UK cabinet minister says Britain will leave the single market October 27, 2016 A UK cabinet minister has said Britain will be leaving the single market in the strongest signal yet that the government is moving towards a hard Brexit. The remarks came from David Mundell, the secretary of state for Scotland, at a hearing on the impact of the Brexit vote, Reuters has reported. Mundell told Scottish [...]
Now Ukip has also pulled out of Zac Goldsmith’s Richmond Park by-election October 27, 2016 Zac Goldsmith's Richmond Park by-election is looking lonelier by the minute after Ukip revealed that they would not be fielding a candidate. The Conservatives have previously said they won't run against their former MP – Goldsmith resigned earlier this week in protest over Heathrow expansion – and Labour MPs have also mooted withdrawing, although their [...]
Labour shadow chancellor John McDonnell has accused the government of seeking a “bankers’ Brexit” October 27, 2016 Labour's shadow chancellor John McDonnell has hit out over Theresa May's EU plans, accusing the government of favouring a “bankers' Brexit”. Speaking in London earlier today, he said the government was trying to “cut special deals” for the City. McDonnell has previously hit out over rumours of Downing Street seeking a special carve-out for financial [...]
The House of Commons will debate Brexit and the City next week after two Labour backbenchers secured a three hour slot October 27, 2016 Two Labour MPs have secured time for a House of Commons debate next week on the impact of Brexit on financial and professional services firms. Backbenchers Liz Kendall and Chris Leslie have been granted three hours next Thursday to discuss the future of the City after quitting the EU. Kendall was a contender in Labour's [...]
Nissan’s decision to stay in the UK shows “Britain is open for business”, says Theresa May October 27, 2016 Theresa May said Nissan's decision to build new models at its Sunderland plant post-Brexit vote showed "Britain is open for business". “This is fantastic news for the UK," said the Prime Minister. "Nissan is at the heart of this country’s strong automotive industry and so I welcome their decision to produce the Qashqai and a new model at [...]
Wallonia deadlock broken, putting EU-Canada trade deal back on track October 27, 2016 The Belgian government has finally struck a deal with regional representatives from Wallonia to push forward with the landmark EU-Canada trade deal this morning. After a week of talks and multiple failures to negotiate a settlement, the news puts the EU back on course to formally sign the Comprehensive Economic and Trade Agreement (Ceta) with [...]
Currency markets aren’t prepared for a Donald Trump victory October 27, 2016 We are less than a fortnight away from the culmination of arguably the most divisive US presidential campaign in history and currency markets are currently preparing themselves for another political spasm. Needless to say, in the same way that sterling was used as a pressure point in the run up to the EU referendum and [...]
No kidding: Christine Lagarde, head of the IMF, warns that Brexit uncertainty is bad for the economy October 27, 2016 Christine Lagarde, head of the International Monetary Foundation, has warned that the uncertainty surrounding the UK's vote to leave the EU is bad for the economy. Speaking to Bloomberg this morning, she said businesses needed to know whether they would lose their access to passporting across the market when the UK leaves the bloc. The uncertainty [...]
Whiplash-gate: we’re all paying for the unscrupulous few, say motoring experts October 27, 2016 Car insurance premiums are spiralling out of control due to a "whiplash epidemic" according to data released by motoring organisation the AA. The average cost of annual car cover is now £82 higher than a year ago, a 17 per cent year-on-year increase. Alongside spurious whiplash claims, the AA said that recent increases in insurance premium [...]
Get ready for a more mature Autumn Statement – which might mean you get ignored October 27, 2016 All Autumn Statements are political, but some Autumn Statements are more political than others. Under George Osborne, we have become used to very political Budgets and Autumn Statements. The former chancellor consistently engaged the media with policy tweaks – from pensioner bonds to corporate tax cuts. The changes were generally small, but their appeal to [...]