BAB Policy Update - April 2017
Welcome to our Policy Update
April has been a busy month for the Policy team at BritishAmerican Business, focusing mainly around the Brexit and UK-US Trade debates. Among others,
we have given direct input into the House of Commons Inquiry into the future of UK-US Trade, offered our members the opportunity to meet the Heads of
the US Senate Finance Committee and hosted two internal briefings, one with HMG on UK-US Trade and one on the European Court of Justice in the
context of Brexit.
Speaker Paul Ryan gives support to US-UK Trade Deal
The Speaker of the US House of Representatives visited London in April and spoke in favour of reaching a UK-US trade deal ‘as soon as possible’. At the
same time, Mr Speaker also said the US was hoping to continue to move forward on TTIP. The landmark trade deal had only recently been confined to the
“freezer” by EU Trade Commissioner Cecilia Malmström.
BAB hosts 100 Days event
Following on from the success of January's Pre-Inauguration event, this morning BAB held a 100 Days event, hosted by Aberdeen Asset Management.
Our expert panel consisted of; Lucy O'Carroll, Chief Economist Aberdeen Asset Management, Iain Anderson, Executive Chairman, Cicero Group, Dr
Walter Boettcher, Chief Economist UK/EMEA, Colliers International, Jeremy Cape, Partner, Squire Patton Boggs, Steven Klemencic, Director, PwC
and John Simmons, Minister Counselor for Commercial Affairs, US Embassy.
White House Tax Reform Plan
On Wednesday 26 April 2017, President Trump released his long-awaited tax reform plan which sticks largely to the plan he released during the campaign.
The White House insists it is just a blue print to begin negotiations with Congress and hopes to pass tax reform by the end of the year. Below outlines what
is different between the Trump plan and the existing tax code.
BAB Policy Group welcomes Senate Finance Committee Staff
On Thursday 13 April 2017, in collaboration with the US Embassy in London, the BAB Policy Group hosted Dr Jeffrey Wrase, Chief Economist of
the Senate Finance Committee and Jay Khosla, Policy Director for Senate Finance Committee. Group members informed Mr Wrase and Mr Khosla
about the impact on Brexit on the finance industry which was fed back to Senate Finance Committee Chair, Senator Orrin Hatch (R-UT).
BritishAmerican Business CEO featured in Bloomberg News
BritishAmerican Business CEO, Jeffries Briginshaw, was featured in Bloomberg News as part of their coverage into ideal post-Brexit arrangement
between the UK and the EU. Jeffries’ remarks at the House of Commons International Trade Select Committee were highlighted, in particular the
need for a strong relationship between the UK and the EU. At the Committee he said it was it’s essential for the U.K. to keep an open trade
relationship with the bloc, given U.S. companies’ dependence on Britain as an entree to the continent. Click here for the article.
Policy Group Briefing with with HMG on UK-US Trade
On Monday 3 April, the BAB Policy Group convened an informal briefing with HMG on UK-US Trade. Participants from Government and Business
discussed BAB's position paper 'Moving Forward' and the prospects of a UK-US Free Trade Agreement.
Submission to House of Commons Inquiry into future of UK-US Trade Relations
BAB submitted its full response to the House of Commons International Trade Select Committee's inquiry into the future of UK-US Trade. Building
on the appearance of BAB CEO, Jeffries Briginshaw, before the Committee, the full submission covered the sectors that a trade deal could improve
on and what an agreement could look like. You can read the submission by clicking here.
European Court of Justice in the Context of Brexit
On Tuesday 25 April BAB's Brexit Policy Group convened for a briefing on the European Court of Justice (ECJ) in the context of Brexit and how it
will play a part in the process. Attendees heard from Dr Davor Jancic, Lecturer in EU Law at Queen Mary's Law School, Vassilis Akriditis, Partner,
McGuireWoods LLP and Jacqueline Minor, former Head of Representation for the EU Commission to the UK. The informative briefing covered how
likely it will be for the UK to leave the ECJ jurisdiction and the ECJ's role in the future EU-UK relationship and what businesses need to be aware of.
A summary of the briefing is available here. The research paper put together by Dr Jancic in context of the BAB briefing is available here.