(a)

trade negotiations were ongoing, if no agreement was reached the UK would revert to trading under World Trade Organisation (WTO) rules when the transition period ended on 31 December 2020; the UK had negotiated 25 trade agreements and continued to pursue trade agreements with another 13 countries; where no agreements were reached trade would take place on WTO terms;

(b)

the Bank of England Monetary Policy Committee (MPC) report for November 2020 suggested trading on WTO terms would mean higher unemployment for longer and a deeper recession;

(c)

programmes funded by European Structural and Investment Funds (ESIF) under the 2014-2020 funding cycle which were worth £5.3bn to the UK had been guaranteed by the Treasury;

(d)

the EU Withdrawal Act (2017) repealed the European Communities Act 1972 and converted the body of existing EU law into domestic law; the UK regulatory framework would gradually diverge from EU law covering the environment, product safety and labour standards;

(e)

free movement would end in January 2021, a points-based immigration system would be introduced and employers would need to register to sponsor EU citizens; applicants must have sponsored job offer, speak English and earn the relevant salary threshold of either £25,600 (or the going rate); Plymouth had a relatively low wage economy and some of the industrial sectors were dependent on migrant labour; the Government had declined recommendations from the Migration Advisory Committee to include care workers and brick layers on the Shortage Occupation List;

(f)

Foreign Direct Investment (FDI) supported businesses were incredibly important to the city, as these companies were some of the city’s largest employers, employing approximately 7,900 people; FDI had reached a high point in the financial year 2019-20, with 12 new projects but the value of the investment in projects had been lower than in previous years approximately £94m;

(g)

Plymouth was the only operational roll on roll off ferry terminal in the South West region and with no Border Control Post (BCP) the continental trade routes would be at risk; the Associated British Ports (ABP) had submitted a bid covering all work being carried out within the port which was eligible for funding including a BCP.

(1)

the report of the Brexit, Infrastructure and Legislative Change Overview and Scrutiny Committee on the economic impact and business preparedness;

(2)

the additional evidence presented to the Scrutiny Committee meeting held on 2 December 2020 relating to business preparedness.

(3)

the Brexit, Infrastructure and Legislative Change Overview and Scrutiny Committee for its work over the last two years to undertake research into the economic impacts of Brexit;

(4)

Sarah Holmes, Legal Director of Solicitors, Womble Bond Dickinson for her contribution to preparing the city for the end of the Brexit transition period.

(5)

to sign off Pledge 11 as completed at the January 2021 meeting of the Cabinet, after a pledge on a page had been prepared.

(6)

review its current terms of reference which are set out in the Council’s Constitution, in light of the end of the Brexit transition period;

(7)

make recommendations to Cabinet and Council about how it could be amended to better reflect organisational and city wide need.