Why markets are so calm about the coming triggering of Article 50 March 13, 2017 Brexit is back and this time it looks for real. The UK government’s decision to trigger Article 50 imminently means the start of official negotiations with the European Union on the exit plan. But while financial markets remain cautious, the tension seems to be less as compared to the 23 June referendum vote. There are [...]
Private sector business confidence has rebounded to its strongest level since 2015 as Brexit fear fades March 13, 2017 Business confidence among the UK's private sector firms recovered to the strongest level since mid-2015, according to new figures. The EU referendum sent the net balance of optimism to a four-year low of 39 per cent, but now the index has rebounded to 52 per cent, comparing favourably with other developed markets, data released today [...]
The UK will get a US free trade deal post-Brexit – but Donald Trump will drive a hard bargain March 13, 2017 Back in 1783, when Britain signed a trade deal with the fledgling United States as part of the Treaty of Paris which concluded the revolutionary war, the world-class British delegation was infinitely more experienced and better prepared than their novice American counterparts. Sadly, this is not the case today. Fast forward 234 years and Britain’s [...]
Consumer spending is up but caution appears to be growing March 13, 2017 Consumer spending for February was up 1.5 per cent on the same time last year, according to the monthly Visa UK Consumer Spending Index. This marks a jump back up from a five-month low of just 0.4 per cent year-on-year growth in January. Trends from previous months held fast, with yet another rise for e-commerce [...]
The man leading a major review of workers rights thinks National Insurance rise is progressive March 12, 2017 The man put in charge of a major review into workers rights and the rise of the gig economy has called the chancellor's election pledge-breaking rise in National Insurance for the self-employed "progressive" and "economically rational". "As tax rises go, this is broadly progressive," said Matthew Taylor, the head of the Royal Society of Arts [...]
Iceland defrosts the capital controls it put in place because of the 2008 financial crisis March 12, 2017 The Icelandic government announced today it will be completely lifting on Tuesday the capital controls it put in place against country's individuals, firms, and pension funds to keep it propped during the fallout of the financial crisis. The government and Central Bank of Iceland have been over the last year whittling down the controls, which were put [...]
Niesr: UK GDP grew by 0.6 per cent in the three months to the end of February March 10, 2017 The UK economy grew by 0.6 per cent in the three months to the end of February, according to the latest estimates from the National Institute of Economic and Social Research (Niesr). This follows GDP growth of 0.8 per cent in the three months ending in January. Niesr has projected GDP growth of two per cent [...]
UK trade deficit holds steady for January as both exports and imports rise March 10, 2017 The UK’s trade deficit remained broadly flat at £2bn in January as both export and import values rose, by 0.8 and 0.6 per cent respectively. The deficit narrowed by £4.7bn to £6.4bn between the three months to January, and three months to October, though total trade balance had been revised upwards by £3.5bn after the ONS' fourth [...]
Inflation expectations hit highest levels since 2013, Bank of England survey finds March 10, 2017 Britons are anticipating big price rises over the coming year, new data from the Bank of England out today shows. Members of the public quizzed in February expect inflation to rise 2.9 per cent over the next year, up from a 2.8 per cent estimate in the Bank’s previous survey in November. The 2.9 per [...]
Prioritise Commonwealth trade post Brexit: It’s what UK businesses want March 10, 2017 The UK’s vote to leave the EU presents British businesses, large and small, with significant export opportunities with the rest of the world – and in particular with Commonwealth countries. In fact, UK businesses are calling for much closer ties and the government must listen. Polling commissioned by The Royal Commonwealth Society (RCS) and PLMR [...]