London Calling is a weekly rundown of the top ten emerging issues from the past seven days shaping US-UK commercial relations.
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Memo: London Calling | Edition 9 | March 10, 2021
1. With her job on the line, Nicola Sturgeon of Scotland hits back at critics: NYT reports in testimony in Edinburgh, the first minister said she broke no rules and rejected claims of a conspiracy against her predecessor as "absurd."
"I had no motive, intention, or desire to 'get' Alex Salmond." -- Nicola Sturgeon
Five takeaways:
1. No conspiracy
2. Sturgeon knew what, when?
3. Doomed court case
4. Who's leaking?
5. This ain't over
2. Nigel Farage quits politics - and this time, he means it: The Reform Party leader is stepping back after almost three decades. But he's still got the woke brigade in his crosshairs.
In an interview with the Sunday Telegraph, Farage said his two main focuses would be China's influence in the UK, and "the woke agenda, literally the indoctrination of our children from primary school all the way through university with now a completely different interpretation of history."
@MrKennethClarke: 'Nigel Farage quits politics.' In other fake news, I've quit booze and cigars.
3. Rishi Sunak delivers spending now, tax later Budget to kickstart UK economy: FT reports the Chancellor's £65bn 2-year boosts to tackle the pandemic's effects followed by most significant tax rises in decades.
"I know the British people don't like tax rises... But they dislike dishonesty even more." -- Rishi Sunak delivering his Budget in the House of Commons.
4. UK Chancellor Rishi Sunak unveiled a roster of eight English freeports, low-tariff business zones being created to stimulate trade and investment in the wake of Brexit and the coronavirus crisis.
The winning bids came from ports scattered across England, including the Thames river estuary near London. At least one will be named later in each of Scotland, Wales, and Northern Ireland.
+ Initiative aimed at growing trade while adding green jobs
+ Districts spread across the country in a bid to lift manufacturing
5. Friction at the UK border is rising again following Brexit as shipping companies rejected more cargoes due to cross the English Channel from France.
The rate that freight companies declined to take shipments that were scheduled to move rose last week and is now 69% higher than the average in the third quarter, according to the logistics platform Transporeon.
"Uncertainty in the transport market" is increasing, especially on the France-to-U.K. route, said Transporeon Chief Executive Stephan Sieber.
6. The UK government is drawing up a plan to postpone new border checks on food imports from the European Union to reduce the risk of disruption to supplies this summer.
PM Johnson's officials are reviewing the timetable for introducing the paperwork rules, which are due to come into force from April 1, as he seeks to address what he called "teething problems" with Brexit.
7. The UK opens the door to SPACs, Big Tech IPOs to compete with New York: Government proposals to aim to help London retain its place as Europe's pre-eminent financial center post-Brexit.
According to an Aston University report, the United Kingdom lost market share in the United States, Germany, and China during the COVID-19 pandemic due to global trade chaos, Brexit, and low productivity Lloyd's Banking Group Centre for Business Prosperity.
8. 'Global Britain' woos ASEAN in fields of former empire: After nearly half a century as part of the European Union or its precursor, the European Economic Community, the UK fully exited the EU at the end of last year to once again seek independent engagement with the world.
But post-Brexit UK may have to wait out higher priorities for Southeast Asia.
9. China's new embassy could be a nest of spies: Roger Boyes writes Beijing's planned £1 billion HQ in London will probe weaknesses in British and western security.
"As part of the Five Eyes intelligence-sharing club and an enthusiast for the containment of China's expanding power, we have become an object of deep suspicion. The Golden Cameron-Osborne era of Sino-British friendship has melted down. The embassy's prime mission will be to spy on us."
10. Westminster polling intention:
CON: 45% (+4)
LAB: 32% (-4)
GRN: 7% (-)
LDEM: 6% (+1)
REFUK: 3% (-)
via @YouGov, 03 - 04 Mar
