The European Union has been a structure under stress, facing significant change, for many years. In the eighth edition of "The Private Wealth & Private Client Review", Richard Frimston and Christopher Salomons discuss the state of the EU and how geopolitical and economic developments are impacting on its direction of travel.
The 2019 EU Parliament election results did not produce any clear messages, but reinforced old prejudices. In some Member States, right-wing anti-EU parties did not do as well as they had hoped, while elsewhere they did. The improving economic outlook in 2018 gave the European Union and its various institutions hope that a corner had been turned. The year 2019 has brought further uncertainty to all.
All Member States continue to be focused on economic growth and maximising tax collection, particularly from corporations, while dealing with their citizens’ concerns over immigration.
The stark divisions within the United Kingdom exacerbated by its referendum would objectively call for some form of compromise, but the inability to find a simple Brexit solution has actually resulted in almost complete political paralysis and deepening divisions.
The private wealth & private client review is available to read on The Law Reviews website.
Richard is a consultant in the private client team. He advises clients in relation to their estate planning, wills, probate and tax planning issues. Areas of expertise include cross-border estates and international private law issues.
Christopher is a senior associate in the private client team advising clients domiciled in both the UK and overseas on a range of tax, trusts, estate planning and succession related matters.