Culture and creativity will drive a new golden era for the UK and China December 6, 2018 The strength of Britain’s technological and creative industries, combined with the longstanding value of its archetypal brands, has given rise to a growing desire among Chinese companies to invest in the UK. This follows on from the strong trade ties between the two nations. The UK exported £22bn worth of goods and services to China [...]
Theresa May: Parliament risks no-deal Brexit if it does not vote for withdrawal agreement December 6, 2018 Prime Minister Theresa May today said if parliament does not vote for her deal next Tuesday it either risked a no-deal Brexit or no Brexit at all. She said the agreement she negotiated with the EU was “a good deal and one that delivers on the referendum.” She said she understood there were concerns from [...]
European Court to rule on Brexit reversal case before MPs vote on deal December 6, 2018 The European Court of Justice will decide if the UK can reverse Brexit alone next week, a day before MPs vote on Prime Minister Theresa May’s deal. The ruling, on a case brought by Scottish politicians, is being pushed through at breakneck speed in time for Tuesday’s vote. Earlier this week a top adviser to the court said [...]
CBI: May must secure support for Brexit deal for UK economy to post moderate growth December 6, 2018 The UK economy will have a tough time posting even moderate growth next year without an orderly Brexit, the Confederation of British Industry (CBI) warned today. The CBI’s forecast of 1.3 per cent growth in 2018, 1.4 per cent in 2019 and 1.6 per cent in 2020, a slightly lower set of predictions than the [...]
Scrap the migration target and open the doors to global talent December 6, 2018 As the Brexit debate rages on, the government is gearing up to confirm new immigration rules, including the end to freedom of movement for people from the EU. The warning light should be flashing for businesses, particularly in the capital. If immigration is curtailed, who will do the jobs? We are at full employment, and [...]
Tariff man Trump is the most economically illiterate President in US history December 6, 2018 America and China may have called a truce in the trade war, but nobody seems to have told the President. On Tuesday, Donald Trump tweeted: “I am a tariff man. When countries come in to raid the great wealth of our nation, I want them to pay for the privilege of doing so.” I don’t have [...]
How businesses are busy hedging Brexit risk December 6, 2018 Philippos Kassimatis explains some of the hedging strategies on offer as businesses prepare for March 2019 It was was only last week that Mark Carney said fewer than half the UK’s businesses have initiated contingency plans for a no-deal Brexit, causing alarm throughout Britain’s business and investment community. Looking at the headlines, there is a [...]
Philip Hammond confirms he will borrow more and look at tax changes in ‘no deal’ December 5, 2018 Philip Hammond has confirmed the government would be forced to borrow billions more and consider tax changes to counter the economic impact of no deal. Appearing before the Treasury Select Committee on Wednesday, the Chancellor said the onus would be on the government to keep blood in the veins of the economy as the Bank of [...]
Brexit legal advice: No way out of the backstop without a trade deal December 5, 2018 The UK will be locked in a customs union with the EU even if other ways of avoiding a hard border with Ireland are found, according to the government’s top lawyer. The secret legal advice given by the Attorney General to the Cabinet on the proposed Brexit deal makes it clear the UK would struggle to [...]
Three simple answers to the UK’s productivity puzzle December 5, 2018 With political and policy attention focused almost entirely on one complex puzzle, it is easy to forget that there are others requiring urgent attention. Today's Business, Energy and Industrial Strategy (Beis) select committee report is a timely reminder that government action on the productivity puzzle is long overdue. Britain’s growth in productivity lags behind our [...]