Abortion and customs deals collide over the Irish border June 8, 2018 It all started with wood pellets. The Renewable Heat Initiative (RHI) launched in Northern Ireland in 2012, providing subsidies for switching to low-carbon energy sources, such as biomass generators that burned wood chips. Unfortunately, the subsidies were worth more than the fuel cost, and no cap was set. This led to a bizarre situation where [...]
EU Withdrawal bill “a warm up” for Tory rebels as Trade and Customs bills set to return before summer recess June 7, 2018 The return of a critical piece of Brexit legislation to the Commons will be a "warm up" to the bigger battles faced by the government, MPs have warned. After being defeated 15 times in the House of Lords, the EU Withdrawal Bill is to be debated for a second time on 12 and 13 June. [...]
Carillion collapse leaves taxpayer on the hook for nearly £150m June 7, 2018 The collapse of outsourcer Carillion will cost the taxpayer at least £148m, according to a report published today by the National Audit Office (NAO). The liquidation of Carillion is currently expected to cost £522m which includes a £50m payment for big four accountancy firm PwC which is acting as special manager. The net cost to [...]
Politicians must stand up for Britain’s post-Brexit future June 7, 2018 It is almost two years since the United Kingdom voted to leave the European Union. Since the referendum, it is fair to say that the government’s Brexit strategy has been characterised by confusion, indecision, and political infighting – and that’s to put it mildly. With the clock ticking ahead of our scheduled exit in March, [...]
Prime Minister backs down on customs backstop deadline to keep Brexit secretary David Davis from resigning June 7, 2018 David Davis has backed down from his threats to resign after the Prime Minister added a date to the Brexit backstop proposal. According to the document published this afternoon, the government is proposing a UK-wide temporary customs arrangement with the EU in which the two sides will continue to trade on the same basis as [...]
Government taps former Citigroup boss to lure overseas investors June 6, 2018 Citigroup banker Mark Slaughter has been appointed by the government to spearhead efforts to attract more investment into the UK. The Department for International Trade (DIT) has brought Slaughter on as director general for investment. He is currently Citigroup's global corporate and investment banking vice chairman and will join the department next week, charged with [...]
Brexit white paper delayed until after European Council summit June 5, 2018 A government white paper expected to set out "ambitious and precise" details of the UK's position on Brexit is not expected to be published ahead of the European Council summit this month. The document – which is seen as critical by business groups trying to get a handle on the UK's negotiating position, as well [...]
Brexit latest: No deal as expensive as max fac to business, claims HMRC boss Jon Thompson June 5, 2018 A Brexit no deal would cost businesses around £20bn a year, HMRC boss Jon Thompson has claimed, as he doubled down on the estimates that max fac would do likewise. Speaking to the Treasury Select Committee this morning, Thompson told MPs he was confident in his statements from a fortnight ago that suggested the max [...]
Culture minister Matt Hancock confirms Sky-Fox deal can proceed as long as Sky News is divested June 5, 2018 Culture secretary Matt Hancock has confirmed that the Sky-Fox merger can go ahead, as long as Sky News is divested to Disney or another firm. If an "acceptable form of remedy" can be found, the minister said he would wave it through. Hancock said he agreed with the Competition and Markets Authority (CMA) that there [...]
Government slammed for “shameful” one day debate on key Brexit bill June 4, 2018 The government has been slammed for scheduling less than a day to debate and vote on all the amendments to the EU Withdrawal Bill. A leaked letter from chief whip Julian Smith revealed that the bill will return to the Commons for a series of crunch votes on 12 June. The legislation suffered 15 defeats [...]