Fri, 01 Jan 2021 06:58 UTC
A meeting on moving more areas into Tier 4 is taking place this morningThe two camps are split over whether to balance the books and pay off the coronavirus debt quickly with tax rises and austerity or to cut taxes and hope for a longer term solution with economic growth. A source close to the Prime Minister has told the
Sunday Express that there is little room for manoeuvre and that the
coronavirus bailout packages and impact on the economy mean the public finances are shot . The source suggested that there may be little choice but to raise taxes to start paying off the public debt.
Victoria Hewson, a trade expert at the highly influential Institute of Economic Affairs, pushed for the UK to join the Pacific nations’ trading group – technically known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) – which in 2018 accounted for 13 percent of global GDP.
She said: “I think we definitely should be pursuing that. That’s absolutely vital.
“That should be a real priority because that would really open up huge markets and show a real level of ambition. Signing up to a trans-Pacific partnership from our little perch on the edge of the Atlantic would be a fantastic symbol as well as a really substantive pro-free trade move.”
In an exclusive message to our readers, Liz Truss said: After taking back control of our trade policy last year, we have worked flat out to strike agreements with likeminded allies to support the best of British business and cement our status as a global services and technology hub. While we were not able to unleash the full potential of our innovators in the past, we are now championing the industries of the future with innovation-loving nations like Japan and Singapore. And we are working towards gold-standard deals with allies such as the US and Australia. Meanwhile, we have made big strides towards joining perhaps the most vibrant trading area on Earth – the Comprehensive and Progressive Trans-Pacific Partnership.
UK to Restrict Promotion of Foods High in Fat, Salt, and Sugar
The UK government said on Monday that it will place restrictions on the promotion of food and drinks high in fat, salt, and sugar from April 2022.
Under the new rules, retailers will be prohibited from offering multi-buy deals such as “buy one get one free” or “3 for 2” offers on such foods.
From April 2022, we will restrict promotions on food and drinks high in fat, salt or sugar in shops to make healthier choices easier.
This includes:
▶️ stopping in-store promotions in key areas and online
Details Department of Health and Social Care (@DHSCgovuk) December 28, 2020
China Wins, US Loses In New Regional Trade Deal
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December 10, 2020
China came out the biggest beneficiary of the Regional Comprehensive Economic Partnership (RCEP), the world’s newest and biggest regional trade deal. It was signed by 15 countries in the Asia-Pacific region on November 15, following negotiations that started during the 2012 Association of Southeast Asian Nations (ASEAN) Summit in Cambodia.
While China already has a number of bilateral trade agreements, this is the first time it has signed on to a regional multilateral trade pact. The RCEP includes 10 member states from ASEAN, as well as Australia, China, Japan, New Zealand and South Korea. India withdrew from the negotiations in November 2019 after six years of talks, citing concerns over opening its agricultural and manufacturing sectors.