Beyond Brexit: U.K. seeks advice on trade strategy

Follow Us View In Browser Get the newsletter What's happening? The U.K. seeks to hire an outside adviser to spot post-Brexit opportunities, and Prime Minister Boris Johnson left the door open to a trade deal with Australia. Attention, trade nerds! The U.K. government is recruiting an external adviser to identify new opportunities created by leaving the European Union. It suggests ministers need new ideas. A task force set up to assess how Britain can re-shape its economy led by former Conservative Party leader Iain Duncan Smith has yet to make any suggestions publicly. David Frost, the minister in charge of the U.K.'s new relationship with the EU, says he has "high hopes of outside input." Europe's most valuable startup, the Swedish payments firm Klarna, is weighing a blockbuster listing. The U.K.'s stance on financial services regulation after Brexit will feed into Klarna's decision on where to go public. Britain's departure from the EU has created an "amazing opportunity" for London to be at the center of banking and fintech for the future, Chief Executive Officer Sebastian Siemiatkowski said in an interview. A Klarna app icon on a mobile phone. Photographer: Hollie Adams/Bloomberg Tariff-free access for Australian food imports may ruin U.K. farmers, Welsh and Scottish politicians warn. That hasn't stopped Johnson leaving open the prospect of a trade deal with the land Down Under. Australian Trade Minister Dan Tehan on Wednesday said negotiations were making "good progress." Johnson asked the Scottish National Party's Ian Blackford why he's "so frightened of free trade?"  Polluting will cost more for U.K. power plants and factories than it did under the EU's carbon market. Britain launched its own auction of emissions permits on Wednesday, replacing an almost identical EU program launched in 2005. It's the latest dilemma for the British government: how to lead on climate issues while ensuring its businesses can compete globally. Arch-critic of the Brexit deal Edwin Poots won the race to lead Northern Ireland's Democratic Unionist Party, succeeding Arlene Foster. He's pledged to step up a campaign against the protocol, which unionists see as weakening ties to the U.K. while making business harder. Previously, he's known for telling the BBC that he believed the Earth is about 6,000 years old and saying that nationalist areas of Northern Ireland suffer coronavirus transmission rates six times higher than unionist areas. — Lizzy Burden We aim to keep you up to date on how the U.K. navigates the world after Brexit. Got tips or feedback? Email us at brexit@bloomberg.net Chart of the Week London's skyline shifted toward high-rises 17 years ago with the completion of the tower known as the Gherkin. It was one of only four City buildings higher than St. Paul's Cathedral. That number could leap closer to 40 this decade with a spate of new planned skyscrapers with a building boom set to defy the pandemic shift toward working from home. The investment carries a warning for existing landlords: those returning to offices are looking for something new, not endless rows of desks. Don't Miss U.K. says EU should stop 'point-scoring' in Northern Ireland Half of firms had Brexit disruptions in the past year London's Canary Wharf is looking at a new future beyond banks Portugal lifts its Covid limits for U.K. tourists Boris Johnson fleshes 'levelling up' program for the U.K. U.K. inflation doubled as spending splurge starts Want to keep up? You can follow us @Brexit on Twitter, and listen to Bloomberg Westminster every weekday. Share Beyond Brexit: Colleagues, friends and family can sign up here. For full EU coverage, try the Brussels Edition. Get More From Bloomberg You can find all of our newsletters here, but here are some we think you'd particularly enjoy: Track trade and the global economy in Supply Lines Follow global politics news and analysis in Balance of Power Get daily insights on climate in the Green Daily Bloomberg is also tracking the progress of coronavirus vaccines and mapping the pandemic. Sign up here for our Coronavirus Daily newsletter and here for our podcast. Subscribe to Bloomberg.com for unlimited access to trusted, data-driven journalism and expert analysis.   Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. Learn more.   You received this message because you are subscribed to Bloomberg's Beyond Brexit newsletter. Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022