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Added on the 03/12/2020 10:09:08 - Copyright : Euronews EN
On Friday, Goldman Sachs predicted the UK's economy will grow 7% in 2021. The growth will be led by the coronavirus vaccine rollout and a Brexit trade deal. Over half of the country's population is expected to be immunized by March. Business Insider reports there will be a significant rebound in economic activity from the second quarter of next year. New trade restrictions are likely to weigh on potential growth in the coming years. Goldman said the drag will mostly be slow to materialize. UK GDP will end the year 11.7% under its pre-pandemic level, twice as much as Germany, France, and Italy.
The European Commission proposes a three-year delay on tariffs on electric vehicles that are sold to, or imported from, Britain that was due to apply from January. The commission, the EU's executive arm, says it decided a one-off extension after the automotive industry raised concerns about the massive costs that would arise from a post-Brexit 10-percent tariff. Maros Sefcovic, EU Commission Vice President, calls the proposal "balanced and forward-looking" which "supports the competitiveness of our industry and protect jobs in the European Union" SOUNDBITE
The National Rejoin March II kicks off in London, UK, in a protest calling for the UK to rejoin the European Union. The protestors met outside Hilton Hotel on Park Lane, near Hyde Park, before heading towards Pall Mall. IMAGES
European Commission President Ursula von der Leyen says the bloc will "fast-track" wind power installation permits as part of a broader "European Wind Power Package". SOUNDBITE
British Prime Minister Rishi Sunak announces deal with European Union to overhaul Northern Ireland Brexit protocol."Today's agreement delivers smooth flowing trade within the whole United Kingdom, protects Northern Ireland's place in our union and safeguards sovereignty for the people of Northern Ireland," he says. SOUNDBITE
British Prime Minister Rishi Sunak and European Commission president Ursula von der Leyen meet in Windsor, to conclude more than a year of negotiations over the "Northern Ireland Protocol". IMAGES