DEBATE: Is there any point in having a televised debate over Theresa May’s Brexit deal? November 29, 2018 Is there any point in having a televised debate over Theresa May’s Brexit deal? Mo Lovatt, lecturer in Cultural and Creative Industries and co-chair of The Great Debate, says YES. The message coming out of the Prime Minister’s office this week is that “people are bored with Brexit”, so it’s time to #BackTheBrexitDeal. The strategy is [...]
Brexit uncertainty drives car manufacturing down nearly 10 per cent, SMMT warns November 29, 2018 Car manufacturing fell by 9.8 per cent in October as global market turbulence and Brexit uncertainty continue to hit the industry. Figures from the Society of Motor Manufacturers and Traders (SMMT) out today show 15,255 fewer cars year-on-year came off production lines last month, marking the fifth consecutive month of decline. The influential trade body [...]
Legal sector contributes £26bn to UK economy November 29, 2018 The UK legal services sector grew 8.8 per cent to 342,000 jobs in 2017, an increase of 30,000 year-on-year, according to a report released today by TheCityUk. The output of the UK legal sector in 2016 was £26bn, the equivalent to 1.4 per cent of UK gross value added (GVA). The industry employs 107,000 people [...]
Critics accuse Bank of England of using its forecasts to play with politics November 28, 2018 The Bank of England sparked a row today after publishing analysis of its ‘worst case Brexit scenario’ just 13 days ahead of a crucial Parliamentary vote on Theresa May’s deal. The controversy was sparked when governor Mark Carney unveiled the Bank’s latest ‘stress test’ assessment of the UK’s ability to withstand dramatic economic shocks, including [...]
Bank of England governor Mark Carney tries, and fails, to prevent Brexit analysis frenzy November 28, 2018 House prices plummeting 31 per cent. Unemployment shooting up to 9.5 per cent. GDP collapsing by 4.3 per cent amid a sharp recession. These were the scenarios the Bank of England used to conduct its mandated “stress test” for some of the UK’s biggest financial companies back in 2016. Last year, the wonks at Threadneedle Street [...]
No-deal Brexit could result in eight per cent hit to UK economy, warns Bank of England November 28, 2018 A no-deal Brexit could cause the UK economy to fall eight per cent in a single year, the Bank of England warned today, leading to crashing house prices and surging unemployment. However, in a boost for the Prime Minister, the Bank said her withdrawal agreement and a close economic relationship with the EU could boost GDP by [...]
John McDonnell agrees Labour support for new Brexit referendum is ‘inevitable’ November 28, 2018 Labour’s John McDonnell believes it is “inevitable” his party will soon back another referendum on Brexit. In an interview on Wednesday afternoon, the shadow chancellor gave the clearest indication yet Labour will fully endorse another vote on the UK’s relationship with the EU. Labour’s official position is it would push for a general election if Theresa [...]
Airbus could restart UK investment if parliament approves May’s Brexit deal November 28, 2018 Aerospace firms may resume investment in the UK’s industry currently put on hold if Prime Minister Theresa May’s withdrawal agreement is voted through parliament, Airbus told MPs this morning. Companies have either paused investment in the UK since the EU referendum or transferred it to other markets, executives told the Commons' Business, Energy and Industrial Strategy [...]
UK economy will be worse off under every Brexit scenario, government’s own analysis confirms November 28, 2018 The UK economy could take a 3.9 percent growth hit under a deal that resembles Theresa May's Brexit plan, the government has said. A report published on Wednesday morning argues that life outside the EU will leave the UK poorer than if it had stayed inside the bloc in a range of scenarios over the next 15 years. [...]
Jim Ratcliffe’s Ineos sides with May’s Brexit deal, urging MPs to vote for ‘the good of the country’ November 28, 2018 Chemicals giant Ineos has backed the government’s proposed Brexit withdrawal agreement, urging MPs to “put the good of the country ahead of political considerations” and vote it through. The company’s chairman, Britain’s richest man Jim Ratcliffe, this morning threw his weight behind the deal, saying it was sensible and gave space for final negotiations to take place [...]