Auto Amazon Links: No products found. Blocked by captcha.
The business secretary’s briefing commenced swiftly, with Jonathan Reynolds portraying it as a noteworthy example of the government’s efforts to enhance living standards. It is evident that ministers are keen to emphasize this agreement with Delhi, particularly in light of the political pressures they are facing domestically. A group of Labour MPs known as the Red Wall Group, representing constituencies in the north of England and the Midlands, have publicly criticized the government, especially regarding the removal of the Winter Fuel Payment from pensioners following recent elections.
Jonathan Reynolds is keen to highlight the potential “tangible benefits” of facilitating trade between the fifth and sixth largest economies globally, emphasizing that regions like the north of England, the Midlands, and Scotland would reap the primary economic rewards. However, it is important to note that this moment marks the conclusion of discussions, not the finalization of the deal. Extensive scrutiny of numerous pages of text and detailed analysis is still required before any agreement is reached. Prime Minister’s mention of an upcoming visit to India indicates that it could be up to a year before the deal is finalized.
The focus of domestic political reactions to this deal has centered on an aspect that exempts Indian workers and their employers from paying UK national insurance for the first three years of their stay. Critics, such as Reform UK leader Nigel Farage, have labeled this provision as “taxing British workers more, taxing Indian workers less.” While some Conservative officials, like Sir Oliver Dowden, have welcomed this feature, others, including former business secretary Kemi Badenoch, have expressed their reservations about it. The agreement is seen as a crucial element that India insisted on, despite the differing opinions within the Conservative Party regarding its implications.
In the broader context, this deal takes place amidst the backdrop of ongoing trade negotiations with the United States and the European Union, particularly in light of the tariffs imposed by former President Trump. Progress is anticipated in upcoming discussions, with a summit scheduled with the EU later in the month. Additionally, Sir Keir Starmer, who opposed Brexit and campaigned for a second referendum, now finds himself as the first post-Brexit British prime minister. This positions him to navigate the challenges and advantages presented by the UK’s departure from the EU, along with the ensuing trade negotiations and policy decisions
Read the full article from The BBC here: Read More
Auto Amazon Links: No products found. Blocked by captcha.