UK must prepare for a ‘low growth economy’ as Brexit uncertainty plagues business investment July 8, 2019 Investment in British business is set to suffer in 2019 as prolonged uncertainty surrounding Brexit tightens its grip on the willingness to commit to major projects, a leading forecaster has said. EY’s Item Club, which uses the Treasury’s model of the UK economy, says that business investment will contract 1.6 per cent – a decline [...]
Hammond vows to block no-deal Brexit July 5, 2019 Chancellor Philip Hammond will “find a way” to block a no-deal Brexit come 31 October, he said today. Read more: Leaving the EU without a deal would cost the UK £90bn, says Hammond The Treasury boss warned Prime Minister Theresa May’s successor not to “sideline” MPs to deliver Brexit. Hammond branded such a move “shocking” [...]
High street sales suffer wash out June July 5, 2019 High street retailers suffered a wash out month for sales in June in a further blow for the struggling sector. Brexit uncertainty continued to have a “crippling” effect on retailers three years on from the referendum, accountancy firm BDO said, as it revealed that like-for-like in store sales fell by 0.8 per cent last month. [...]
Logistics sector optimism hits record lows over Brexit fears July 4, 2019 Optimism in the logistics sector has plummeted to record lows as the industry battles Brexit fears. According to the Logistics Confidence Index compiled by Barclays and BDO, the industry has reported net pessimism for the first time since records began in 2012. Read more: Amazon to create 2000 UK jobs in post-Brexit vote of confidence [...]
No-deal Brexit would cost UK £90bn, warns Philip Hammond July 2, 2019 A disruptive no deal Brexit could cost the treasury £90bn – far more than is set aside to cope with such an outcome, Philip Hammond warned today. Speaking in the Commons, the chancellor claimed that leaving the EU without an agreement would cause such a hit to the UK economy the £27bn war-chest created to [...]
Jeremy Hunt sets 30 September as no-deal Brexit ‘D-Day’ July 1, 2019 Jeremy Hunt would decide on 30 September whether to take the UK out of the EU without a deal if he was Prime Minister, he has revealed. The foreign secretary made the announcement on Monday morning as he set out his so-called “Brexit delivery plan” in a bid to show he was serious about walking [...]
UK manufacturing sector records worst month in six years July 1, 2019 UK manufacturing fell to its lowest level of output since February 2013 last month, according to a closely followed measure of industry activity. The sector’s downturn deepened in June as it fell to a 76-month low of a score of 48 on IHS Markit’s purchasing managers’ index (PMI) measure, released today. Read more: Eurozone manufacturing [...]
Jeremy Hunt reveals no-deal Brexit measures July 1, 2019 Jeremy Hunt will today pledge to ringfence £6bn to protect the UK’s fishing and farming industries from potential border delays and disruption in a no-deal Brexit. As Prime Minister, Hunt would also slash taxes to prepare for a sudden departure from the EU. Read more: UK prepares for no-deal Brexit with new freight plans The [...]
UK readies for no-deal Brexit with fresh freight plans June 29, 2019 The government is asking transport firms to make an offer to provide extra freight capacity that would be used in the event of a no-deal Brexit at the end of October. More than £85m was wasted in the lead up to the initial date the UK was due to leave the EU following a rushed [...]
Tory leadership contest: Boris Johnson plans emergency budget for no-deal Brexit June 28, 2019 Boris Johnson is set to outline an emergency budget featuring heavy tax cuts in the event of a no-deal Brexit, it is reported. Read more: Jeremy Hunt accuses Boris Johnson of getting Brexit facts wrong The Tory frontrunner and favourite to be Britain’s next Prime Minister has committed to leaving the EU with or without [...]