The UK Government is planning new legislation that could allow it to adopt some future EU single market rules without a full Commons vote, applying secondary legislation.
The shift is part of wider efforts to align with new European regulations in areas such as food standards.
A Labour source notified the BBC: “It will lower costs for businesses and receive rid of the Brexit paperwork tax that adds to the cost of the weekly shop.”
The government stated the plans would assist deliver a food and drink trade deal worth £5.1bn a year while cutting red tape for farmers, producers and businesses.
Opposition parties criticised the proposals. Shadow business secretary Andrew Griffith stated Parliament would be “reduced to a spectator while Brussels sets the terms”.
Nigel Farage stated Reform would oppose the legislation “every step of the way”, calling it “a backdoor attempt to drag Britain back under European Union control.”
A UK-EU summit is expected later this year, with Keir Starmer stateing it would be “more ambitious”.
FSTE100
The UK’s flagship share index, the FTSE 100, was down 53-points at 10,546 shortly after opening this morning.
Brent crude oil futures were trading at at $101.91 a barrel, up nearly 7%.
Companies reporting
- Sirius Real Estate – Full Year Trading Statement
Leave a Reply