Chancellor: Changes offering to norms of the Brexit deal

Chancellor: Changes offering to norms of the Brexit deal

Sajid Javid is a British Conservative Party politician who has served as Chancellor of the Exchequer since July 2019. He was previously Home Secretary from 2018 to 2019, and has served as Member of Parliament (MP) for Bromsgrove since 2010. Javid was the first British Asian to hold one of the Great Offices of State in the UK.

Chancellor Sajid Javid realizing that the conducts are going to be changed in regard of the Brexit deal. It will happen for all UK traders with the European Union (EU) in context of their customs processes and as a result of Brexit deal the Conservatives intend to announce that they should win the General Election.

Mr. Javid informing BBC about their trade with EU said, “When we trade with the EU there will be some changes but it also means there’s opportunities.”

Further elaborating about it he told them, “We will be able to strike our own free trade agreements around the world where we will have investments in free ports [special kind of port where normal tax and customs rules do not apply] so there’s a lot to look forward to.”

Mr. Javid said the government’s Brexit agreement was “a decent deal”.

He acknowledged that such a deal would strengthen their relations with European sector and in this regard he told, “It gives us a new economic partnership with our friends in Europe, and it allows us to have a deep free trade agreement with our European friends. We will have our own customs territory and the whole of the UK will leave the EU customs territory.”

While there has been much emphasis on new forms under a no-deal Brexit and on those essential within the UK between Great Britain and Northern Ireland, much less has been said or acknowledged about what would happen for the majority of cross channel trade under Boris Johnson’s Brexit deal. On Thursday, the Bank of England evaluated for the first time that the Johnson deal would lead to a small hit to the economy, due to new custom barriers.

Its assumptions were based on the introduction of “customs checks on UK-EU trade” alongside other supervisory checks and trade checks on the source of parts.

“As a result, trade movements are likely to decrease, and some companies might withdrawal the market,” the Bank wrote in its Monetary Policy Report.

When asked if a vote for the Conservatives is a vote for customs checks between the UK and EU, the Chancellor said it was a vote for a smooth exit from the EU, and to terminate the risk of a no-deal Brexit. Such notions would lead the change of the set customs of that deal and hopefully leading to robust outcomes as expected by the Chancellor, Mr. Sajid Javid.

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