WEBVTT - Macron in Beijing and Mester Wants More

0:00:02.560 --> 0:00:05.160
<v Speaker 1>This is Bloomberg Daybreak here for this Thursday, the sixth

0:00:05.200 --> 0:00:08.920
<v Speaker 1>of April in London. Coming up today, chime Offensive, Makran

0:00:09.000 --> 0:00:12.840
<v Speaker 1>and Vanderline meet China's she in Beijing, Mester's impass. The

0:00:12.880 --> 0:00:16.800
<v Speaker 1>Cleveland Fed president tells Bloomberg she disagrees with Wall Street

0:00:16.840 --> 0:00:21.320
<v Speaker 1>bets on rate cuts, bonus bubble bursts, Switzerland's government orders

0:00:21.360 --> 0:00:24.520
<v Speaker 1>cuts to extra pay for credit, sweet success and managers,

0:00:24.720 --> 0:00:29.120
<v Speaker 1>Britain's latest border woes, and a Tory MP's failed roll

0:00:29.360 --> 0:00:31.880
<v Speaker 1>of the dice. Those are the stories we're looking at

0:00:31.880 --> 0:00:35.440
<v Speaker 1>in today's papers. And I'm Leanne Gerns. Plus the arrest

0:00:35.560 --> 0:00:39.120
<v Speaker 1>of the husband of Scotland's former leader, Nicholas Sturgeon throws

0:00:39.159 --> 0:00:45.040
<v Speaker 1>the UK's election max into question. That's all straight ahead

0:00:45.159 --> 0:00:48.320
<v Speaker 1>on Bloomberg Daybreak. Europe the business news you need to

0:00:48.320 --> 0:00:52.720
<v Speaker 1>start your day in just one fifteen minute podcast on Apples, Spotify,

0:00:53.000 --> 0:00:56.640
<v Speaker 1>the Bloomberg Business app and everywhere you get your podcasts.

0:01:00.520 --> 0:01:03.319
<v Speaker 1>Good morning, I'm Stephen Carol and I'm Caroline Heger. Here

0:01:03.360 --> 0:01:06.520
<v Speaker 1>are the stories that we're following today. French President Tommanuel

0:01:06.560 --> 0:01:09.800
<v Speaker 1>Macron and EU Commissioned President for Ursulavanja Line meet Chinese

0:01:09.880 --> 0:01:12.399
<v Speaker 1>leader shooting paying Today, the parent join a list of

0:01:12.440 --> 0:01:14.919
<v Speaker 1>European leaders have made the trip to the world's second

0:01:14.959 --> 0:01:18.840
<v Speaker 1>largest economy since the beginning of the Russian invasion of Ukraine.

0:01:19.200 --> 0:01:21.920
<v Speaker 1>Speaking through a translator, Emmanuel Macron said, it's better to

0:01:22.040 --> 0:01:26.560
<v Speaker 1>engage with the country than to cut them off. Talking

0:01:26.600 --> 0:01:30.240
<v Speaker 1>directly to China about this conflict, the Russian aggression. What

0:01:30.400 --> 0:01:34.160
<v Speaker 1>is at stake, the consequences for our Europe, the consequences

0:01:34.200 --> 0:01:36.920
<v Speaker 1>for the Near East and Middle East, as well as

0:01:36.959 --> 0:01:40.160
<v Speaker 1>for the African continent and so many others. It means

0:01:40.200 --> 0:01:43.360
<v Speaker 1>to try and engage them in a strategic relationship that

0:01:43.480 --> 0:01:46.200
<v Speaker 1>may be more complex than what we would like. This

0:01:46.280 --> 0:01:49.840
<v Speaker 1>is what I will discuss. You already understood that tomorrow

0:01:49.880 --> 0:01:51.840
<v Speaker 1>in the day with the President, we will try to

0:01:51.880 --> 0:01:56.000
<v Speaker 1>build in a way engage China toward a shared responsibility

0:01:56.160 --> 0:02:00.360
<v Speaker 1>for peace and stability. The French President's over has come

0:02:00.400 --> 0:02:03.720
<v Speaker 1>as Europe tries to balance trade and investment interests with

0:02:03.960 --> 0:02:07.800
<v Speaker 1>China with finding a solution to Ukraine at a time

0:02:07.800 --> 0:02:12.480
<v Speaker 1>of heightened tensions between Washington and Beijing. Meanwhile, in the US,

0:02:12.480 --> 0:02:16.840
<v Speaker 1>how speaker Kevin McCarthy met with Taiwan's president Ti Ing

0:02:16.919 --> 0:02:20.240
<v Speaker 1>when in a show of solidarity, Tai said that it

0:02:20.400 --> 0:02:24.360
<v Speaker 1>is no secret that peace and democracy are facing unprecedented

0:02:24.520 --> 0:02:29.320
<v Speaker 1>challenges in her country. McCarthy told Bloomberg that bipartisanship is

0:02:29.440 --> 0:02:36.160
<v Speaker 1>essential when talking to China. We've never spoken with one

0:02:36.240 --> 0:02:39.080
<v Speaker 1>voice when it comes to China. We've gone from administration administration.

0:02:39.360 --> 0:02:42.200
<v Speaker 1>So when I became Speaker, we created a select committee

0:02:42.720 --> 0:02:45.360
<v Speaker 1>and one hundred and forty six Democrats vote for it.

0:02:45.600 --> 0:02:48.959
<v Speaker 1>You've watched Democrats and Republicans here together. I think that

0:02:49.000 --> 0:02:52.519
<v Speaker 1>would even foster a stronger relationship with China, because China

0:02:52.560 --> 0:02:56.200
<v Speaker 1>would understand where our boundaries are. They won't worry about

0:02:56.200 --> 0:03:00.400
<v Speaker 1>all one party saying something. How Speaker Kevin McCarthy there

0:03:00.919 --> 0:03:04.519
<v Speaker 1>was talking to Bloomberg's Amory Haddern in California. One area

0:03:04.600 --> 0:03:07.959
<v Speaker 1>that he warned Bypasses and Agreement was struggling with is

0:03:08.040 --> 0:03:11.600
<v Speaker 1>the US debt ceiling, which McCarthy says wool Street should

0:03:11.639 --> 0:03:14.160
<v Speaker 1>be worried about, speaking of things Wall Street should be

0:03:14.200 --> 0:03:17.200
<v Speaker 1>worried about. Cleveland Fed President Lauretta Mester says the Federal

0:03:17.200 --> 0:03:21.040
<v Speaker 1>Reserve isn't planning rate cuts this year. In an exclusive interview,

0:03:21.040 --> 0:03:24.600
<v Speaker 1>sh Tell Bloomberg's McKee, the Center Bank has different priorities

0:03:24.639 --> 0:03:28.880
<v Speaker 1>than the markets. We've seen periods where the markets have

0:03:29.000 --> 0:03:30.840
<v Speaker 1>one view of what's going to happen in the economy

0:03:30.840 --> 0:03:33.320
<v Speaker 1>and the Fed has another view, and so I think

0:03:33.360 --> 0:03:36.000
<v Speaker 1>we see things a little bit differently in terms of

0:03:36.040 --> 0:03:40.520
<v Speaker 1>what the appropriate monetary policy is given where the economy

0:03:40.640 --> 0:03:43.200
<v Speaker 1>is and where it's going. We certainly are focused on

0:03:43.280 --> 0:03:47.000
<v Speaker 1>inflation and making sure that inflation gets back down to

0:03:47.120 --> 0:03:51.120
<v Speaker 1>two percent over time. The Cleveland Fed President's comments come

0:03:51.160 --> 0:03:54.160
<v Speaker 1>after ADP data and the Jolts Report showed a softening

0:03:54.200 --> 0:03:57.280
<v Speaker 1>in the US labor market. Bloomberg Radio and Television with

0:03:57.400 --> 0:04:00.560
<v Speaker 1>a full coverage of tomorrow's US jobs report released at

0:04:00.640 --> 0:04:05.160
<v Speaker 1>one thirty pm London time. Now, the Swiss government will

0:04:05.200 --> 0:04:09.320
<v Speaker 1>cancel or cut the outstanding bonuses of top Credit Swiss executives.

0:04:09.480 --> 0:04:12.760
<v Speaker 1>Under the plan, board members will have all outstanding payments

0:04:12.800 --> 0:04:17.920
<v Speaker 1>for twenty twenty two scrapped. Managers of one and two

0:04:18.040 --> 0:04:21.240
<v Speaker 1>levels below the board will have their bonuses reduced by

0:04:21.320 --> 0:04:24.479
<v Speaker 1>up to fifty percent. The movie effects around a thousand

0:04:24.480 --> 0:04:27.599
<v Speaker 1>Credit Swie employees. Police in Scotland have released Peter Murrell

0:04:27.720 --> 0:04:31.960
<v Speaker 1>Nicolas Sturgeon's husband without charge last night. He'd been detained

0:04:32.440 --> 0:04:34.880
<v Speaker 1>as he was the former chief executive of the SMP

0:04:35.080 --> 0:04:39.039
<v Speaker 1>in relation to an investigation into the party's finances. Scotland's

0:04:39.080 --> 0:04:41.839
<v Speaker 1>new First Minister, Homsa Yusuf, says that the party wants

0:04:41.839 --> 0:04:46.440
<v Speaker 1>to reassure voters. In my first meeting as Leader of

0:04:46.520 --> 0:04:50.760
<v Speaker 1>the ANC on Saturday was to get the ANC to

0:04:50.880 --> 0:04:53.360
<v Speaker 1>agree to a course of action, our own governance, our

0:04:53.400 --> 0:04:57.240
<v Speaker 1>own transparency, because people are do have questions about the

0:04:57.279 --> 0:05:01.799
<v Speaker 1>party about transparency, a better finances. That was Scotland's First Minister,

0:05:01.839 --> 0:05:05.520
<v Speaker 1>Hommesa Yusuf, who succeeded Nicholas Sturgeon last week. Sturgeon said

0:05:05.560 --> 0:05:09.479
<v Speaker 1>she had no prior knowledge of Police Scotland's plans. The

0:05:09.560 --> 0:05:13.080
<v Speaker 1>UK government has sought to distance itself from the Confederation

0:05:13.120 --> 0:05:17.320
<v Speaker 1>of British Industry following allegations of sexual misconduct. Sources tell

0:05:17.360 --> 0:05:21.360
<v Speaker 1>Bloomberg that multiple departments have postponed meetings with Britain's biggest

0:05:21.400 --> 0:05:25.039
<v Speaker 1>business lobby. Companies are also reviewing a their membership of

0:05:25.040 --> 0:05:27.960
<v Speaker 1>the lobby group, which has appointed the law firm Fox

0:05:28.000 --> 0:05:32.279
<v Speaker 1>Williams to investigate the allegations, which initially resulted in Tony

0:05:32.360 --> 0:05:35.559
<v Speaker 1>dancers stepping aside as its direct at General last month.

0:05:35.920 --> 0:05:39.200
<v Speaker 1>So those are top stories on the program this morning,

0:05:39.920 --> 0:05:41.640
<v Speaker 1>looking ahead to one of the big events that we're

0:05:41.640 --> 0:05:43.240
<v Speaker 1>watching in the coming days. Of course, you've had the

0:05:43.240 --> 0:05:46.200
<v Speaker 1>confirmation of the dates of President Joe Biden's visit to

0:05:46.560 --> 0:05:49.200
<v Speaker 1>Northern Ireland and to Ireland as well. This of course

0:05:49.240 --> 0:05:51.919
<v Speaker 1>coming as this weekend marks twenty five years since the

0:05:51.920 --> 0:05:55.320
<v Speaker 1>signature of the Good Friday Peace Agreement. This is going

0:05:55.360 --> 0:05:58.600
<v Speaker 1>to be a big week of events in Ireland next

0:05:58.640 --> 0:06:01.719
<v Speaker 1>week and Biden going to start in Northern Ireland. Of course,

0:06:01.760 --> 0:06:04.600
<v Speaker 1>focus there on the political situation they're still no functioning

0:06:04.760 --> 0:06:08.560
<v Speaker 1>parachuting assembly, yes, instorement and then moving on he's going

0:06:08.560 --> 0:06:10.440
<v Speaker 1>to make his big public speech in the west of

0:06:10.480 --> 0:06:12.520
<v Speaker 1>Ireland to the town of Ballina and County Mayo, where

0:06:12.520 --> 0:06:14.680
<v Speaker 1>his ancestors are from. That's where his big public event

0:06:14.800 --> 0:06:17.200
<v Speaker 1>is going to be held, big pump and ceremony. We'll

0:06:17.240 --> 0:06:19.520
<v Speaker 1>be talking a lot about this story both here on

0:06:19.600 --> 0:06:22.599
<v Speaker 1>Daybreak Europe and on our UK Politics show as well.

0:06:22.920 --> 0:06:24.640
<v Speaker 1>We have interviews with the people who were in the

0:06:24.720 --> 0:06:27.680
<v Speaker 1>room twenty five years ago and that peace agreement was signed. Yeah,

0:06:27.680 --> 0:06:31.440
<v Speaker 1>I mean so momentous nineteen ninety eight, and it's amazing

0:06:31.480 --> 0:06:34.800
<v Speaker 1>that we've got people with their reflections on how that

0:06:34.880 --> 0:06:37.320
<v Speaker 1>came about, a sort of feat that nobody thought was

0:06:37.560 --> 0:06:41.239
<v Speaker 1>really possible until it was done. Also, though I thought

0:06:41.279 --> 0:06:43.720
<v Speaker 1>that Joe Biden was going to be addressing the Irish

0:06:43.880 --> 0:06:46.040
<v Speaker 1>Parliament as well, he's going to be speaking to the

0:06:46.120 --> 0:06:48.560
<v Speaker 1>Ireland Dublin as well, the meeting the Joint House of

0:06:48.560 --> 0:06:50.320
<v Speaker 1>the Rafters. They're coming back from their holidays to speak

0:06:50.320 --> 0:06:52.919
<v Speaker 1>to him. Okay, very interesting. Also we hear that the

0:06:52.960 --> 0:06:57.400
<v Speaker 1>former US president Bill Clinton and Hillary Clinton also expected

0:06:57.440 --> 0:07:00.680
<v Speaker 1>to attend events in Northern Ireland this month too, So

0:07:01.320 --> 0:07:05.240
<v Speaker 1>lots of big visits really of global leaders around the world. Yeah,

0:07:05.320 --> 0:07:09.479
<v Speaker 1>certainly we're speaking of leaders of global global leaders traveling

0:07:09.680 --> 0:07:12.320
<v Speaker 1>at to different places. Imanuel Macron from France, the You

0:07:12.400 --> 0:07:15.720
<v Speaker 1>Commission president or Savannderline or meeting China's president. She later

0:07:15.760 --> 0:07:17.480
<v Speaker 1>this is part of a three day trip to China.

0:07:17.560 --> 0:07:20.400
<v Speaker 1>Macron started by saying that Europe can take a more

0:07:20.480 --> 0:07:24.240
<v Speaker 1>moderate role towards Beijing. Let's bring in our Asia government

0:07:24.240 --> 0:07:27.400
<v Speaker 1>Managing editor Daniel Tankate for more and what should we

0:07:27.440 --> 0:07:30.480
<v Speaker 1>be expecting from this meeting of these presidents later on.

0:07:32.200 --> 0:07:34.880
<v Speaker 1>Those are a couple of things we're watching for. The

0:07:34.920 --> 0:07:40.480
<v Speaker 1>biggest is just any sort of progress on Ukraine. Emmanuel

0:07:40.560 --> 0:07:43.640
<v Speaker 1>mccron was in Beijing yesterday. He said he thought China

0:07:43.760 --> 0:07:46.920
<v Speaker 1>could play a major role in helping to bring an

0:07:47.000 --> 0:07:50.120
<v Speaker 1>end to the Council due to its relationship with Russia.

0:07:50.360 --> 0:07:53.400
<v Speaker 1>Now this is significant given that France is a G

0:07:53.560 --> 0:07:57.160
<v Speaker 1>seven member, it's a permanent member of the UN Security Council.

0:07:58.160 --> 0:08:03.000
<v Speaker 1>So the endorsement for Shiji and Ping's really vague blueprint

0:08:03.120 --> 0:08:08.440
<v Speaker 1>on Ukraine does help China immensely there. The other thing

0:08:08.440 --> 0:08:10.800
<v Speaker 1>we're watching is any sort of business deals to come

0:08:10.840 --> 0:08:13.000
<v Speaker 1>out of it. You know, China has been isolated for

0:08:13.000 --> 0:08:16.920
<v Speaker 1>the past couple of years with these strict COVID zero restrictions.

0:08:16.920 --> 0:08:21.560
<v Speaker 1>They've pushed off a lot of businesses now facing increased

0:08:21.560 --> 0:08:24.280
<v Speaker 1>pressure from the US on sanctions and other things. So

0:08:24.360 --> 0:08:28.320
<v Speaker 1>China is keen to get more international business into the country,

0:08:28.440 --> 0:08:30.400
<v Speaker 1>and we'll be watching to see what deals come out

0:08:30.400 --> 0:08:33.679
<v Speaker 1>of this. Okay, that's interesting. So how much of a

0:08:33.760 --> 0:08:37.319
<v Speaker 1>contrast should we expect then with relations with the US,

0:08:37.440 --> 0:08:40.440
<v Speaker 1>which you know, it's hard to measure exactly how high

0:08:40.480 --> 0:08:44.920
<v Speaker 1>the tensions are, but they are ever present. Yeah, I

0:08:44.960 --> 0:08:47.920
<v Speaker 1>think just the fact that McCrone is there, it's someone

0:08:48.000 --> 0:08:51.720
<v Speaker 1>that China views as a person they could do business with,

0:08:51.800 --> 0:08:55.840
<v Speaker 1>almost like Angelo Merkel used to play with Germany, who

0:08:56.320 --> 0:08:58.680
<v Speaker 1>kind of cut more of a middle path in terms

0:08:58.720 --> 0:09:04.240
<v Speaker 1>of relations with China as opposed to the US. Russia's

0:09:04.360 --> 0:09:08.280
<v Speaker 1>invasion of Ukraine, you know, coupled with China's the threats

0:09:08.280 --> 0:09:12.600
<v Speaker 1>towards Taiwan have really kind of pushed Europe closer to

0:09:12.640 --> 0:09:15.960
<v Speaker 1>the US on China policy. McCrone has been a key

0:09:16.040 --> 0:09:18.680
<v Speaker 1>voice in saying, you know, there needs to be a

0:09:18.679 --> 0:09:21.040
<v Speaker 1>middle way. They have to find some ways to bring

0:09:21.080 --> 0:09:25.280
<v Speaker 1>these two big economies together to have a single global

0:09:25.360 --> 0:09:29.040
<v Speaker 1>order rather than two different ones. So in that sense, yes,

0:09:29.120 --> 0:09:31.280
<v Speaker 1>France is still an ally of the US, but they

0:09:31.320 --> 0:09:37.000
<v Speaker 1>also are favoring engagement with China and just a softer

0:09:37.120 --> 0:09:41.160
<v Speaker 1>tone in general than the US has brought with Beijing.

0:09:42.240 --> 0:09:45.680
<v Speaker 1>How much of these importance do these meetings hold within China?

0:09:45.679 --> 0:09:47.880
<v Speaker 1>We're talking about, of course this from an international stage

0:09:47.880 --> 0:09:49.880
<v Speaker 1>point of view, from an international relations point of view,

0:09:49.880 --> 0:09:54.240
<v Speaker 1>but what significance they have with in China, Well, it

0:09:54.280 --> 0:09:58.600
<v Speaker 1>certainly helps Hiju and Ping's efforts to show that he's

0:09:58.920 --> 0:10:01.840
<v Speaker 1>a global states. You know, mcron is just the latest

0:10:01.920 --> 0:10:05.200
<v Speaker 1>visitor to come to Beijing. There's been a series of people,

0:10:05.800 --> 0:10:08.400
<v Speaker 1>you know, particularly after the country was closed, no one

0:10:08.480 --> 0:10:12.040
<v Speaker 1>was coming in there for three years. Now she is

0:10:12.080 --> 0:10:16.079
<v Speaker 1>a regular, steady stream of visitors, McCrone probably being one

0:10:16.080 --> 0:10:19.640
<v Speaker 1>of the most highest profile. You have Brazil's president coming

0:10:19.640 --> 0:10:24.400
<v Speaker 1>in next week as well. So it just helps China

0:10:24.720 --> 0:10:27.560
<v Speaker 1>show that they're engaged with the world, and it prevents

0:10:29.000 --> 0:10:31.440
<v Speaker 1>the US efforts to kind of lump China and Russia

0:10:31.480 --> 0:10:35.880
<v Speaker 1>together and isolate Beijing on the world stage. I also

0:10:35.920 --> 0:10:37.920
<v Speaker 1>want to ask you though about the US House Speaker

0:10:38.000 --> 0:10:41.640
<v Speaker 1>Kevin McCarthy, who is meeting Taiwan's president on US soil.

0:10:42.000 --> 0:10:43.760
<v Speaker 1>You had some of the comments that he made just

0:10:43.960 --> 0:10:47.280
<v Speaker 1>earlier stressing the importance of ties with the island. He's

0:10:47.320 --> 0:10:51.040
<v Speaker 1>also been speaking to Bloomberg. What stood out for you

0:10:51.120 --> 0:10:53.920
<v Speaker 1>for the kind of event, for what is being said

0:10:53.920 --> 0:10:58.280
<v Speaker 1>and what is not being said. I think the key

0:10:58.360 --> 0:11:01.839
<v Speaker 1>thing is where the event took place, which was in California,

0:11:01.880 --> 0:11:06.480
<v Speaker 1>And this is something that sign when basically convinced Speaker

0:11:06.520 --> 0:11:09.640
<v Speaker 1>McCarthy to hold that meeting on US soil rather than

0:11:09.720 --> 0:11:13.120
<v Speaker 1>him going to Taiwan, which would have been relatively much

0:11:13.160 --> 0:11:17.640
<v Speaker 1>more provocative. She's also not had a lot of public meetings.

0:11:17.640 --> 0:11:21.240
<v Speaker 1>She's been relatively low key during the trip. So you know,

0:11:21.320 --> 0:11:25.040
<v Speaker 1>they've met, they've had that meeting, they've it's been unprecedented,

0:11:25.440 --> 0:11:28.480
<v Speaker 1>but they haven't really rubbed it in China's face in

0:11:28.520 --> 0:11:30.520
<v Speaker 1>a way that they could have, and that matters a

0:11:30.520 --> 0:11:34.160
<v Speaker 1>lot for Beijing's reaction to these things. So what we've

0:11:34.160 --> 0:11:37.600
<v Speaker 1>seen from China so far has been very tepid. You've

0:11:37.600 --> 0:11:40.560
<v Speaker 1>had the usual statements declaring Taiwan a red line, but

0:11:40.760 --> 0:11:43.280
<v Speaker 1>not really the military response that we saw in the

0:11:43.280 --> 0:11:49.160
<v Speaker 1>immediate aftermath of Nancy Pelosi arriving in Taiwan last year. Okay,

0:11:49.600 --> 0:11:52.040
<v Speaker 1>thank you very much, our Asia Government Managing Editor Daniel

0:11:52.080 --> 0:11:53.640
<v Speaker 1>tan Kate for bringing us up today with all of

0:11:53.640 --> 0:11:56.560
<v Speaker 1>the various strands of those stories we are monitoring this

0:11:56.640 --> 0:12:01.760
<v Speaker 1>morning on this issue. Up next, Britain's latest border wos

0:12:01.760 --> 0:12:08.120
<v Speaker 1>and a Tory MP and his failed roll of the dice. Now,

0:12:08.320 --> 0:12:11.760
<v Speaker 1>the paper review on Blue Birthday break Europe. The news

0:12:11.840 --> 0:12:16.000
<v Speaker 1>you need to know from today's papers. Bloombergsley and Garons

0:12:16.080 --> 0:12:18.960
<v Speaker 1>is with us for details on those stories. Lean Let's

0:12:18.960 --> 0:12:21.600
<v Speaker 1>start with the Financial Times. The headline their UK government

0:12:21.600 --> 0:12:25.640
<v Speaker 1>publishes plans for post Brexit checks. They might be late, Stephen,

0:12:25.920 --> 0:12:29.240
<v Speaker 1>but they're here apparently. So. The introduction of new rules

0:12:29.280 --> 0:12:33.520
<v Speaker 1>have been repeatedly delayed since Britain withdrew from the block

0:12:33.600 --> 0:12:37.720
<v Speaker 1>back in January twenty twenty, so three and a half

0:12:37.840 --> 0:12:41.280
<v Speaker 1>years ago. But now, according to the FT, this was

0:12:41.400 --> 0:12:45.840
<v Speaker 1>due to concerns by ministers that controls could really create

0:12:46.080 --> 0:12:50.959
<v Speaker 1>unacceptable delays at Channel ports and other entry points. So

0:12:51.040 --> 0:12:54.960
<v Speaker 1>this has been a massive concern. But the government's proposals

0:12:55.120 --> 0:12:59.880
<v Speaker 1>introduced and yesterday really put on the table say full

0:13:00.080 --> 0:13:03.920
<v Speaker 1>customs checks on goods entering Britain from the EU by

0:13:04.000 --> 0:13:07.680
<v Speaker 1>the end of October twenty twenty, so that is when

0:13:07.720 --> 0:13:12.439
<v Speaker 1>they want to introduce these proposals twenty four what did

0:13:12.440 --> 0:13:17.280
<v Speaker 1>I say, Sorry, Dotter, next year, let's put it that way. Sorry. Now.

0:13:17.559 --> 0:13:21.720
<v Speaker 1>Interestingly enough, the plans include carrying out checks away from ports,

0:13:21.800 --> 0:13:25.400
<v Speaker 1>and this is to avoid just mass disruption that could

0:13:25.400 --> 0:13:28.760
<v Speaker 1>be caused, and the launch of a pilot trusted Trader

0:13:28.800 --> 0:13:34.600
<v Speaker 1>scheme to simplify processes and also allow regular importers to

0:13:34.640 --> 0:13:38.600
<v Speaker 1>avoid full customs inspections. So this is what has been

0:13:38.640 --> 0:13:43.200
<v Speaker 1>put on the table for ministers really concerned about, you know,

0:13:43.240 --> 0:13:46.840
<v Speaker 1>the backlog that could be created. And they also propose

0:13:46.880 --> 0:13:49.520
<v Speaker 1>that goods are ranked according to their level of risk

0:13:49.679 --> 0:13:53.720
<v Speaker 1>to human, animal or plant health. And the plans will

0:13:53.760 --> 0:13:58.440
<v Speaker 1>be subjected to a six week consultation period before actually

0:13:58.640 --> 0:14:04.600
<v Speaker 1>being finalized. But Caroline, more post brexit border checks really

0:14:04.679 --> 0:14:07.480
<v Speaker 1>on the table. Yeah, I mean this is so complex

0:14:07.520 --> 0:14:10.040
<v Speaker 1>and difficult. I mean the ones of the governors postponed it.

0:14:10.840 --> 0:14:12.920
<v Speaker 1>And yeah, of course the difficulties are going to come.

0:14:13.080 --> 0:14:15.840
<v Speaker 1>Sure border force are going to be have to have

0:14:16.040 --> 0:14:19.200
<v Speaker 1>much more money in order to deal with all of this. Surely. Anyway,

0:14:19.280 --> 0:14:22.640
<v Speaker 1>that aside, reflections aside, let's talk a bit about the Times.

0:14:23.160 --> 0:14:28.280
<v Speaker 1>So an other Times exposer exposed says how Tory MP

0:14:28.600 --> 0:14:32.400
<v Speaker 1>offered to lobby for gambling investors. Just let's get into

0:14:32.440 --> 0:14:37.280
<v Speaker 1>this one. Yes, so a Conservative MP filmed apparently offering

0:14:37.720 --> 0:14:41.600
<v Speaker 1>to lobby ministers on behalf of the gambling industry and

0:14:41.680 --> 0:14:44.800
<v Speaker 1>this is awful money. Now he has had the party

0:14:44.920 --> 0:14:49.640
<v Speaker 1>whip suspended. The MP is Scott Benton, who told undercover

0:14:49.760 --> 0:14:54.680
<v Speaker 1>journalists from the Times posing as investors that he would

0:14:54.720 --> 0:15:00.320
<v Speaker 1>ask parliamentary questions, although he eventually it's important to our line.

0:15:00.360 --> 0:15:04.760
<v Speaker 1>This didn't accept any cash, so he felt like something

0:15:04.840 --> 0:15:07.560
<v Speaker 1>was wrong and he didn't go any further. But he

0:15:07.600 --> 0:15:11.440
<v Speaker 1>was secretly filmed telling reporters from the Times about how

0:15:11.480 --> 0:15:15.040
<v Speaker 1>he can access ministers and get a leaked copy of

0:15:15.120 --> 0:15:19.720
<v Speaker 1>the white Paper on gambling reforms to the company forty

0:15:19.800 --> 0:15:23.680
<v Speaker 1>eight hours before it went public. Now we know this

0:15:23.720 --> 0:15:28.160
<v Speaker 1>white paper could possibly be released after Easter and it's

0:15:28.200 --> 0:15:33.040
<v Speaker 1>got these new reforms in from the gambling industry. The

0:15:33.080 --> 0:15:37.000
<v Speaker 1>gambling industry is absolutely exploded in Britain, particularly during the pandemic.

0:15:37.000 --> 0:15:38.840
<v Speaker 1>I think if anyone was in any doubt about how

0:15:38.840 --> 0:15:41.760
<v Speaker 1>important the reform paper is going to be, you know,

0:15:41.960 --> 0:15:45.120
<v Speaker 1>I think this and also Caroline another thing. Betting companies

0:15:45.120 --> 0:15:49.320
<v Speaker 1>have launched an extensive lobbing campaign in Westminster, spending more

0:15:49.360 --> 0:15:53.120
<v Speaker 1>than one hundred and eighty thousand pounds on corporate hospitality

0:15:53.480 --> 0:15:57.280
<v Speaker 1>for dozens of MPs since twenty twenty one, and mid

0:15:57.360 --> 0:16:00.480
<v Speaker 1>moves to you know, really tightened regular eight and when

0:16:00.520 --> 0:16:04.480
<v Speaker 1>it comes to gaming, gambling and betting, because as you say,

0:16:04.600 --> 0:16:07.720
<v Speaker 1>things have become explosive here in the UK. It's really

0:16:07.760 --> 0:16:12.240
<v Speaker 1>exploded also online due to the pandemic. But as Benton

0:16:12.360 --> 0:16:16.480
<v Speaker 1>does say, he contacted the Parliamentary Commissioner for Standards over

0:16:16.560 --> 0:16:20.160
<v Speaker 1>concerns and he has been asked to break parliamentary walls

0:16:20.360 --> 0:16:24.680
<v Speaker 1>and then went no further with the discussions. This is

0:16:24.720 --> 0:16:28.000
<v Speaker 1>Bloomberg Daybreak Europe. You're morning brief on the stories making

0:16:28.000 --> 0:16:30.840
<v Speaker 1>news from London to Wall Street and beyond. Look for

0:16:30.960 --> 0:16:34.520
<v Speaker 1>us on your podcast feed every morning on Apple, Spotify

0:16:34.600 --> 0:16:37.120
<v Speaker 1>and anywhere else you get your podcasts. You can also

0:16:37.160 --> 0:16:40.280
<v Speaker 1>listen live each morning on London DAB Radio, the Bloomberg

0:16:40.320 --> 0:16:43.560
<v Speaker 1>Business app, and Bloomberg dot Com. Our flagship New York

0:16:43.600 --> 0:16:47.120
<v Speaker 1>station is also available on your Amazon Alexa devices. Just

0:16:47.240 --> 0:16:51.400
<v Speaker 1>say Alexa play Bloomberg eleven thirty. I'm Caroline Hitka and

0:16:51.440 --> 0:16:54.080
<v Speaker 1>I'm Stephen Carroll. Join us again tomorrow morning for all

0:16:54.120 --> 0:16:56.520
<v Speaker 1>the news you need to start your day right here

0:16:56.560 --> 0:17:04.760
<v Speaker 1>on Bloomberg Daybreak Europe.