We need to talk about Brexit | FT Film

Summary

The transcript discusses the ongoing impact of Brexit on various sectors in the UK, highlighting the challenges faced by businesses and the political complexities surrounding the issue. It emphasizes the need for clear alignment with trading partners and the importance of economic growth post-Brexit. The narrative also touches on public sentiment, political strategies, and the potential for future renegotiations, all while underlining the criticality of addressing Brexit's consequences for the UK's economic and political landscape.

Takeaways

• 🌾 Brexit continues to create uncertainty in the agricultural sector, affecting long-term planning and support for farmers.
• 🚀 The UK's tech and life science sectors show promise despite the overall economic uncertainty post-Brexit.
• 📈 There is a general desire among the public and politicians to avoid reopening the 'Brexit can of worms' and focus on economic growth.
• 🤝 The UK is seeking to strengthen trade agreements with countries like Australia and New Zealand, although their impact on specific businesses varies.
• 🛃 Border frictions and regulatory divergences with the EU are causing challenges for UK businesses, particularly in terms of trade and movement of goods.
• 🏭 Brexit has led to a loss of growth for some businesses, like the pharmaceutical automation industry, due to changes in trade dynamics.
• 📊 Public sentiment towards Brexit is mixed, with some experiencing 'Bregret' or regret over the decision to leave the EU.
• 🗳️ The upcoming general election sees Brexit barely featuring on the political agenda, indicating a shift in focus towards other issues like the economy and health service.
• 📈 The UK government is trying to make Brexit work by pursuing trade deals and exploiting the freedoms gained from leaving the EU.
• 🌍 The UK's future relationship with the EU is crucial for business confidence and growth, with calls for pragmatic solutions to reduce trade barriers.

Q & A

What is the main concern of the speaker regarding the uncertainty in farming and businesses post-Brexit?

The speaker is primarily concerned about the lack of clarity on the future, particularly in terms of trade agreements and the impact on economic growth. They emphasize the need for closer alignment with trading partners and addressing the challenges that Brexit has introduced.

What was the speaker's stance on Brexit prior to the referendum?

The speaker voted to leave the EU during the referendum, but admits to having been naive about the level of difficulty that would follow.

What does the speaker believe should be the focus of political discussions?

The speaker believes that the focus should shift from Brexit itself to economic growth, making the most of the opportunities that Brexit presents.

How has Brexit affected the founder of 3P Innovation according to the transcript?

The founder of 3P Innovation reports that Brexit has resulted in the loss of about half of their growth, as they have a difficult time trading with the European Union, which was once their doorstep market.

What is the impact of Brexit on the UK's agricultural commodities trade?

The majority of the UK's agricultural commodities are still exported to Europe. Brexit has introduced additional challenges and frictions in this trade, such as the need for more paperwork and potential delays at the border.

What does the speaker suggest as a solution to the challenges faced by UK businesses post-Brexit?

The speaker suggests that the UK should move forward with an open mind, doing as much trade and cooperation as possible, and learning from European partners to address the challenges post-Brexit.

What was the speaker's role during the original Brexit referendum?

The speaker served as an adviser to David Cameron during the original Brexit referendum.

What is the current state of UK-EU trade relations according to the transcript?

The transcript suggests that while there is a tariff-free, quota-free trade deal with the EU, barriers to trade persist and the regulatory divergence continues, causing difficulties for various sectors including agriculture, creative industries, and manufacturing.

What is the speaker's view on the UK's future relationship with the EU?

The speaker advocates for a pragmatic approach, suggesting that the UK should consider aligning with certain EU regulations to reduce trade frictions and that the UK needs to have a sensible conversation about its future relationship with the EU.

What is the main sentiment towards Brexit expressed by the interviewees in the transcript?

The overall sentiment expressed by the interviewees is one of regret and concern. They acknowledge the difficulties and challenges Brexit has brought, such as increased bureaucracy and impact on trade, and express a desire for more open discussion and practical solutions.

What does the speaker suggest about the UK's future trade policy?

The speaker suggests that the idea of completely diverging from the EU's trade policy is a myth and that it would be counterproductive for the UK to compete against the EU on standards. Instead, they advocate for maintaining high standards and finding ways to align regulations where beneficial.