Brexit impacts

As the political negotiations between the UK and EU unfold, Kennedys is here to keep you up to date on the latest Brexit developments and what they mean for you and your business.

  • 13 December 2018

    Brexit optimism on hold

    Theresa May’s optimism at reaching a deal on Brexit proved short-lived. Since the Prime Minister took her deal to Parliament at the end of November, she has been faced with overwhelming opposition on all sides.

    May’s Government lost three significant votes in the Commons, her anticipated TV debate was cancelled; she endured the reaction of postponing her meaningful Parliamentary vote on the Brexit Withdrawal Agreement, and has been told by Brussels that she must clarify what she wants out of talks. Having survived a vote of no confidence, she is though still standing.

    Read more here

  • 30 November 2018

    The reality of sealing the deal

    Brexit has taken one step closer to being concluded, but there remain significant hurdles ahead. Last weekend, the European Council officially concluded Article 50 negotiations with an endorsement of the Withdrawal Agreement and Political Declaration at an extraordinary Council meeting in Brussels. As expected, the meeting was largely a procedural affair, despite some last-minute posturing over lingering issues like fishing rights and Gibraltar.

    The political battle now begins at home for the Prime Minister

    The Cabinet, with Theresa May at the very forefront, have admitted the vote on the deal would be “challenging” but it now must make it clear to colleagues and to the country that “the choice is between this deal or the uncertainty that would flow if this deal does not go through”.

    Read more here

  • 12 November 2018

    Threats to exporters if no Brexit agreement is reached

    Brexit provides economic threats to exporters, with such things as higher tariffs, and stricter border checks and packaging regulations. In addition, are a number of uncertainties to the legal framework, such as what a no-deal Brexit (no-deal) would mean for key contractual terms in cross-border disputes, when the current laws that underpin their validity are predominantly EU law?

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  • 19 September 2018

    Mapping the Brexit storm - supply chain concerns post-Brexit

    In September 2018, at the Zero Emission Vehicle Summit in Birmingham, the Chief Executive of Jaguar Land Rover (JLR), Ralph Speth, raised fresh concerns around the continued operation of UK manufacturing plants after Brexit. In front of both the Prime Minister and members of the cabinet, Speth warned of the ‘tens of thousands’ of jobs at risk and the uncertainty of UK plants remaining in operation in the event the UK fails to reach an agreement with Brussels.

    Read more here

  • 30 August 2018

    Brexit White Paper: protecting the UK life sciences industry

    The UK government published its White Paper on 12 July 2018, setting out a future trading relationship with the EU, laying the foundation for the future.

    The government’s vision with regard to the life sciences industry offers some much needed reassurance to the sector. Indeed, the proposals appear to respond to the recommendations made to government by the House of Commons select committee on how to safeguard the industry from the impact of Brexit.

    Read more here

  • 9 August 2018

    Giving insurance a voice: Brexit ‘nightmare’ for industry unless government breaks political deadlock

    We are delighted to introduce our latest report - Brexit and the insurance sector: Towards 2020 and beyond - as part of Kennedys’ ongoing commitment to providing key business insights on Brexit and how it is likely to impact on the UK’s insurance sector.

    Read more here

  • 30 January 2018

    EU motor law: the impact of Brexit for the UK

    Britain’s motor industry is a ‘star performer’ of the UK economy. Its reported turnover was a record £71.6 billion in 2015. Accepting the benefit that membership of the European Union (EU) has allowed, the industry is understandably nervous about the potential effects of the UK leaving the EU, including big-ticket issues such as exports and attracting and retaining EU talent.

    Against the background of uncertainty over future trading relations with the remaining Member States - that may hit inward investment in the motor industry in the UK - we reflect on the key challenges and issues that lie ahead.

    Read more here

  • 4 May 2017

    Belgium bound? What does Lloyd’s proposed subsidiary in Brussels mean for London?

    The day after Prime Minister Theresa May triggered Article 50 to begin the Brexit process, Lloyd’s of London confirmed its plans to open a new European insurance subsidiary in Brussels.

    Whilst Lloyd’s already has a number of offices in the EU and the European Economic Area (EEA) states, and indeed globally, the move to open a subsidiary in Brussels may indicate a shift of focus from the UK following Brexit.

    Read more here

  • 7 October 2016

    EU air law: the impact of Brexit for the UK

    The single air transport market is seen as one of the greatest achievements of the European Union. It has reduced fares for consumers and increased passenger numbers, whilst ensuring passenger safety, security and consumer protection. It has also created an EU vehicle through which current and future air transport relationships with non-EU countries are defined.

    We review the challenges ahead, in particular those relating to market access, and consider potential alternatives to the current EU single air transport market.

    Read more here

  • 26 September 2016

    Brexit and securing the passport

    For insurers operating in London or the UK, as part of a wider European business strategy, the passporting implications of Brexit are significant.

    Insurers need to understand what the implications are for their business either losing or maintaining passporting rights from the UK into the EEA (and vice versa). They need to consider how they can best structure their businesses to preserve passporting rights within the EEA, if that is important to them. Finally, they need to consider whether they can afford to wait before acting, given the uncertainties surrounding what the UK’s eventual access to the single market will be and how long that will take to be established.

    Read more here

  • 27 May 2016

    Brexit: the insurers speak

    In preparing our insights report on the EU Referendum, we undertook a series of in-depth interviews with senior executives in the insurance sector.

    Read the executive summary of our report, and download the full report here.

Brexit focus area