Holdout Remainers’ “delay and pray” strategy is wishing the UK economic harm December 14, 2016 The strategy is perfectly clear. In fact, it has even been written down and elucidated on broadcast media for us. Jolyon Maugham QC (who is seeking to bring a case in the Irish courts questioning the revocability of triggering Article 50) and other hold-out Remainers are now looking to prevent Brexit by making Britain’s negotiating [...]
As MPs debate the idea, should Britain create its own Sovereign Wealth Fund? December 14, 2016 John Penrose, Conservative MP for Weston Super Mare, says Yes. Brexit gives us a once in a generation opportunity to recast the kind of country we want to be. We’ve got an unbalanced, rock-and-roll economy that’s too dependent on consumer spending and doesn’t invest enough for the future. That makes us less economically productive than [...]
Southern rail strike misery costs millions as 300,000 commuters left stranded December 14, 2016 The economy is facing a hit of tens of millions of pounds as 300,000 commuters are left stranded this week on the back of three days of walkouts by staff on Southern rail. Southern rail commuter services ground to a halt yesterday on a double whammy of walkouts by guards from the Rail, Maritime and [...]
Donald Trump appoints ardent oil fan Rick Perry as head of Department of Energy December 13, 2016 President-elect Donald Trump has chosen Rick Perry, an ardent believer in removing restrictions on oil drilling, as the head of the US Department of Energy. Perry served as governor of Texas for 14 years, during which he was a strident opponent of environmental regulation on oil production, a major part of the Texas economy. Perry [...]
Russian hacking to influence Brexit vote is “highly probable” says Labour MP Ben Bradshaw December 13, 2016 It is “highly probable” that Russian hackers attempted to influence the result of the EU referendum, according to a Labour MP. Ben Bradshaw, the MP for Exeter since 1997, told Parliament that he suspected Russian hackers had followed similar tactics to those used the US election campaign. However, he admitted that proof for his claim [...]
EU Parliament’s Brexit negotiator Guy Verhofstadt says transitional deal must not be “eternal” December 13, 2016 A time limit is “necessary” on any transitional deal for UK businesses while the Brexit process is completed, according to the European Parliament’s chief negotiator. Guy Verhofstadt said: “I have seen many times in politics that a so-called transitional agreement becomes an eternal or definitive agreement, so that has to be avoided.” Speaking to the BBC, [...]
Spreadbetting giant CMC Markets to consider London HQ move over FCA crackdown December 13, 2016 Spreadbetting giant CMC Markets will consider moving its HQ away from London if the City watchdog pushes ahead with a clampdown on the industry. The Financial Conduct Authority (FCA) last week revealed plans for stricter rules for firms selling “contract for difference” (CFD) products such as spreadbets for retail customers. Read more: Spreadbetters respond to [...]
Government letter to Nissan reveals no extra spending says top civil servant December 13, 2016 Nissan will not receive any more public money to keep production of its new Qashqai and X-trail models in Sunderland after Brexit, according to a top civil servant. Amyas Morse, the head of the National Audit Office, said he had seen a government letter to Nissan, and that it contained no promises which would result [...]
Challenger banks concerned Brexit has put creating a more even playing field on the backburner December 13, 2016 The UK's smaller lenders are concerned the government is delaying levelling the playing field for banking as key figures are too tied up navigating Brexit. Shortly after the Brexit vote, a number of challenger chief executives wrote to the influential Treasury Select Committee to ask them to push for creating a fairer market for lenders. This [...]
Government publishes steel requirements between now and 2020 in a bid to boost domestic industry December 13, 2016 The government has published details of its plan to use 3m tonnes of steel in infrastructure projects by 2020 in a bid to give beleaguered domestic steelmakers a better chance of winning government contracts. The amount of steel required across 18 central government infrastructure projects, including HS2, the Hinkley Point nuclear power plant and upgrading [...]