Mark Carney told to clarify dramatic house price fall warning in case of ‘no-deal’ Brexit October 11, 2018 Bank of England governor Mark Carney needs to clarify whether house prices would be slashed by a third in a 'no deal' Brexit, the chair of the Treasury select committee has insisted. Nicky Morgan has written to Carney asking him to clear up exactly what he told the Cabinet on September 13 during a presentation [...]
Chris Grayling berated as work begins to turn motorway into ‘no deal’ Brexit lorry park without telling residents October 11, 2018 A Tory MP is furious work has begun to turn a motorway in his consistency into a "parking lot" in case of no deal Brexit without him knowing. Tom Tugendhat, Conservative MP for Tonbridge and Malling in Kent, berated Transport secretary Chris Grayling for work beginning overnight on the M26. Part of the M26 will [...]
Stockpiling, sterling plunge, and demand slump consequences of no-deal Brexit warns Budget watchdog October 11, 2018 The government’s independent budget watchdog today warned that a no-deal Brexit would likely prompt a wave of stockpiling, plunging asset prices and a slump in demand in the British economy. The Office for Budget Responsibility (OBR), the body tasked with producing economic forecasts based on government policy, warned that increased barriers to trade will have [...]
HMRC boss received death threats after revealing £20bn cost of Brexiters’ customs plan October 11, 2018 The UK's chief taxman received death threats after revealing it would cost £20bn to put in place the hard-Brexiters' customs plan, he revealed today. Jon Thompson, chief executive of HMRC, told MPs the figure in May as he gave evidence on a range of post-Brexit systems. The system, dubbed maximum facilitation, or 'max fac', would see [...]
UK startups hold onto Europe’s venture crown with £1.4bn in funding October 11, 2018 UK startups continued to draw in attention from venture capital (VC) firms in the third quarter as Europe’s premier investment hotspot, posting a £1.4bn total draw in the three months to September compared to £1.31bn in the same quarter last year. Data compiled by KPMG Enterprise revealed the UK remained at the top of the [...]
UK banks risk being downgraded in no-deal Brexit situation October 11, 2018 UK banks could be downgraded in the event of a no-deal Brexit, according to ratings agency Standard & Poor. The agency's position is that the UK will successfully negotiate a deal that provides a period of continuity for financial institutions, however it said that if the UK crashes out of the European Union in March [...]
Blockchain, Brexit, and the Irish border – how technology can help to solve this delicate problem October 11, 2018 With less than six months to go until Brexit, one of the biggest sticking points in the negotiations between Britain and the European Union remains undoubtedly the issue of the Irish border. If the UK does decide to leave the EU’s single market and customs union, it will become necessary to control and monitor goods [...]
Prime central London house price growth to stay flat until 2021, thanks to stamp duty and Brexit October 11, 2018 Homeowners hoping to see a recovery in London’s high-end housing market may find themselves waiting a little longer, according to new Savills analysis that suggests growth will not return to the capital’s most expensive properties until 2021. Brexit uncertainty and a newly proposed stamp duty surcharge on foreigners is likely to “temper recovery”, with Savills [...]
It’s a mistake to dismiss the Anglosphere as mere romance – it could be the future October 11, 2018 The Prime Minister’s strong point is not vision, particularly when it comes to post-Brexit Britain. But as the Chequers Agreement dies a slow death, she would do well to consider the possibilities for a much wider geopolitical shift with regard to the so-called Anglosphere. A Canada+++ agreement with the EU could lead to trade agreements [...]
Theresa May’s crude policy is the wrong way to manage immigration October 11, 2018 The government's announcement of a new immigration policy post-Brexit has at least the merit of providing a clearer sense of direction – assuming Brexit happens and does so in a reasonably orderly way (which are some big “ifs”). The news also provides an opportunity to think, from first principles, what a sensible immigration policy should [...]