Inline Insights

A key area impacting UK nationals abroad and EU nationals in the UK are the rights they will be likely to receive once the UK exits the European Union in 2019. There is still a lot of uncertainty over what these rights will be, but an inevitability is that nothing is cast in stone until final treaty is signed in March 2019.

To a rather muted fanfare, the British Government published its industrial strategy green paper last month. As far as the energy and climate change audience were concerned, in the run-up to the publication of the strategy, the Business Energy and Industrial Strategy Department (BEIS) – a department still in its infancy - was essentially facing two challenges:

The clamour for clarity from the Government on its Brexit intentions has finally produced two important announcements from the Prime Minister and senior Cabinet Ministers at the Conservative Party Conference in Birmingham: 

In July, the Financial Conduct Authority (FCA) – the body that regulates loan-based and investment-based crowdfunding in the UK – launched a ‘call for input’ on the current rules applied to crowdfunding in the UK.

The concept of energy storage is not new. However, technology advancements and the increased sense of urgency in relation to decarbonisation have gradually drawn attention to the possibilities of storage.

Natural capital — a term for the earth’s natural resources and support systems that benefit human society — is the underlying focus of our environmental laws and policies. The Clean Air and (Clean) Water Acts of the US and UK are two aptly-named examples of previous policies designed to protect natural resources.

Some of the UK political instability following the EU Referendum in June is beginning to dissipate. A new Prime Minister, reshuffled Ministerial teams, and reshaped Government machinery are in place. A timetable of sorts for the next steps is beginning to form, ie. no triggering of Article 50 to commence the departure negotiations, during this calendar year, but likely early in 2017. What is still concealed in opacity is any inkling of what the UK position might be in the parallel discussions on a future economic and co-operative relationship with the EU. 

More than a week on from the UK’s decision to leave the EU, the political vacuum at the top of both main UK political parties means that the country’s policy priorities and future direction remain unclear. However, against an uncertain background, some potential implications for the Tech sector can be foreseen:

Events have moved very quickly over the weekend, and the timeline for events post the UK referendum on the EU is becoming clearer, if not yet the future scope of UK-EU relations or the eventual implications for politics, economy and business.

In the run-up to last Thursday’s EU referendum, policy direction, announcements and news flow dried up as the politicians became increasingly consumed with the debate. Following the tumultuous decision taken by the British people, this piece considers the in-tray that the Government - above all, DECC, but in addition other parts of Whitehall - needs to return to on energy and climate matters.

Last week’s Competition and Markets Authority (CMA) set of interim recommendations on the UK retail banking sector represents the culmination of nearly two years work from the new competition regulator analysing plans for structural, market, and anti-trust reform of the industry. It is important to remember the political context which gave rise to the enquiry. 

One of the Government’s themes for the Queen’s Speech for the 2016-17 Parliamentary session is improving life chances for the British people. Through the measures on the digital economy, transport and infrastructure, the Government’s intention is to make long-term social and economic reforms the focus of the remainder of this Parliament. Whether in practice that will happen with the aftermath of the European Referendum likely to hang over UK politics for several years, and darkening economic stormclouds gathering over the economy in terms of weaker performance on growth, exports, the current account deficit and productivity, remains to be seen.

One of the key policy responses to the financial crisis which led to the Great Recession was the subsequent action taken by EU Heads of Government through the European Council in June 2009 to strengthen the regulatory system governing all financial services providers within the Single Market area. In establishing a new European Banking Authority (EBA), within a European System of Financial Supervisors, which could take decisions on the basis of majority voting, member states also adopted a trio of regulations applicable throughout the Single Market – known together as the Single Rulebook.

In most parts of the world, the Millennial Generation has more personal and economic freedom than any which preceded it, but is also facing a squeeze on wealth and assets not experienced in the last 70 years. The UK Government’s Social Mobility and Child Poverty Commission considers that social mobility is in danger of going into reverse in some areas of the UK, and that inequality of assets between generations could worsen matters. 

Referendums are transformative events. Governments may come and go, but a decision to stay in or leave an economic union like the EU is an irrevocable judgement on the nation’s destiny – the most important decision in the lifetimes of voters in the UK. The implications will affect everything from the regulation of the air we breathe to the pensions we invest in. For the financial services sector, the general investment climate in the UK, as well as the contours of central bank policy on the equity banks must retain as capital buffers will be shaped by the outcome on June 23.

2015 was a significant year for climate and energy policy and markets: from the momentous Paris agreement to Obama’s continuing push on the Clean Power Plan; from the new British Government’s fresh (and controversial) energy approach to, at last, some stability for the EU Emissions Trading System (ETS), which may have real implications for the longer-term.

According to recent research by management consultancy A.T. Kearney, the global market for 3D printing is set to grow from $4.5 billion today to $17.2 billion by 2020. With this rapid growth will come added scrutiny from policy makers and regulators. To support its long term growth, and for the industry to fulfil its remarkable potential, a supportive regulatory and policy framework will be critical. To help build this framework, and to put in place policies that will stimulate industry growth and accelerate the uptake of 3D printing technology across the economy, it will be imperative for industry associations to play their part and to engage with key policy makers and regulators.

Politicians have shown they are serious - to achieve a positive outcome, the negotiators need to do the same.

For those not acquainted with the international negotiations on climate change - perhaps even more so for those who have that first-hand experience - they are at best an irritant, at worst a pointless relevance. Since the UNFCCC^[1] process began in the early 1990s after the international community agreed that “dangerous” climate change should be addressed, negotiators have gathered year after year in different parts of the world to discuss how the international community can take action to mitigate the climate problem and how the most seriously affected regions (usually in poorer countries) can adapt to the changes brought about by the steady increase in atmospheric and sea temperatures.

The EU Emissions Trading Scheme (ETS), the EU’s flagship climate policy instrument aimed at reducing greenhouse gas emissions at least economic cost and incentivising investment in the low-carbon economy, has been back in the news - for once in a positive sense.

In a speech at the European Parliament plenary debate on Monday 6^th July, First Vice-President of the European Commission, Frans Timmermans, said that the Commission “remains strongly committed” to present a circular economy package towards the end of this year.  The reasons are quite simple: Vice-President Katainen, Commissioner Vella, Commissioner Bienkowska, and others, essentially believe that the new circular economy package can bring: