In a series of briefings, the Royal Society of Edinburgh argues that the Brexit process should minimise any adverse effects on business and the economy and maximise the economic opportunities that may flow from this process.
The paper highlights the issues that could arise from the repatriation of powers when the UK leaves the EU single market, and how the relationships between UK countries may be affected. The briefing aims to shed some light on topics that have so far received little attention, in the media and Westminster, that remain areas of particular importance to the business sector in the UK. These include public procurement, state aid, regional funds, debt accounting and tax powers.
- Significant change to policies in state aid, public procurement, debt accounting, regional aid and some aspects of fiscal policy following their return to the UK would lead to policy divergence between the UK and the EU.
- As many EU policies are already administered by the devolved administrations, the UK Government could maintain the balance of responsibility, or could choose to recoup a higher degree of power over some of the policies discussed.
- Non-tariff barriers are particularly salient for trade in services, which are extremely important for the service-dominated Scottish and UK economies.
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