barrier to be stored on the central reservation. Work could last up to 12 months, it said.

Confusingly, the Brock barrier will be placed on the motorway to seal off the necessary works until October. National Highways said this will not mean the Brock contraflow system will be active but it could be. The measure will provide a more efficient and cost-effective way of being able to deploy the contraflow quickly and effectively should it be required, the agency added.

Reduced speed limits will also be in place on parts of the M20 for the duration of the works.

Councillors said they do not fully understand the reasons behind the latest developments in Operation Brock, whose deployment has long been a source of irritation for local people and motorists.

Ashford borough councils deputy leader, Paul Bartlett, told Kent Online he believed there were safety concerns, adding: It seems extraordinary for it to take 12 months. Theyve sent a very long letter out about it but it doesnt give a great deal of information about why they are doing it.

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Work on post-Brexit lorry contraflow system in Kent will disrupt M20 for a year - The Guardian

Plans for the 2.5billion West Midlands Gigafactory were approved this week. The new factory will provide 6,000 direct jobs in the UK and over 10,000 in the region. Due to the new gigafactory, the price of electric car batteries is set to plummet in the UK, as the Government looks to become a world leader in electric car production.

The factory will be built at Coventry Airport and has been supported by Warwick District Council.

The plan is also supported by Andy Street, the Mayor of the West Midlands, who previously claimed it would be "mission critical".

It is hoped the new plant will provide electric vehicles from 2025 and will be a huge boost for the Government's net-zero plans.

James Morris, a technology expert and editor of WhichEV, previously toldExpress.co.uk: "Everything shrinks, technology gets faster and cheaper all the time, but particularly batteries.

What happens with these things is that when someone puts investment in to create the next generation of batteries, it is really expensive.

"But once you have paid it, you then see that what each one of these gigafactories will enable is a new generation of cheap supply.

Once they have paid off the cost of making that really expensive factory, the price will plummet.

In steps, they will get cheaper and cheaper. Every year there is going to be a new benchmark.

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The Japanese carmaker will build its new all-electric model at the site in Sunderland and will build an electric battery plant.

The expansion will cost 1billion and create 1,650 new jobs.

Despite fears Brexit may jeopardise the plant, Nissan's chief operating officer, Ashwani Gupta, said the company sees the UK's exit from the EU as an opportunity.

He said: "If it happens without any sustainable business case obviously it is not a question of Sunderland or not Sunderland, obviously our UK business will not be sustainable, that's it.

"The key success factor for Brexit has always been trade friendly business conditions to sustain our business not only in the UK but in the whole of Europe and thanks to Brexit, Nissan is moving forward to use Brexit as an opportunity."

UK company, British Volt will also build a gigafactory in Northumberland.

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Brexit Britain gets third gigafactory 2.5bn Coventry plan approved creating 10,000 jobs - Express

Today, the Foreign, Commonwealth and Development Office has published its Annual Sanctions Report, detailing its huge successes on sanctions since leaving the European Union.

Sanctions are used to maintain international security, support foreign policy and national security, and prevent terrorism.

Lord Tariq Ahmad of Wimbledon, Minister of State, Foreign, Commonwealth and Development Office, described the UK as a network of liberty and defender of human rights.

Now, freed from the red tape of the European Union, the UK is a fully-fledged independent sanctions player on the world stage.

He said: Since leaving the EU and moving to an independent sanctions policy, the UK has become more agile and has real autonomy to decide how we use sanctions and where it is in our interests to do so.

There are updated sanctions against people associated with ISIS and Al-Qaeda.

From the end of the Transition Period to December 2021, there have been 160 UK autonomous sanctions designations across 13 regimes. It has also launched the Global Anti-Corruptions Sanctions regime. Ten new sanction measures have been added to the Belarus regime and 16 pieces of secondary legislation made.

On July 6, 2020, the UK launched the Global Human Rights sanctions regime which gave the Foreign Secretary the ability to sanction those implicated in human rights abuses globally.

The sanctions allow asset freezes and travel bans on individuals and entities involved in torture, forced labour or violations of the right to life.

In April 2021, the UK Global Anti-Corruption Sanctions regime followed, enabling the UK to combat serious corruption around the world and prevent funds from being used to fund conflict, terrorism or organised crime.

Lord Ahmad says sanctions send a clear message that the UK is not a safe haven for anyone involved in serious corruption and human rights violations or abuses.

Lord Ahmad added: These sanctions regimes are not about punishing countries or their populations. They are smart tools allowing the Government to impose both asset freezes and travel bans on specific individuals or entities in order to provide accountability for and deter corruption and serious violations of human rights around the world.

On April 26, 2021, the UK clamped down on unrest in Myanmar, imposing a sanctions regime in response to the coup dtat staged by the Myanmar military.

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Brexit Britain finally free to crush evil outside of EU 160 new sanctions imposed - Daily Express

Ministers say the UK is on track to become part of the 9trillion Comprehensive And Progressive Trans-Pacific Partnership (CPTPP) next year.

Joining one of the worlds largest free trade areas would ultimately trigger major tariff cuts in industries such as food, drink, cars and tech.

Additionally, the UK would form closer alliances with 11 current members including Australia, Canada, Japan, Malaysia and Singapore.

In a report for the Centre for Policy Studies (CPS), Conservative MP Anthony Mangnall points out that membership will mean tariffs are slashed on 99.9 percent of UK exports to other member nations, unlocking the potential to boost GDP by up to 20billion a year.

CPTPP offers a huge opportunity for Britain, he writes. The benefits of joining are clear an economic boost to the whole of the UK, geo-political support to our allies and the development and standardisation of global trade rules.

Our membership to CPTPP does not reduce our high standards or strip away our sovereignty [but] seeks to raise standards and provides a platform for the UK to play a leading role in shaping the future of trade.

Foreign Secretary Liz Truss made becoming a member of the CPTPP a key priority for the UK in her previous role as International Trade Secretary.

Last week, Britain and India kicked-off talks on a new free trade agreement worth almost 30billion.

The UK wants to slash barriers to doing business with Indias 2trillion economy and its market of 1.4 billion consumers, including cutting tariffs on exports of cars and Scotch whisky.

Since Brexit, Britain has been able to strike new free trade deals with 70 countries, worth over 760billion, according to the Government.

Elizabeth Dunkley, researcher at the CPS and report co-author said: The CPTPP represents an exciting opportunity for Global Britain.

Businesses, exporters and consumers across the whole of the UK stand to benefit from the related cost savings and efficiency gains.

With the worlds economic centre of gravity shifting eastwards, CPTPP presents an unrivalled opportunity for us to influence the development of global rules and regulations, while strengthening ties with some of our closest strategic allies.

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Hope of 20bn a year jobs boost for Brexit Britain in Asian-Pacific bloc - Daily Express

Its blissful escapism, glorious Yorkshire Dales locations and heartwarming animal rescue stories have captured the hearts of American viewers.

Now All Creatures Great and Small is set to heal Britains Brexit divide with kindness, producers say.

Channel 5s adaptation of James Herriots novels about a trio of veterinary surgeons working in a 1930s Yorkshire village, has become a surprise global hit.

Despite initial fears that the drama, starring Samuel West as the hard-to-please Siegfried Farnon would struggle to match the BBCs previous adaptation, which ran from 1978 to 1990, the uplifting revival has charmed audiences in North America, Japan, Australia and the Philippines.

Airing on the PBS network in the US, the first series of Channel 5s All Creatures was seen by 10 million viewers, numbers which match the UKs previous biggest TV period drama export, Downton Abbey.

When the second season aired last Sunday, Rolling Stone magazine called it an incredible balm whilst the New York Times welcomed its cheerful optimistic tone.

With a further two series already commissioned, Sir Colin Callender, executive producer, said All Creatures Great and Smalls depiction of a community pulling together through acts of kindness is helping to ease Britain through Brexit.

Coming out of Brexit, it was clear the country was divided between metropolitan cities and rural England, he told i. I thought James Heriots books embraced the qualities of community and friendship and celebrated acts of kindness.

We could bring audiences together and cross that divide which is at the core of our uncivil public life. The show is bringing families together across different generations.

All Creatures success has illustrated the folly of the BBCs decision to pass on the remake. They were concerned it wouldnt stand shoulder-to-shoulder with the original and they thought it wouldnt appeal to younger audiences, Sir Colin reveals.

As it happens it does very well with younger viewers and were delighted that the original audience, after some initial caution, has embraced it too.

The producer says there was rational logic to the BBCs decision and praises Channel 5 for taking a gamble and rolling the dice on a show, whose 2021 Christmas special beat rival offerings from the BBC and ITV in the ratings.

Another big winner from the series popularity is Grassington, the North Yorkshire market town which doubles for the fictional Darrowby.

An All Creatures tour now ferries fans to The Drovers Arms (The Devonshire Arms in real life) and the bustling cobbled market square where Darrowby Cycles, Higgins Bakers and Grocers GF Endleby are seen weekly in the show.

When people are able to travel more freely, I think its going to have an enormous impact on tourism in Yorkshire, Sir Colin predicted.

The producer credits drone camera technology for introducing the sweeping shots of the Dales countryside which have entranced international viewers. The 1978 series didnt access to those, he said.

Speaking from Los Angeles after testing positive for Covid, Sir Colin said Omicron had boosted the US audience.

Viewers want relief from the daily trauma and difficulties they are dealing with. Who knew season two would go out here at the height of this brutal surge?

The most important decision the producers made was to give the books, published by veterinary surgeon Alf Wight, who wrote under the pseudonym James Herriot, a more contemporary feel.

We placed centre-stage the female characters Helen (James love interest played by Rachel Shenton) and housekeeper Mrs Hall (Anna Madeley), which they arent in the books. We made them three-dimensional characters with a psychological underpinning.

Sir Colin said there was a huge global appetite for high quality British TV drama.

But he urged the UK Government not to damage the eco-system that produces those programmes by selling off Channel 4 or making further cuts to the BBC licence fee.

Siegfried, younger brother Tristan and James will face new challenges as the next series heads into 1939, under the shadow of war.

The horror of war brings the joys of Darrowby into sharper focus. It becomes more important for the characters to protect what they have.

The BBC declined to commnent on its discussions over the series.

:: All Creatures Great and Small Series 2 is available for catch up on the My5 streaming platform

Channel 5s Yorkshire heavy output as well as All Creatures Great and Small, it has shown The Yorkshire Steam Railway, Our Yorkshire Farm, Made In Yorkshire and The Yorkshire Vet has prompted fears of a lack of on screen diversity.

In 2020 the channels controller Ben Frow said: Yorkshire is very white. We have to make much more effort.

But this week Sir Colin Callender, executive producer of the James Herriot series, said that the lack of minority characters in All Creatures reflects the population at that time.

As programme-makers we are conscious of our responsibility to embrace diversity where we can but we want to do it within the parameters of what was real at the time, he said.

We will do it in an organic and truthful way, predicated on the historical reality.

Sir Colin added that diversity could be achieved through casting disabled actors as well as ethnic minority performers.

There was no need to introduce an American character to keep US viewers entertained as they are already hooked on the show, he said.

Netflix chose to adopt colour-blind casting for its Regency series Bridgerton, choosing black actors to play characters written as white people in its source novels.

Heartbeat

The North York Moors National Park, and the quaint village of Goathland became famous as the fictional Aidensfield, the location for ITVs 60s-set police drama, initially starring Nick Berry. First aired in 1992, the show hit a peak audience of 13 millions before being axed in 2010.

Last of the Summer Wine

Tourists still flock to Holmfirth, the quirky Kirklees market town, in search of Sids caf and Norah Battys Cottage. The first UK comedy to move from a studio to an outside location, show ran from 1973 to 2010 but the Wrinkled Stocking Tea Room still does a brisk trade.

Harry Potter and the Deathly Hallows

Pennine Way stop-off Malhamdale earned a starring role in global franchise when Hermione and Harry camped on the top of Malham Cove. Other scenes features Malham village and Kirkby Malham.

Calendar Girls

The true story of the middle-aged Yorkshire women who posed for a nude calendar made Kettlewell famous when film-makers used it as the location for the village of Knapely.

All Creatures Great and Small (1978 to 1990)

For fans of the original BBC series, Herriot Country will always be Askrigg, the small village on the path to Swaledale which provided the Drovers (The Kings Arms pub). Skeldale House, which starred in the drama, now offers luxury lets featuring a Tricky Woo suite.

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All Creatures Great and Small is healing Britains Brexit divide with kindness, producers say - iNews

Having jumped the most in three weeks, GBP/USD steadies around 1.3710 during early Thursday.

The cable pair cheered broad US dollar weakness post-inflation release to print the notable run-up. However, cautious sentiment ahead of the key Brexit talks and recently hawkish Fedspeak challenge the bulls of late.

US CPI jumped to the highest levels since 1982 while matching 7.0% YoY forecasts, up from 6.8% previous readouts. The monthly figures rose to 0.5% versus 0.4% expected but softened below 0.8% prior.

Following that US inflation data, Federal Reserve Bank of St.Louis President James Bullard said, per Wall Street Journal (WSJ), Four rate hikes in 2022 now appear to be on the table and, in the face of high inflation, a rate hike in March seems likely.

On the same line were comments from the member of the FedBoard of Governors and incoming Vice Chairman of the FOMC Lael Brainard who said, Inflation control is Fed's most important task. Additionally, President and CEO ofthe Federal ReserveBank of San Francisco MaryDaly signaled a rate hike as early as March.

It is worth noting that the worsening virus conditions also challenge GBP/USD bulls. Covid-19 infections in the UK climbed to a new record high in the first week of the year, though levels dropped slightly inLondon,new figures show, per The Independent. The news also mentioned, An estimated 4.3 million people in private households across the UK had Covid-19 in the seven days to January 6, up from 3.7 million in the previous week.

Elsewhere, politics also plays its role to challenge GBP/USD buyers as UK PM Boris Johnson accepts mistakes of holding a booze party during the early pandemic days. However, the Tory leader refrains to step aside even as some of the key politicians demand.

Against this backdrop, US 10-year Treasury yields add 2.5 basis points (bps) to regain 1.755 level whereas the 2-year counterpart rises 1.6 bps to 0.923% by the press time. Further, S&P 500 Futures drop 0.20% intraday after the Wall Street benchmarks closed with mild gains.

Looking forward, UKs Brexit Minister Liz truss will host European Commission Vice President Maros Sefcovic at the foreign secretarys country residence, Chevening House, on Thursday, per Bloomberg. UK Foreign Secretary Liz Truss enters the latest round of post-Brexit negotiations over Northern Ireland, facing a choice between picking a fight with the European Union that would curry favor with her Conservative Party faithful or cutting a deal to avert a trade war, adds the news.

Bloomberg also quotes the British Trade Secretary Anne-Marie Trevelyans India visit for talks on an agreement that Britain hopes will help double its trade with India by 2030.

While UK-India news may have little impact on the GBP/USD prices, fears of a negative start to Truss Brexit career can drag the quote downwards.

Other than the Brexit talks, the US Producer Price Index (PPI) for December and weekly jobless claims, as well as Fedspeak, will be important to track as well.

Sustained run-up beyond the previous resistance lines from July and June, respectively around 1.3680 and 1.3600, keeps GBP/USD buyers hopeful. However, overbought RSI conditions may test the immediate run-up until crossing the October tops near 1.3835.

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GBP/USD struggles to defend 1.3700 ahead of key Brexit talks - FXStreet

After leaving the EU on January 1 2021, City insiders feared Brexit would damage businesses as the trade deal included no equivalence with the blocs financial sector. However, new data puts the UK capital ahead of other European financial hubs.

Analysis of Forbes 30 Under 30 lists by business comparison platform Bionic saw London host the highest number of young entrepreneurs.

The UK capital houses 115 of Forbes list of top young business persons, ahead of New York with 106 and San Francisco at 88.

Berlin placed eighth on the list, with only 10 of the outlets list of entrepreneurs living in the German capital.

While the US still is home to the most young entrepreneurs with 428 of the list, or 41 percent, residing in the country, the UK houses 145, or 14 percent.

Catherine McGuinness, policy chair at the City of London Corporation, told DW fears Brexit would crash business in the capital have not come to pass.

She told the outlet: While some business has inevitably relocated to the continent, predictions of tens of thousands jobs leaving the City have not come to fruition.

At the same time, many more thousands of jobs have been created as EU firms have shifted some of their operations to the City to continue to operate in the UK market.

We have also seen developers and investors continue to show confidence in the Square Mile [The City of London] through major planning applications.

In 2021, a total of 4,360,944 square feet (400,000 square meters) of new office floorspace was approved an increase of almost 70 percent year-on-year.

READ MORE:Lord Frost exposes how EU really sees UK bloc wants Brexit to fail

Lee Wild, head of equity strategy at Interactive Investor, also told EuroNews London is still dominant in several markets, including foreign exchange and derivatives.

He said: London has spent hundreds of years as a global financial centre. Brexit will not change that, certainly not anytime soon.

Leaving the EU brings challenges and there are threats from Paris, Brussels, Frankfurt and Amsterdam.

"But the likelihood that European rivals will wrest the crown of Europe's primary finance hub from the UK is slim."

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Consultants EY said in December the number of finance jobs shifting from Britain to the EU over Brexit is less than initially expected.

In their Brexit tracker at the time, they said: However, over the last year, a number of the largest investment banks located in the UK have revised down the number of staff that will be relocated to the EU, taking the current number of Brexit-related job move announcements to just under 7,400, down from 7,600 in December 2020.

This is a fraction of the 1.1 million people working in finance.

There have been around 2,800 new hires in the EU due to Brexit, which avoid the need to relocate some staff from London, with 2,200 finance jobs also created in the UK, EY said.

Brussels has yet to sign off on a new discussion forum for financial regulators agreed in principle in December 2020.

Miles Celic, chief executive of TheCityUK, has said it was time to focus on long-term competitive factors.

Britain has since begun overhauling UK rules to make London more attractive for international investors and compete better with EU centres like Amsterdam.

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Brexit Britain win as London named best city for young businesses - Daily Express