The #UK is predominately a #services economy, contributing 81% to the economy in 2019 & around 30m jobs.
Internationally, services are a UK success story they account for a higher proportion of our total exports than in countries like the #US & #Germany.
#London accounts for 42% of the UK’s service exports & the South East is the next largest contributor (17%)
The remaining 41% is divided between the other 10 #UK regions. In #NorthernIreland, #services account for 22% of its exports, with sales focused in #GB & #Ireland.
In regions, #towns and #cities whose economies have not done well in recent years, a large share of individuals work in #services in the public sector
But the UK’s lucrative business services sector is concentrated mainly in the UK’s cities and southern towns.
#Services are broad and diverse: they include IT and hairdressing, architecture and the arts, health services, education and financial services
The EU’s single market is the primary destination for #UK services exports. (The UK runs a trade surplus with the #EU in services.)
The sectors set to be hardest hit at the end of #transition are those that have used the single market to develop their export markets most intensively.
The largest category of #services exports is ‘other business services’, accounting for around 1/3 of all UK service exports.
The #EU single market enables greater cross border services trade than is typical of free trade agreements.
When the UK leaves the single market, services will be traded either on the basis of a new free trade agreement between the UK and the EU or without one.
There is no guarantee that a trade deal will be secured on #services given the distance between the sides
The #UK emphasises the need for its regulatory autonomy
The #EU insists on conditions to remove the risk it perceives of regulatory competition from the UK
Without a trade deal, #UK companies would face significant new barriers to doing business in the #EU.
But access to EU markets for UK services will be reduced and more precarious with or without a deal.
In financial services, for example, access will depend on an equivalence decision that could be withdrawn with 30 days’ notice.
The govt’s migration proposals may also lead to staff shortages in service sectors, many of which rely on workers who do not meet salary thresholds.
The #Covid19 crisis is likely to impact the services sector in ways that are not yet clear.
Some businesses have managed to operate through the restrictions, others have shut down.
Brexit will shape the post-Covid economy & will have significant regional and national impacts.
This is just a snapshot of the report and it is well worth your while reading the whole thing, which is here 🔻
Reflecting on lessons from elsewhere in Europe on how to achieve regional economic convergence, @thomasforth@ODILeeds@TheDataCity argues for a commitment to invest more in skills, transport, research and development & culture in cities across the UK👇👇
@michaelkenny_ & @TKelsey915 lay out the evidence that 'a top-down plan for place-based intervention, based upon bilateral negotiations with local areas, runs the risk of enforcing the priorities & orthodoxies of the centre'📝
@fiona_costello's research looks at the impact of Brexit on EU nationals in the UK, and how these problems are being resolved by community advice organisations.
Watch this to find out more ⬇⬇
As well as working as an academic, Fiona works with @GyrosOrg to help EU nationals access legal advice and support – allowing her to understand everyday problems facing EU nationals on the frontline.
.@simonjhix: "In the medium term, Brexit is a challenge to the EU. There will be a UK model of exit."
"At some point, the UK model will seem quite attractive, which could be politically very difficult for the EU."
.@HelenHet20: "The EU's reaction to #Brexit was primarily defensive, but there was an opportunity to face the euro-ins and euro-outs question head on."
"Instead, it was seen as a potential long-term threat to the EU's credibility."
.@BorisJohnson has said that no deal with the EU would be a “good outcome” for the UK.
This report highlights what it would mean in terms of trade, fisheries, connectivity, the impact on citizens, Northern Ireland, economics, security, foreign policy, politics and more.
On #trade, the two sides would revert to #WTO rules.
We’re talking tariffs, customs checks, and regulatory checks. In other words, increased hassle, increased time and increased costs for businesses trading with the EU.
. @jillongovt: "No deal now is not the same as last year because the financial settlement, citizens' rights and Northern Ireland were dealt with in the Withdrawal Agreement."