CYIL vol. 9 (2018)

CYIL 9 ȍ2018Ȏ WHAT CANWE EXPECT FROM POSTǧBREXIT UNITED KINGDOM’S INVESTMENT POLICY? longer be a part of the EU. Such decisions will determine the nature and scope of any future UK investment policy. The UK Government will have to assess the magnitude of the costs and benefits of any investment treaty with related issues of scope of coverage, inclusion of liberalisation provisions, level of protection standard, possibility of counterclaims or obligations for investors and dispute settlement design. Nevertheless we do not foresee a radical shift in the UK position similar to the EU “innovative” approach after the public consultation or to the Australian Gillard Government. The UK Government had previously declared its support for a number of new provisions proposed for the TTIP and included in the CETA. Most probably, the UK Government will continue, at least for the coming years, in the recent practice established by the EU – promoting precisely drafted standards, the explicit right to regulate, transparency in arbitration proceedings and ethical rules for arbitrators, yet without embracing the investment court system.

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