Duty-free shopping to be reintroduced on EU trips in event of no-deal Brexit September 10, 2019 Duty-free shopping is set to make a return if Britain leaves the EU without a deal, chancellor Sajid Javid will announce later today. Brits travelling to EU countries after a no-deal Brexit will be able to buy alcohol and tobacco without duty being applied in the UK, due to the lifting of EU regulations. “As [...]
As politicians argue over the EU, the City is poised and ready to trade with the world September 9, 2019 It has now been more than 1,150 days since the referendum on the UK’s membership of the European Union. Many in the Square Mile have understandably found this period of such prolonged uncertainty frustrating. While there have been many twists and turns in Westminster over the past week, it remains far from clear what will [...]
Boris Johnson warned over ‘Herculean task’ of post-Brexit trade deals September 9, 2019 Boris Johnson has been warned to row back from his pledge to take the UK out of the European Union with or without a deal during his visit to Dublin. The Prime Minister arrived for talks with Irish Taoiseach Leo Varadkar this morning, with Westminster still in turmoil. Read more: Parliament will be prorogued tonight [...]
MPs willing to go to court to ensure Boris Johnson delays Brexit September 7, 2019 A number of MPs are preparing to take legal action in case Boris Johnson refuses to seek a delay to Brexit. A bill to block a no-deal Brexit has been passed through the House of Commons and House of Lords and will become law once it gains royal assent. Read more: House of Lords approves [...]
Car makers: We would rather another Brexit delay than no-deal September 6, 2019 Britain’s automotive industry trade body chief has indicated that car makers would rather suffer yet another period of Brexit uncertainty than crash out of the European Union without a deal – a scenario that would be damaging to UK business, but particularly harmful to car makers. Mike Hawes, chief executive of the Society of Motor [...]
Propping up the bar: Wetherspoons toasts no-deal Brexit by slashing the price of a pint September 6, 2019 Punters in the City looking for a cheap drink this afternoon are in luck, as pub chain Wetherspoons has slashed the price of a pint in a bid by chairman Tim Martin to prove a no-deal Brexit would be sustainable for pubs and retailers. Read more: Glass half empty? Wetherspoon shares fall as sales slow [...]
Prime Minister to seek election again next week September 5, 2019 MPs on both sides of the house are readying themselves for a second attemp by the Prime Minister to trigger election, after an unsuccessful last night. Boris Johnson failed to get a two-thirds majority as required under the Fixed Term Parliaments Act, after Labour whipped its MPs to abstain. Leader of the House Jacob Rees-Mogg [...]
Sterling rallies against dollar to pass $1.23 as Boris grapples with Brexit September 5, 2019 Sterling has broken through the $1.23 barrier today as traders’ shorts are being squeezed amid a GBP rally. Read more: Prime Minister’s election plan scuppered as Labour holds out until Halloween Confidence in the currency has reversed over the last two days as it recovers from hitting a 34-year low earlier this week. The pound [...]
Downing Street calls today ‘first day of election’ despite failure to pull trigger September 5, 2019 Downing Street has called today the “first day of the election campaign” despite Prime Minister Boris Johnson failed to trigger a snap election in parliament last night. Johnson’s office told Sky News that the PM will begin his campaign to win an election today after opposition MPs resisted his call for a 15 October vote. [...]
DEBATE: Would a no-deal Brexit really be bad for business? September 5, 2019 Would a no-deal Brexit really be detrimental for British business? YES, says Dinesh Dhamija, an entrepreneur and a Liberal Democrat MEP for London Crashing out of the EU with no deal will plunge us into 10 years of trade negotiations. That means even more uncertainty – and uncertainty is a cancer for business. Already, foreign [...]