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Free AccessMNI: UK's Brexit Impact Studies To Be Released Within 3 Weeks
--UK Government Says Will Not Risk Negotiating Position
LONDON (MNI) - The UK government will release Brexit sector impact studies
within 3 weeks, Parliamentary Under-Secretary of State for Exiting the European
Union Steve Baker said Tuesday in response to an emergency question in the House
of Commons.
Amid accusations that the government are dragging their feet on the release of
the analysis, and that they could be purposefully stalling for time to alter the
information, Baker said that the government would not risk their negotiating
position and accused the Labour party of being unpatriotic in their demands.
"The information that we have includes commercially sensitive information, it
includes information which is material to our negotiating capital and it
includes advice to ministers," said Baker.
During the question session, Baker responded to calls from the Labour party that
the studies should be released in full, and calls from his own party that the
Brexit Select Committee should be furnished with the complete documents and they
will make the decision on what to release. He noted that it was in fact a member
of the Labour party who suggested that summaries or redacted versions be
released.
Baker asserted multiple times that the studies did not feature quantitative
forecasts on the impact of Brexit, but rather looked at how sectors of the
economy could potentially be affected.
"The analysis thus has been a wide mix of qualitative and quantitative analysis
contained in a range of documents developed at different times since the
referendum, it examines the nature of activities in the sectors how trade is
conducted with the EU currently in these sectors and in many cases considers the
alternative after we leave," Baker told MP's.
The comments from Baker follow a letter from Secretary of State for Exiting the
European Union David Davis to the head of the Exiting the European Union Select
Committee Hillary Benn on Monday, stating that the documents do not constitute a
"series of discrete impact assessments examining the quantitative impact of
Brexit on these sectors."
--MNI London Bureau; +44 203 865 3809; email: kieran.williams@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$B$$$,M$E$$$,MC$$$$,MGB$$$]
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.