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The SA Daily 11 October 2019

Brexit barometer up a bit

Shireen Darmalingam

  • Positive sentiment around recent Brexit talks has seen the Brexit barometer/bliss index up a bit, but still being stuck in negative territory. The index has been below zero this year due to the persistent uncertainty around Brexit. This index reflects how the UK economy is responding to the Brexit process; it factors in inflation, employment, economic growth, and uncertainty.
  • The supposed Brexit deadline is 31 October; British and Irish officials met again yesterday to try and break the impasse, with discussions centred on the contentious Northern Irish border, an ongoing sticking point. PM Johnson has said that his new proposals would provide a new way to avoid a hard Irish border.
  • Indeed, PM Johnson and Irish Premier Leo Varadkar have made some progress recently, indicating a potential deal on the cards before the 31st. Still, the customs issue remains one of the biggest hurdles to reaching a deal. The EU insists that Northern Ireland remain inside the EU customs, while the UK is adamant that Northern Ireland remain part of UK customs. Johnson has however proposed limited customs inspections away from the frontier, which marks a significant change in attitude. The EU Summit in Brussels is due next week 17-18 October.

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