Nearly half of UK investors view crypto as their most important financial asset May 24, 2022 A global analysis of first time investors has revealed which countries are making the most investments, and where they're putting their money.
UK sinks into unprecedented, record-breaking trade deficit with USA as low pound balloons imports value August 16, 2022 The latest trade in goods data demonstrates a weakening trade performance of the UK with the United States, the nation’s largest single-country export partner. In Q1 and Q2 2022, the UK imported £15bn – a quarterly record – and £13.8bn worth of goods from the United States as imports bounced back from a pandemic-induced dip [...]
Brexit: Deep decline in EU to UK trade as imports plunge by 25 per cent April 26, 2022 Imports from the EU have dropped by 25 per cent, according to a new study. The new report says there was a sharp drop in the number of trading ties between British exporters and EU importers after the Brexit deal was signed, with “lower value” relationships hit, as Britain stopped selling to smaller countries in [...]
UK bans export of luxury goods to Russia and introduces hiked import tariffs March 15, 2022 The UK has banned the export of luxury goods to Russia, including designer handbags and works of art. The Chancellor also outlined new import tariffs that will represent a 35 percentage point increase on current rates. The fresh tariffs will hit products like Russian vodka, fertiliser and steel. Products no longer allowed to be exported [...]
£24bn Brexit rebound: UK goods imports from EU overtake non-EU trade while Russian influx soars March 12, 2022 Goods imports from the EU rebounded fat the start of 2022, despite uncertainty over changes in HMRC methodology, to overtake Non-EU countries, after non-EU imports of goods to the UK surpassed those from the EU for the first time in 2021 since the ONS started recording the data in 1997. Over £24bn worth of goods [...]
Brexit shaves off record £20bn from UK exports in one year alone with imports from EU also dropping February 16, 2022 UK exports to EU countries shrunk by a record £20bn in just 20 months, according to new figures. Sales to the EU dropped more significantly in 2021 than exports to any other country in the world, the ONS data shows, as UK to EU exports nosedived 12 per cent between January and December of last [...]
Ukraine: UK bans all Russian oil imports from end of 2022 March 8, 2022 The UK will ban all imports of Russian oil and oil products from the end of this year in response to the invasion of Ukraine, business secretary Kwasi Kwarteng has announced. Kwarteng said the government would provide support to businesses in managing the transition, while also saying that he is “exploring options” in regards to [...]
UK mulls a carbon tax on polluting imports May 28, 2021 The Prime Minister is considering a carbon tax on imports that would hinder companies outsourcing their emissions and also protect farmers and local producers from being undercut from low-regulation rivals.
Brexit: Government finds UK unity more important than potential trade war with EU, says minister May 18, 2022 The Northern Ireland Minister said this morning that the unity of the country outweighs the potential impact of a trade war with the EU. Conor Burns said he expects to reach a compromise with the EU, though legislation would be brought before Parliament regardless. On the threat of a trade war with the EU, he [...]
Swelling non-EU imports widens UK trade deficit November 11, 2021 Swelling imports from non-EU countries driven by the UK bolstering trading relationships outside the European bloc is widening Britain’s trade deficit. An 11.2 per cent jump in imports from non-EU countries in September drove the trade deficit up £3.1bn to nearly £7bn in the third quarter. Imports from countries outside the EU have been higher [...]