- EU eyeing Brexit divorce draft by mid-2018 with €40 billion ($43 billion) to €60 billion bill, says the FT. The exit bill would include unpaid budget obligations, pension liabilities, loan guarantees and project spending
- U.K. denies Times report that Brexit is swamping government. Times cites leaked memo that also says Cabinet splits may delay decision-making
- EasyJet CEO says airline will remain headquartered in U.K. and set up a European operating company
- May calls on U.K. to show capitalism “works for everyone”
- Europe’s financial hubs parade on Frankfurt “catwalk”
- French regulator says London transfers won’t be to just one city
- U.K.’s Davis says seeking liberal access to EU aviation markets
- Trump is no cure for Brexit’s $82 billion investment gap: Bloomberg Gadfly
- Merkel faces dilemma as Trump risks U.S. role as global leader. Says U.K. must be clear what exit it wants.
Brexit Bulletin: Who Will Build Britain’s Future?
By: Simon Kennedy | Nov 15 2016 at 06:29 AM | International Trade
The wishlist for the U.K. government is pretty long and ranges from a new high-speed rail line to a giant nuclear plant and a third airport runway.
The problem, as Bloomberg’s Thomas Seal writes today, is that such infrastructure projects almost certainly need foreign labor, and Brexit risks imperiling the supply of that.
Phone company BT Group and builder Balfour Beatty are already warning of a shortage of qualified workers falling between the low-skilled baristas and highly-paid bankers who are the most conspicuous symbols of the U.K.’s surge in immigration.
The U.K. “is less attractive to talented people already,” Sevcon Chief Executive Officer Matt Boyle said. “It’s becoming a problem getting people here for interview.”
Sky News reported U.K. Chancellor of the Exchequer Philip Hammond may next week outline plans to spend up to £15 billion ($19 billion) on small-scale infrastructure projects. The Financial Times said he’s considering issuing infrastructure bonds to raise money.
Brexit Bullets