Final countdown for a Brexit trade deal
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 2 October 2020
⏱️ 18 minutes
🧾️ Download transcript
Summary
Why state aid may be the sticking point for a Brexit trade deal
(Image: Two boxing gloves punching each other, one with the UK flag, one with the EU flag. Credit: Getty Images Stock)
Transcript
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| 0:00.0 | Hi there, I'm Ed Butler. Welcome to Business Daily from the BBC. Coming up, state aid, |
| 0:06.8 | a rather technical issue that's stopping Brussels from reaching a Brexit trade deal with London. |
| 0:12.7 | It fears the UK running a very different economic model, a kind of so-called Singapore-on-Thames model. |
| 0:18.1 | It fears unfair competition from the UK. So today we're looking at state aid, |
| 0:23.5 | an idea as old and as frequently discredited as socialism itself, some say, although it seems |
| 0:30.2 | to be making a comeback. We ought to be having state aid to try to create the economy the future. |
| 0:35.4 | We ought to have state aid to facilitate a green |
| 0:39.1 | transition to help us move towards a more knowledge-based economy. Assessing the winds of economic |
| 0:45.2 | change, that's Business Daily from the BBC. Talks on an EU-UK trade deal seem to be in the balance, we're told. Just weeks left till an all-important Brexit trade deal needs to be struck and then ratified by parliaments before the end of the year deadline. |
| 1:04.6 | Failure, a no-deal settlement. It could have wider repercussions, not just in Europe but globally. So what is holding the whole thing up? |
| 1:12.7 | Well, we understand it's the question of fisheries, specifically, but also most importantly state aid, |
| 1:19.7 | the freedom of government to give financial support to its struggling companies. For many, |
| 1:25.4 | this seems like an odd one. The UK, after all, is run by Conservatives, |
| 1:29.3 | the party which gave us the free market thinking of Margaret Thatcher. Firms should sink or swim, |
| 1:34.5 | she believed. Politicians should not pick winners. We'll have more on all of that in a bit. |
| 1:39.8 | But first, here's Paul Moss, reporting on why state aid has become such a talking point around |
| 1:45.4 | the Brexit cliff edge. |
| 1:49.1 | It was nice to visit a business doing well for a change, despite the ravages of coronavirus. |
| 1:55.4 | At the office of rated people, they've been signing up a record number of clients recently, |
| 2:00.7 | plumbers, electricians, |
| 2:02.3 | all kinds of tradespeople, keen to be featured on the company's website. |
| 2:06.2 | You're looking at an average price, so your job leads are starting from yourselves from four |
... |
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