Brexit: UK makes final EU payment in £2.3bn China import fraud dispute February 10, 2023 The Government has paid £2.3bn to the EU as part of a long-standing dispute over textiles and footwear imported into the UK from China. The final payment of £1.1bn made this week, brings the case to a close. Chief Secretary to the Treasury John Glen confirmed the payment in a written statement to the Commons. [...]
Brexit: UK Supreme Court rules Northern Ireland Protocol is lawful February 8, 2023 The UK Supreme Court has ruled the Northern Ireland Protocol is lawful, rejecting a legal challenge to the Brexit process. The legality of the contentious trading arrangements has been challenged by a collective of unionists and Brexiteers. Judge Lord Stephens said in his ruling: “The most fundamental rule of UK constitutional law is that Parliament, [...]
Legal & General CEO would like to see UK ‘move more quickly’ on Solvency II reforms February 8, 2023 Insurance giant Legal & General would like to see the UK “move more quickly” in reforming the EU rules that govern Britain’s insurance sector, the head of the FTSE 100 firm’s pensions buyout segment told City A.M. Andrew Kail, chief executive of L&G’s institutional retirement business, called for “clarity” on the UK’s plans to reshape [...]
Brexit supporters admit leaving EU was a ‘disaster’ after ‘a drink or two’, ex home sec Amber Rudd says February 6, 2023 Former home secretary Amber Rudd has claimed that some Brexiteers, after “a drink or two”, will admit that the decision to leave the EU has been a “disaster”. Ms Rudd, who stood down as an MP in 2019 amid internal Tory Party clashes over the handling of Brexit, also said she could not be in [...]
Brexit activist Gina Miller claims deputy PM Dominic Raab launched ‘abusive attack’ on her as bullying row rumbles on February 3, 2023 Deputy Prime Minister Dominic Raab is facing a fresh claim of bullying after an anti-Brexit campaigner alleged he launched an “abusive attack” on her. Gina Miller said Mr Raab, who was also appointed as Justice Secretary by Rishi Sunak, was “aggressive and intimidating” during an “aggressive encounter”. A source close to Mr Raab, who denies [...]
Brexit ‘starting to bite’ three years on but City holds out hope for Edinburgh reforms February 1, 2023 City figures are yet to be convinced by the benefits of Brexit three years down the line, but hold out hope that the government’s Edinburgh reforms could turbocharge growth in the sector over the next few years. While the City has avoided a mass exodus of jobs and maintained its status as one of Europe’s [...]
Sunak hails Britain’s “huge strides” since Brexit three years ago – though polls disagree January 31, 2023 Britain has taken “huge strides” in taking advantage of the opportunities opened up by Brexit to address the challenges facing the country, Rishi Sunak has said. In a statement to mark the third anniversary on Tuesday of the UK’s withdrawal from the EU, the Prime Minister said the country is confidently forging a new path as an [...]
Marks and Spencer’s chairman Archie Norman: Plans to ease post-Brexit trade ‘overbearing and baffling’ January 26, 2023 Marks & Spencer’s chairman has become the latest business leader to criticise the Government’s economic policy, with Archie Norman calling plans to ease post-Brexit trade “overbearing” and “baffling”. Norman, who is also an ex-Conservative MP, has urged the Foreign Secretary during talks with the EU not to consider separate labelling for goods sold in Northern [...]
Davos round-up: BoA ‘over-achieved’ on hiring, Morgan Stanley’s succession plan and Shapps searches for Britain’s Silicon Valley January 19, 2023 As some of the world’s most important CEOs, politicians and thinkers gather at the World Economic Forum in Davos, City A.M. wraps up some of the top lines from the day. US bank layoffs Major Wall Street lenders have been forced into making large scale redundancies in the face of a global economic slowdown. Goldman’s [...]
Brexit law bonfire could put environment at risk and cost tens of billions of pounds, nature groups warn January 19, 2023 Nature organisations have hit out at legislation that they say could lead to the loss of important environmental protections and cost the UK tens of billions of pounds. The Retained EU Law (Revocation and Reform) Bill, which returns to the Commons on Wednesday, is designed to make it easier for the UK Government, via Parliament, [...]