Macroeconomics: UK economy, IB Economics

The UK's energy-intensive industries, like steel plants, are concerned that the government hasn't put in place a support package to ensure that they can cope with the significant increase in energy prices.

Many European countries have gone some way to trying to alleviate the cost of higher energy, meaning that they are likely to have a competitive advantage over their UK counterparts. 

Faisal Islam identifies the major sticking point in Brexit negotiations and explains why it's so controversial. It's all about the 'level playing field' and trying to do away with the need for future tariff measures in the event that on party tries to deviate from an 'acceptable norm'.

The EU fear is that the UK will use its position outside the EU to lower some standards, perhaps with regard to state aid, giving its firms a competitive advantage - which from their perspective doesn't strike me as unreasonable. Of course, if you've spent the last four years pretending that you hold all of the cards, climbing down from that position looks weak. Or perhaps reflects the fact that you'll have to admit that you were lying all along.