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George Peretz QC🏴󠁧󠁢󠁥󠁮󠁧󠁿🏴󠁧󠁢󠁷󠁬󠁳󠁿BL🇮🇪 @GeorgePeretzQC
, 6 tweets, 2 min read Read on Twitter
In a piece the other week prospectmagazine.co.uk/economics-and-…, I pointed out that, as domestic State aid regulator, @CMAgovUK would not be given powers to strike down Acts of Parliament denied to the Stuart Kings.
See
But hang on: see Art 9(3) of Annex 4 to the NI/U.K. customs union protocol, dealing with level playing field provisions/State aid. The “independent authority” is @CMAgovUK.
The powers of the Commission include power to order the disapplication of statutory provisions granting State aid (eg a crude tax break for widget manufacturers).
So, to be a bit provocative, @CMAgovUK is going to be given powers denied to the Stuart Kings.
See also the power of the U.K. courts to do the same (Art 11).
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Not happy phrasing by @EvanHD.
The interview was disappointing (and as @StevePeers points out there was plenty of good stuff on Twitter with which to knock gaping holes in the 30 “truths”).
I appreciate that time is limited. But trying to get a seasoned operator like Lilley to criticise Gove wasted time.
Read 3 tweets
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As said at the front, I helped with the legal aspects of this report.
Like all the choices that the U.K. has in front of it, an EEA/EFTA type arrangement involves trade-offs and political judgment about priorities. Views may fairly differ (and differ profoundly) about those.
Moreover, any way forward is going to be a second- or third- best option for many. It’s no use refusing to look at your second choice option because it’s not your first.
Read 6 tweets
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David is being generous about point 26 of the Lilley list of 30 “truths” about “no deal”.
In some areas it’s hard to see how the U.K. could continue to export food more than trivially to the EU on a “no deal”.
See Welsh lamb exports.
Read 4 tweets

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Because it's Christmas, I've written a no deal preparation notice for Father Christmas.

prospectmagazine.co.uk/economics-and-…
Merry Christmas!
As now being reported by the reputable news website @newsthump.

Read 3 tweets
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The stand off between @EU_Commission and the Italian government on its fiscal stance is so intractable because it tests and threatens Europe's identity, the core sense of what European leaders believe they stand for: frugality and discipline. prospectmagazine.co.uk/economics-and-…. @prospect_uk
The frugality identity runs deep. @SenatoreMonti said in January 2012, the "precious" German virtues of fiscal discipline have been "marvellously exported." ft.com/content/4385a5….
Those virtues are embodied in the fiscal rules. Chancellor Merkel calls them the guard rails.
@pierremoscovici echoes Merkel's language. Its all about framing. The eurozone, he says, is a condominium. He, as administrator, must enforce rules so no one touches the supporting walls. .

But, of course, as Romano Prodi insisted , the rules are stupid.
Read 10 tweets
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Apparently part of my 'twitter duty' is to point out the shortcomings in articles about future UK trade policy, so reporting once again to have a little poke around the case for CPTPP made by an IEA staffer... 1/ cityam.com/265469/going-p…
To begin with the first sentence is welcome, but I'd want to see serious evidence for the second paragraph - is CPTPP better than EU-Japan for the UK - and that matters as there are already EU trade deals with many CPTPP members 2/
CPTPP allows us to cumulate origin, which means you qualify for preferential rates not just on your own but with other country produce. Good, but how likely is it that the UK will be significant players in Pacific supply chains? Less likely than being in European ones 3/
Read 7 tweets
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Another Brexit story in the news this morning concerns the Japanese PM Abe welcoming UK intention to join TPP. Here's what I wrote last month on TPP - it involves signing up to someone else's rules to show UK good intent... prospectmagazine.co.uk/economics-and-…
TPP rules would mean we finally settle the chlorinated chicken argument in favour of the US, and the NHS has to be open to challenge on the setting of drug prices, but the UK would show a greater respect for the global economic rules than certain others...
On TPP another factor is that the EU already has deals with most of the countries which the UK hopes to replicate. So it really is mostly about the UK's place in the world and some big policy questions - the economic gain isn't likely to be huge
Read 4 tweets
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I did a quick explainer for @prospect_uk on how #Brexit may affect #VAT, both domestically and in relation to EU-UK trade. Quick thread on some of the key points: prospectmagazine.co.uk/economics-and-…
1/ The UK, like all other EU member states, currently is part of the common EU VAT area. While the EU does not prescribe exact VAT rates, it put in place certain guidelines, e.g. a minimum standard rate of 15%, or limits on granting of reduced rates and exemptions.
2/ Leaving the EU presumably means leaving its VAT area (Monaco currently only non-EU state that is a member). This would have a range of serious implications, both positive and negative.

(Though some trade experts expect EU would offer UK continued membership, if asked.)
Read 10 tweets
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David Davis up in the Commons for Brexit questions parliamentlive.tv/Event/Index/ae…
"We made important progress..." Labour benches start laughing.
(BTW will be commenting using these threaded tweets, so mute the first one now if you want to avoid an unspeakable load of hogwash)
Read 89 tweets

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