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+--- Thread: 'Megxit' could pack a punch to British economy + Will UK finally leave Jan 31? (/thread-8016.html)
'Megxit' could pack a punch to British economy + Will UK finally leave Jan 31? - C C - Jan 10, 2020
MPs finally back law which will take the UK out of the European Union on 31 January (UK community)
https://www.politicshome.com/news/uk/foreign-affairs/brexit/news/108957/mps-finally-back-law-which-will-take-uk-out-european
EXCERPT: The Commons voted 330 to 231 to approve the Withdrawal Agreement Bill at its third reading, putting an end to months of late night votes and government defeats. Although the draft legislation still needs to be approved by the House of Lords, it means the UK will definitely leave the European Union on 31 January, over 10 months after the original 29 March 2019 exit date.
[...] Winding up the debate on the bill, Brexit Secretary Steve Barclay said: "This evening the bill will pass to the other place with a very clear mandate from this House that now is the time to move forwards. I anticipate constructive scrutiny as we would expect from the other place but I have no doubt that their lordships will have heard the resounding message from the British people on 12 December and they will have seen the clear will of this House. This bill will secure our departure from the European Union with a deal that gives certainty to businesses, protects the rights of our citizens and ensures that we regain control of our money, our borders, our laws and our trade policy."
Labour voted against the bill, and shadow Brexit minister Thangam Debbonaire said: "We will focus entirely on voting against the entire bill at third reading and no that’s not voting against Brexit, it’s voting against this bill..." (MORE - details)
'Megxit' could pack a punch to the British economy (UK community)
https://www.nbcnews.com/business/business-news/megxit-expected-pack-punch-british-economy-n1113121
EXCERPT: The decision of Prince Harry and his wife, Meghan, the Duchess of Sussex, to take a step back from senior royal duties is packing not only a punch to the gut of royal enthusiasts, but it’s also expected to wallop the British economy.
[...] “The royal family is fairly essential to the British economy,” [Charles] Scarlett-Smith said. “The income of £1.8 billion they add to the British economy each year is enormous, and therefore any development that can affect them negatively is going to have a remarkable effect on the British economy.”
According to a report released by Brand Finance in 2017, the royal family’s worth is valued at about $88 billion [...] “The impact they have on the British economy is unequaled,” Scarlettt-Smith said. “It’s really very powerful.”
[...] For decades, a debate has raged in Britain, pitting republicans, who wish to do away with the royal family, against monarchists and others who support them. ... While many in Britain question the logic of continuing to support a fractured family with taxpayers' money, the saving grace of the royal family has remained the income they continue to generate for the British economy.
[...] In recent years, tourism to Britain has increased as a direct result of notable royal events, including the marriage of Prince William to Kate Middleton in 2011 and the marriage of Harry to Meghan Markle in 2018. Harry and Meghan’s wedding alone pumped an estimated $1.4 billion into the British economy.
Scarlett-Smith said the couple's decision to step back from their royal roles comes during an already difficult time for the royal family. [...] Scarlett-Smith said that there will be all kinds of ramifications in the wake of Harry and Meghan’s departure from senior royal duties. Among them: a number of British companies that may have benefited from Meghan and Harry and their baby, Prince Archie, wearing their brands will not see the economic boost they’d hoped for, as the royal couple may take their influence elsewhere... (MORE - details)
(video) How Prince Harry defied the Queen