Brexit: Lord Adonis says UK ‘could rejoin the EU’
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Britain severed all ties with the European Union at the end of last year after signing an 11th hour post-Brexit trade deal following several months of intense negotiations. Despite that, Lord Adonis has continued to be a fierce critic of Brexit, and has even launched a campaign for Britain to one day rejoin the EU. Back in February – six weeks after Brexit – the Labour peer retweeted an article that said London had been overtaken by Amsterdam as the top share trading hub in Europe.
He captioned it: “Brexit, month 2.”
This month, Julian Jessop, Economics Fellow at the Institute of Economic Affairs think tank, tweeted an article that said London has now reclaimed its top share trading crown from Amsterdam.
He pointedly captioned his post: “Brexit, month 7.”
House of Commons Leader Mr Rees-Mogg then wrote in reply: “Taking back control is successful.”
The latest boost for Brexit Britain comes with the UK’s capital share of the European market rising steadily in recent months, thanks largely to the resumption of UK trading in Swiss stocks.
Following Brexit, Swiss equities were reintroduced in London in what was the first major split from Brussels policy on financial services.
Last month, an average of €8.9bn of share deals changed hands every day on London-based exchanges and trading venues, beating the €8.8bn on Dutch venues, according to data from Cboe Global Markets.
This marked the first time London had been the most attractive destination in this field since the Brexit saw the UK leave the EU’s single market in January.
During the first half of this year, London was the busiest exchange for capital raisings outside the US and greater China.
The capital raised more than £27billion – the largest amount in seven years – and significantly outstripping totals on exchanges in Frankfurt, Amsterdam and Paris.
Activity has been boosted following the listings of 49 companies, including Deliveroo, Darktrace and Alphawave.
Separately, Lord Adonis was dealt a major blow last week after it was revealed only a small minority of Brits have any desire for the UK to re-join the EU.
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A new poll by Opinium found just over a quarter (27 percent) of Britons want the UK to rejoin the Brussels bloc, compared to 22 percent who want to “stay out and get more distant”
It also found a fifth of people (20 percent) either agree with the statement “stay out but get closer” or “stay as we are”.
The poll questioned 2,000 UK adults between June 23 and 25.
Academic Matt Goodwin tweeted: “Only 52 percent Remainers want to Rejoin, reflecting how Rejoinerism lacks mass enthusiasm/big chunk of pragmatic Remainers.
“Only 27 percent of 18-34s say Re-Join, reflecting how Rejoinerism is not generational raison d’etre for Zoomers.”
The poll results came after Lord Adonis has marked the fifth anniversary of the historic Brexit referendum to again demand the UK rejoin the EU.
The Labour peer raged Brexit had left the UK “diminished, divided and devalued” and going in the “wrong direction”.
He tweeted: “All the wrong people are in charge, leading in the wrong direction.
“Step by step towards Rejoin is the way back.”
The chair of the pro-EU group European Movement also claimed the UK could rejoin the EU in this generation.
Writing for the Independent, he said: “Were it not for Covid-19, and the success of the British vaccination programme while the European Commission initially flailed, I suspect British politics would today be overwhelmed by Brexit.
“Once we are post-Covid, the fact that Brexit is so obviously unstable and unviable will reassert itself.
“In my view, Brexit almost certainly won’t last in this extreme form and may well be reversed entirely in this generation.”
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