Rajoy and May meet at Moncloa

Rajoy and May meet at Moncloa to prepare the Post-Brexit order

The future of the relations between Spain and a Post-Brexit United Kingdom starts with the meeting between Rajoy and Theresa May in Madrid. Enhancing them is key for both countries. #embracespain.

The caretaker president, Mariano Rajoy, has met with the British prime minister, Theresa May at Palace of Moncloa. During the last few weeks, Del Canto Chambers has been advocating for the start of these bilateral relations and we think that this is a great step forward. We have recently published in El País the article “The Spanish and British’s axis” and another one in Cinco Días entitled “The Brexit and the Hispano-British” where we insisted on the importance of this dialogue.

This is the first official meeting between both political leaders although they encountered each other at the G-20‘s summit. Among the issues to deal with, three of them are the most important ones for the relations between Spain and the United Kingdom not only after the Brexit but also when the negotiations for Britain’s exit from the EU start next March 2017.

First of all, the situation of both the British living in Spain (around 250.000) and the Spanish living in the UK (more than 100.000). The mobility of these groups would be seriously affected by visas, working permits, pensions, Social Security and healthcare issues.

The second topic is the trade relations between Spain and the UK. The Spanish External Trade Institute(ICEX) calculates that there are around 700 British businesses in Spain and around 300 Spanish ones in the United Kingdom. The value of their commercial transactions is worth up to €55bn.

The third and last issue is Gibraltar’s dispute and Scotland’s situation in a Post-Brexit United Kingdom. Spain is offering the Rock’s co-sovereignty to London in exchange for the validity of the EU Treaties in Gibraltar after the UK exits the EU. With regard to Scotland, the United Kingdom currently prefers them to maintain bonds with Brussels, but Spain fears that this could be served as a precedent for Catalonia.

With the #embracespain campaign, at Del Canto Chambers we bet for fluid negotiations that will allow the commercial and cultural bonds between Spain and the United Kingdom after the Brexit to not only be preserved, but also enhanced.

At Del Canto Chambers we are specialized in tax and trade law and we can be contacted at clerk@delcantochambers.com

Del Canto Chambers’ Editorial Board

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