New: the U.K. is claiming victory over the EU in the Brexit talks. Let's take a closer look... 1/

.@EuroGuido has shared a `scorecard' of the negotiations, claiming Britain `won' 43% of the issues in the talks. EU won 17%, 40% were mutual compromise. Bear in mind, this is the British negotiating team marking its own work.. 2/ https://t.co/R4OitKqy3F
The key q is *how important* are the issues. Just tallying them up doesn't say much. If you won lots of small, low-impact areas, but lost in big areas important to your economy, that's what matters 3/
And at first glance, there are some important things missing for the UK. 1) No mutual recognition of conformity assessment. This means companies will have to pay to certify their products in both the UK and EU. Double regulation = double the cost 4/
We discussed the cost of bureaucracy duplication due to Brexit here 5/ https://t.co/VkBrwDZfM5
Also - no automatic recognition of professional qualifications. This is big for the services industry - 80% of UK economy - and means if you're an architect, accountant or consultant, it'll be harder for you to sell your services in the EU 6/
Financial services - ~7% of UK economy - is deemed an EU win. UK wanted something ambitious, covering new areas and with provisions on regulatory cooperation. But the end result is what we normally see in EU FTAs 7/
And some of the claimed `wins' don't accurately reflect the opening negotiating positions. The UK claims bilateral cumulation on rules of origin is a win - but its opening ask was actually more ambitious, it wanted diagonal cumulation 8/
To get up to speed on rules of origin and Brexit (it's critical to understanding how trade will work from 2021), we covered the issues here 9/ https://t.co/MS0jJu9EV2
The U.K. seems to have got what it wanted in removing any role for the ECJ, and it won't have to dynamically align with EU laws. So, good on the sovereignty account - but we still need to see the full text. Watch this space.. ends/ https://t.co/VWZRQ3hM6I

More from Brexit

Another head-banging day for the £112bn UK creative sector that is starting to ingest how difficult #Brexit is going to make their lives - and how little the government is really willing to do to fix the lack of a 'mobility' chapter in the EU-UK trade deal. Quick update.../1

First Equity @EquityUK put out a letter to @BorisJohnson warning that #brexit was a "towering hurdle" (you'd want Brian Blessed reading that part) to UK actors plying their trade in EU - a double whammy with #COVID19 /2

https://t.co/mXjTAISqZk


@BorisJohnson One third of Equity members say they've seen job ads asking for EU passport holders: "Before, we were able to travel to Europe visa-free. Now we have to pay hundreds of pounds, fill in form after form, and spend weeks waiting for approval" /3

@BorisJohnson Worth recalling that all this goes back to the UK desire NOT to have a 'mobility' provision within the TCA - all part of 'ending Free Movement' and the professional services folk - including musicians, actors, fashion models etc -are all victim of

@BorisJohnson What's the government going to do about all this? Good question, which brings us to todays @CommonsDCMS hearing in which the Culture Minister Caroline Dinenage @cj_dinenage frankly pin-balled around the issues /5

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