''The UK could be forced to apply 37 EU rules during the Brexit transition period, according to a leaked Whitehall analysis. These include new recycling targets requiring that every household has four different bins.
The report, obtained by The Telegraph, shows that Britain could also be bound by the bloc’s renewable and energy efficiency targets for up to a decade after Brexit.
It also reveals that Brussels could have authority to mount a massive raid on the City of London and force “clearing houses” to relocate to the continent. Clearing houses stand between two sides of a trade to ensure its smooth transition, and also set aside funds to protect investors when a trade defaults.
Three-quarters of euro-denominated business is cleared by houses in London, providing the City with 83,000 jobs and up to £80 billion ($112 billion) per year. Ministers are warning that it risks “fragmenting” financial markets and could “act as a drag” on growth.
There are also concerns about the EU’s new waste framework directive. It would require Britain to increase its recycling rate from 44 percent to as much as 70 percent. UK ministers have said that increasing recycling rates to 55 percent would require all households to separate food waste, garden waste, recycling and household waste. They have asserted that recycling rates of 70 percent are not feasible.
Other controversial policies include an EU ruling which could force Brits to take out insurance for tractors, quad bikes and mobility scooters; as well as proposals to limit phosphates in fertilizers, which ministers believe could drive up prices.'
Read more: Recycling, renewables & women on boards: The 37 EU rules Britain could have to accept post-Brexit
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19 May 2018
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