Eu

The best thing to say about the UK kicking off preliminary trade talks with Australia is that they’re a start. In that they show Britain is looking to do business around the world, they’re a welcome signal in the wake of the vote for Brexit. Given that some have taken the referendum to be a sign of Britain slamming the door shut, any talk which counters this false narrative is refreshing. Yet there’s also a danger of overhyping the significance of such a deal. And it’s worth reminding ourselves that signing such an agreement won’t be the answer for all of Britain’s troubles. The statistics make it clear that a trade deal with Australia would

‘When the world ends, I’ll go to Mecklenburg,’ quipped Bismarck, ‘because there, everything happens a hundred years later.’ Mecklenburg-Vorpommern has always been seen as somewhere behind the times, but has this sleepy backwater now become a portent of momentous things to come? In last weekend’s regional elections, Germany’s fledgling anti-immigration party, Alternative für Deutschland, came second, pushing Angela Merkel’s CDU into third place – in her own constituency. So was AfD’s Leif-Erik Holm right to say that this could be the beginning of the end for Merkel? And does this shock result mark the end of the beginning for AfD? I have a soft spot for Mecklenburg (my father’s family used

David Davis has just finished his first statement to the Commons on the process for the UK exiting the European Union. Davis’s initial statement stuck closely to what the government has said already; the coordinated Labour backbench heckle of ‘waffle, waffle’ had some truth to it. But it was striking that Davis said he hoped the UK’s security relationship with the EU would be as close or closer post-Brexit; in Whitehall, Britain’s intelligence and military capabilities are regarded as one of our key assets in the negotiation. But in answer to the questions that followed, Davis–a naturally frank politician—gave a clearer sense of what he means by Brexit. In answer

Theresa May is on her way to her first G20 summit. But she has still sat down for the traditional start of term interview with Andrew Marr. Reading the transcript of it, it looks like a classic Theresa May interview: with very little given away. She avoided answering Marr’s questions on whether she would like to see more grammar schools and refused to say whether she shared her chief of staff Nick Timothy’s view that Chinese involvement in the Hinkley point nuclear project would be security risk. On Brexit, May said little new about the deal she would like to strike–confirming the sense that, as one Minister told me, the

It’s strange that, even now, the Brexit vote is routinely referred to as an expression of anger or frustration — as if the most easily baffled half of the population had voted in response to forces they could not understand. In fact, the result of the 23 June referendum seems to look wiser with every week that has passed. Of course, leaving has its risks. But 52 per cent of voters judged that a greater one lay in staying in a European Union that is changing all the time — and invariably for the worse. The British vision of the world — of free trade, friendly competition and respect for

Theresa May welcomed the Cabinet to Chequers with this address, just released by Number 10: ‘Thank you very much for coming together today. It’s our first opportunity to meet since the summer recess, but also the first opportunity for us to meet since the fantastic success of the GB Team at the Olympics – absolutely great. And also the Paralympics will be starting very soon, so we wish our Paralympic athletes all the very best and success there as well. But obviously over the summer – over the last few weeks – quite a lot of work has been done. We’re going to be having an opportunity today to discuss

So the European Commission has today released its much-delayed iTax. This time, it’s not an Apple innovation but a ruling ordering Ireland to claw back €13bn in back tax from Apple – a record penalty and one that the company and Ireland have both vowed to appeal. The Commission announced its decision in a typically terse ruling, in which they chuck rotten fruit at Ireland’s low corporate-tax environment. But whilst every one is talking about tax, this fracas between the EC and Ireland over Apple’s bill—what we here locally might call a ballyhoo—actually has less to do with one of the two inevitabilities of life, and much to do with the Commission’s Competition Commissioner, Margrethe Vestager. Vestager could barely

In the runup to the referendum, we heard repeated warnings that, whatever the outcome of the actual vote, the damage to the UK economy had been done. The Bank of England, whose governor has been accused of becoming something of a fellow traveller for Project Fear, warned in its Monetary Policy Committee meeting in March that: ‘There appears to be increased uncertainty surrounding the forthcoming referendum on UK membership of the European Union’. In April, the BoE was at it again, downgrading second-quarter growth from 0.5 per cent to 0.3 per cent. Warnings such as these risk of being self-fulfilling: if you talk about uncertainty, it’s hardly surprising that investors feel uncertain, creating a