Local businesses & hard Brexit.
An article in the Gib Chronicle this morning states; When it comes to planning for a hard Brexit, many local businesses quickly hit a hurdle that is hard to overcome: no one knows what shape or form a no-deal Brexit will take. Faced with that uncertainty, businessmen acknowledge that putting preparations into place to deal with any potential fallout is a difficult task.
This maybe true but I venture the impact will be felt much more in the Financial Sector, the powerhouse that generates the income for the very folks here at home that spend their money in the shops and restaurants in town. We will still have our tourists, they are not bound by any EU law coming from the U.S., China, Australia in fact you name a country and a cruise ship brings them to our shores. You and I will still spend our morning taking coffee reading the paper, the buses will still be free as will a myriad of other things we take for granted each of which leave us free to eat out at the incredible amount of eateries we have for such a small country. Will it mean some lost sleep? Of course it will but so long as the Spanish Government allow a swift pass through the frontier the kind that happens to the millions of people that fly in from all around the world every day then we will still get the local and tourist business.
The one thing the Caruana Government and the current GSLP/Lib government have in common is their desire to modernise and to be innovative in the area of finance. Albert Isola was brought back into politics for just this reason and there is no doubt it has worked for both sides of our political divide. We still continue to be an attractive jurisdiction to do business within and without, yes our wings may be clipped in terms of the EU as an overarching regulator but places like the Isle of Man, Jersey etc are also going through the same. Maybe we ought to consider what they are doing and what other routes we could consider to offset any drop off?
Food for thought maybe?