Notes
on the L.A. World Affairs Council dinner-meeting August 25, 2016
LAWAC President and CEO Terry McCarthy
asked questions that were answered by:
UK Consul General Chris O’Connor
and Joe Brusuelas,
Chief Economist, RSM US LLP.
The focus of the discussion presentation
was on BREXIT and moving forward.
Many of the questions and solutions will
not be known immediately.
The enormity/complexity will be solved
within the two year timeframe.
It is way more than just the trading
block, but involves life changes as well.
There is a sense to get to the program
quickly—the UK government is going to win.
“We feel that’s what we’ve done. We know where we want to go.”
QUESTION: Tell about the transition to the Prime
Minister Theresa May.
The US has presidential election and new
administration takes office three months later.
By contrast, the Theresa May administration was in place four weeks
later.
Q/A:
With Article 50, there will be two years in transition.
There are three aspects: (1) The EU
agreement; (2) Trade with others;
and more subtly (3) Foreign policy and
security, including immigration.
[An immigration policy is yet to be
crafted, weighing politic vs economic issues.]
There are different trade models of
different nations—UK will design their own.
Q: About Scotland
A: PM May tells Scotland’s leader that
UK won’t sign until everyone is in agreement.
https://en.wikipedia.org/wiki/First_Minister_of_Scotland (Nicola Sturgeon)
With Ireland, there has been armed
smuggling across the border, a volatile challenge.
There will be more trust, and nobody
wants to go back to those days.
Have everyone around the table help
define border rules, technical or wheelbarrow.
Q/A:
The UK-US special relationship doesn’t change, nor should it.
“The UK will be a little more nimble in
foreign affairs.”
Q/A:
The UK government will design a model that will maximize free trade
w/borders.
Q/A:
For the UK, the EU block is their biggest trading partner, and should
continue.
There are British workers on the
European continent—will have appropriate regulation.
“We don’t want to stop.” With prioritization, it will be a mutual
decision.
We will continue to have a great deal of
movement, but controlled movement.
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