UK car production falls for third consecutive month in August September 27, 2018 UK car production declined for a third consecutive month in August by 13 per cent, due to model changes and maintenance shutdowns, the Society of Motor Manufacturers and Traders (SMMT) has said. Around 89,254 cars were produced last month. Domestic production fell by nearly 40 per cent while exports were down by 3.8 per cent to [...]
No-deal Brexit could lead to tariffs of £9.3bn on EU food, report warns September 27, 2018 Food and drink costs could increase by £9.3billion a year if the UK does not slash tariffs in a 'no deal' Brexit, a new report has warned. Research by Barclays claims leaving the EU without a trade agreement would create an average tariff of 27 per cent on food and drinks coming from the [...]
DEBATE: Is Labour looking more like a credible government-in-waiting after this year’s conference? September 27, 2018 Is Labour looking more like a credible government-in-waiting after this year’s conference? Finn McRedmond, staff writer at Reaction, says YES. In his keynote speech yesterday, Jeremy Corbyn said to Jim O’Neill, former Tory minister and Goldman Sachs economist: “You’re welcome, come and join us in the new political mainstream.” This was the pervasive sentiment: [...]
The shadow chancellor: A thief who plans to rob British business blind September 27, 2018 Somebody has got to say it: the shadow chancellor John McDonnell is a thief (well, an aspiring thief), with his planned 10 per cent giveaway of company equity to workers. The Theft Act 1968 says a person is guilty of theft if he dishonestly appropriates property belonging to another with the intention of permanently depriving [...]
City firms hold back Brexodus in hope a deal can be reached September 27, 2018 City of London firms have so far held back from relocating jobs to the EU with just 630 UK finance roles moving abroad since the Brexit vote, according to an in-depth survey published yesterday. A Reuters poll of 134 major financial firms found that a total of 5,800 could still be shifted abroad in [...]
Theresa May and Jeremy Corbyn set out competing economic visions in major speeches September 26, 2018 Theresa May and Jeremy Corbyn set out competing visions of Britain's future on Wednesday with two radically different speeches on the economy. Addressing the Bloomberg Global Business Forum in New York, May praised free markets and vowed to slash the UK's corporation tax to the lowest rate in the G20 after Brexit. As the PM addressed [...]
Philip Hammond confirms October date for Autumn budget September 26, 2018 Chancellor Philip Hammond has announced that this year's Autumn budget will be delivered on 29 October. I’m pleased to announce the Budget will take place on 29 October. I’ll set out how our balanced approach is getting debt falling while supporting our vital public services, and how we are building a stronger, more prosperous economy. [...]
The Tories must tackle the growing confidence of socialists – and the growing attractiveness of socialism September 26, 2018 Two party leaders gave speeches on Wednesday. One, in New York, praised the free-market as “the greatest agent of human progress” and pledged “a post-Brexit Britain will be an unequivocally pro-business Britain.” The other, in Liverpool, lashed out at “a failed economic system” in which “millions of people” are a mere “side show for [...]
Deal or no deal: Do UK supply chains have what it takes? September 26, 2018 Waking up to doom and gloom headlines about Brexit is becoming a regular occurence. The latest panic? Stockpiling. If the UK leaves the EU without a deal – which is now a distinct possibility – importers could face massive delays at customs due to increased administrative processing at border points. Dover, will be the key choke [...]
Jeremy Corbyn vows to vote down Chequers deal as he calls for UK to stay in a customs union September 26, 2018 Jeremy Corbyn has confirmed he would vote down Theresa May's Brexit plan as part of a gamble to trigger a general election. In his keynote speech to Labour's conference on Wednesday, Corbyn said his MPs would not back May's so-called Chequers proposal, but would also oppose leaving the EU without any trade deal. He claimed [...]