Brexit red tape onslaught deepens as UK economy loses £47bn because businesses drown in cross-border tax complexities May 18, 2022 Cross-border tax complexities cost the UK economy £47.6bn in lost revenue last year, an average revenue loss of 16 per cent on total EU exports, according to fresh industry data shared with City A.M. this morning. The stresses of navigating complex regulations post-Brexit continues to hold back growth for UK exporters, and is causing significant [...]
Impact of post-Brexit trade deal with New Zealand examined by parliamentary committee May 18, 2022 Post-Brexit trade with New Zealand is being brought into focus this morning, with Westminster’s top trade committee examining the impact of the free trade deal signed in February. The arrangement between the UK and the Pacific nation, which is more than 18,000 miles away, is being looked at by two panels, focusing on services and [...]
Brexit: Government finds UK unity more important than potential trade war with EU, says minister May 18, 2022 The Northern Ireland Minister said this morning that the unity of the country outweighs the potential impact of a trade war with the EU. Conor Burns said he expects to reach a compromise with the EU, though legislation would be brought before Parliament regardless. On the threat of a trade war with the EU, he [...]
Brexit: UK announces plan to kill off Northern Ireland protocol, outrage and disbelief in EU capitals May 17, 2022 Foreign Secretary Liz Truss just announced the Government’s intention to introduce legislation “in the coming weeks to make changes in the [Northern Ireland] protocol”. She told the Commons: “As the Prime Minister said, our shared objective has to be to find a solution that commands the broadest possible cross-community support for years to come and [...]
Brexit tensions rising amid UK-EU trade war drawing closer as Britain plans to kill off Northern Ireland deal today May 17, 2022 Liz Truss is expected to announce the government’s intention to bring forward legislation which rips up parts of the UK’s post-Brexit trade deal on Northern Ireland. It is understood that the Foreign Secretary will make the announcement in a statement to the Commons following a full Cabinet meeting, in an attempt to restore power-sharing in [...]
Brexit: EU is causing serious political instability in Northern Ireland, warns former secretary of state May 17, 2022 Former secretary of state for Northern Ireland Theresa Villiers has slammed the European Union for its “unreasonable” approach on the customs protocol and said the Government is right to act unilaterally. Villiers said the government is correct to ensure national unity and that its proposals represent a reasonable compromise with the EU. “I’m sure negotiations [...]
Economists hit back at Cable post-Brexit financial services regulation fears May 17, 2022 THINK TANK economists said yesterday fears that post-Brexit changes to financial services regulations could result in a ‘race to the bottom’ are “clearly nonsense.” Earlier this week former business secretary Vince Cable warned that changes to the UK regime could risk a financial crash in a letter signed by a number of other economists. But [...]
Trade war fears grow as Boris Johnson issues final Brexit warning to EU: If Brussels does not give in Britain ‘will act’ May 16, 2022 As Boris Johnson prepares for a visit to Northern Ireland later today, the Prime Minister has warned the EU the UK will have a “necessity to act” if the Brussels is unwilling to reach a compromise in the deepening crisis over the Northern Ireland Protocol. The Prime Minister – who travels to Belfast today for [...]
Jacob Rees-Mogg adds fuel to the Brexit fire: ‘The EU is trying to punish the UK’ May 13, 2022 Jacob Rees-Mogg has claimed the EU is trying to punish the UK for Brexit. The Minister for Brexit Opportunities and Government Efficiency said about the ongoing talks with the EU: “I think it [the EU] wants to make the UK feel bad about having left the European Union and that underpins its whole policy and [...]
Bank of England adds Brexit critic to rate setting committee May 13, 2022 The Bank of England (BoE) has appointed a strong critic of Brexit to its key rate setting monetary policy committee.