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The European Commission (EC) has issued preliminary clarifications concerning the distortion test under the new Foreign Subsidies Regulation (FSR). These preliminary clarifications come only a year after the FSR came into...more
Shearman & Sterling advises on many of the most significant subsidy matters in the UK and European Union. As part of this work, we have seen the increasing role that subsidy has played in the policy choices made by...more
The UK Government has been busy adding flesh to the bare bones of the domestic subsidy control regime that has been in place since the start of 2021 following the signing of the EU/UK Trade and Cooperation Agreement (TCA). ...more
State aid remained one of the key sticking points in Brexit negotiations right until the announcement of the Trade and Cooperation Agreement ("TCA") on Christmas Eve 2020. One of the key priorities of the European Union...more
- Extension of the existing State aid scheme would enable support for research, testing and production of products to tackle COVID-19. - It would also allow tax payment deferrals and wage subsidies to help avoid layoffs. ...more
On August 20, 2018, the U.K. government published further details of its negotiation position with the European Union on state aid post-Brexit. Three days later, it published guidance on state aid in case the U.K. leaves the...more