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Brexit: UK to be poorer after EU exit, says report by UK government

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The Brexit plan proposed by Theresa May will be voted on December 11 in the British Parliament

The UK will be poorer than Brexit terms compare to a scenario in which the country followed in the European Union, according to a new analysis by the British Treasury.

Official data indicates that the British economy may fail to grow 3.9 percent in 15 years if Prime Minister Theresa May’s plans are followed, taking into account a scenario in which Brexit did not occur.

But if Brexit is run without a deal, Britain’s GDP may fail to grow by 9.3%, according to estimates.

The Bank of England has estimated that the British economy could shrink by 8% if there is no transitional period in Brexit and said the British currency, the pound, could lose a quarter of its value.

Since a referendum in the United Kingdom determined the European Union’s exit, Brexit in 2016, the British government and the European bloc began to discuss the terms of exit.

This month, May obtained the government’s endorsement for an agreement whereby Brexit would be phased in, with a transitional phase of 21 months and could be extended. Thus the British economy would have time to adapt to exit, and the UK and EU could negotiate a trade agreement before the full break.

For parliamentarian Philip Hammond, May’s agreement guarantees most of the economic benefits to follow in the EU

However, to be carried out, the plan needs to be approved by the British Parliament – at a time when May is politically fragile and many parliamentarians are unhappy with the negotiated terms. Voting is scheduled for 11 December.

“Our agreement is the best available for jobs and for the economy, which would allow us to honor the referendum and take advantage of Brexit’s opportunities,” said May, who is touring the country to defend the proposal.

It is not clear what will happen if the plan is not approved by Parliament. One possibility is that the UK will leave the European Union abruptly without any transitional rule.

But parliamentarians would have up to 21 days to draft an alternative to May’s proposal.

The plan has already been endorsed by leaders of the 27 EU countries and, in order to be effective, should also pass the European Parliament’s scrutiny – there, it is believed that it will be approved without difficulties.

What do the studies say?

Economic impacts of rupture with the European Union bring concern to British

The document assesses the potential effect of the proposals agreed in July by government ministers and which are the basis of the current proposal.

In this scenario, the economy would be 3.9% lower than if the United Kingdom were to remain in the European Union.

Independent analysts say 3.9 percent of GDP would be equivalent to about £ 100 billion per year through the 2030s.

The government report also looks at three other possible scenarios, including a Brexit without agreement, which would be the most shocking.

What is the political impact?

Former Secretary for Brexit David Davis contested the Treasury report. He says previous predictions from the agency have proved flawed.

Parliamentarian Philip Hammond of the Conservative Party said the proposed deal guarantees most of the economic benefits of remaining in the EU, and the political benefits of leaving the bloc.

Asked if the UK would be poorer with Mr May’s plan, he said: “The economy will be slightly smaller in the Prime Minister’s preferred version of the future partnership.”

But he said staying in the EU is not politically viable.

What about trade agreements?

Mr Bill Cash, also of the Conservative Party and opposed to staying in the EU, says Hammond ignores the potential benefits of leaving the EU. “And the trade agreements that can give us the greatest opportunities around the world if we can trade them?”

While it is part of the EU, the United Kingdom can not negotiate trade agreements on its own, only in block.

According to May’s plans, the UK may negotiate trade agreements soon after the scheduled day for Brexit (March 29, 2019), but will only be able to implement them after 21 months of transition.




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Man Slapped To Death For Allegedly Having Secret Affair

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A Zimbabwean man identified as Lucky Taonezvi from Murambinda has died after he was slapped by a man who identified as Takesure Urayayi who accused the former of having an affair with a married woman.

Naija News reports that Urayayi of Ngudu village under Chief Nyasha was in the company of one of his friends, Moses Kwarimba and were returning home after drinking beer at a local joint in the area when hen the now deceased, Lucky Taonezvi, approached them, confronted Urayayi and accused him of sleeping with a married woman.

Urayayi who seems to be tipsy as a result of the alcohol he had consumed with his friend, overreacted by releasing a slap against Taonezvi.

Upon receiving the slap, Taonezvi, went down slowly and gave up the ghost in about 50 seconds.

After realising and confirming that Taonezvi was dead, Urayayi humbly handed himself over to the Police.

While confirming the incident, the Assistant Inspector Chanada said; “Member of the public should desist from resolving their misunderstanding through violence. They should learn to resolve their disputes peacefully to avoid loss of life.”


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World

Address Us With Respect Or Else – Iran Warns US

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Notre Dame Cathedral Fire: What Trump Told Firefighters To Do

The U.S. has been warned against addressing the Islamic Republic of Iran with disrespect and threats of war.

Iran gave this warning, a day after U.S. President Donald Trump stoked concerns about a potential U.S.-Iran conflict.

On Sunday, Trump tweeted: “If Iran wants to fight, that will be the official end of Iran. Never threaten the U.S. again!”

But through his twitter account, the Iranian Foreign Minister, Mohammad Zarif replied “Never Threaten An Iranian. Try respect—it works!”

Zarif had earlier praised Trump for earlier remarks seen as cautioning hawks in his administration, who were encouraging conflict.

The President “rightly deplores ‘military-industrial complex’ pushing U.S. #ForeverWars,” Zarif wrote on Twitter.

But he said Trump had allowed a “B-team” of aides led by National Security Advisor John Bolton to “trash diplomacy”.

He accused them of “milking despotic butchers via massive arms sales”, an apparent reference to Iran’s main regional foe, Saudi Arabia, Washington’s biggest arms buyer.


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Comedian Zelensky Officially Inaugurated As Ukrainian President (Pictures)

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A 41-year-old comedian with no political experience , Volodymyr Zelensky, has officially been inaugurated as Ukraine’s president earlier today after winning a landslide election victory.

Naija News understands that the newly inaugurated president promised to protect the sovereignty and independence of Ukraine during the ceremony in parliament in Kiev.

“I pledge to protect the sovereignty and independence of Ukraine,”

Ukraine’s new president Zelensky announces the dissolution of parliament

He used his inaugural speech to announce that he is dissolving parliament, after wrangling with lawmakers in the lower house, in order to call early parliamentary elections, which had originally been scheduled for October.

“People must come to power who will serve the public,” Zelensky said.

Critics had questioned whether Zelensky would be able to govern without a parliamentary majority. Even setting a date for his inauguration took weeks of negotiations with hostile lawmakers, whom Zelensky exasperatedly called “petty crooks”.

He also vowed that his first task was to bring a ceasefire in the conflict with Moscow-backed separatists in eastern Ukraine that has so far caused some 13,000 deaths.

“We didn’t start this war but it is up to us to end it,” he said.

The separatist authorities have indicated that they could be ready to negotiate with Zelensky.

Dressed in a dark suit and tie, the president took a non-traditional route to his inauguration — walking on foot from his home nearby, after saying he wanted a less pompous ceremony.In a sign of his more informal style, he exchanged high fives with supporters waiting outside and took selfies with them.

 

So far little is known about his precise policies after a campaign that capitalized on public disillusionment with the political establishment and promised to “break the system”.

Uniquely for a first-time president, Zelensky had played the inauguration scene before — for laughs. He starred as a history teacher who was unexpectedly elected president in a television comedy series, “Servant of the People”.

Just a few months ago, the idea that Zelensky would be inaugurated for real seemed equally unlikely.

When the actor and comedian announced his candidacy on December 31, few took it seriously, but after an unprecedented campaign largely waged through social media, he won more than 73 percent in the second round on April 21, trouncing Poroshenko.

Poroshenko led Ukraine for five years, overseeing the fallout over Russia’s annexation of Crimea and the armed conflict in the country’s east.

While Poroshenko averted complete collapse and launched a series of key reforms he was widely criticised for failing to improve Ukrainians’ living standards or effectively fight all-pervasive corruption.


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