Brexit: UK share of EU export and import trade tumbles further as cross-Channel trade declines January 31, 2022 The UK’s share of EU27 goods exports fell from 6.2 percent in 2019 to 5.2 percent last year, while its share of EU27 goods imports fell from 3.9 percent to 2.6 percent over the same period, according to new figures published in Germany today. The decline comes after Britain’s share of exports dropped from 7.1 [...]
Weekend Read: Brexit and the pandemic have cost UK businesses £250bn, each January 30, 2022 The political choice of Brexit has cost UK businesses as much as the unforeseeable Covid pandemic. British companies have lost over £250bn to Covid and an equal amount to Brexit by the end of 2021, but the Brexit tally is now rising faster, The Centre for Economics and Business Research found that Covid-19 lockdowns had [...]
Brexit border: UK and EU have ‘months to stop tourist traffic grinding to a halt’ if no deal is reached January 29, 2022 British tourists headed for city breaks in Paris or sunny getaways in Spain in September could be hit by new biometric checks set to be required at the border. In fact, the UK has just months to avoid huge disruption to holidaymakers when new EU rules come into force – despite knowing about the problem [...]
DUP minister plans to halt all port checks in Northern Ireland as Brexit row heats up January 28, 2022 Stormont’s First Minister has said has said a DUP Stormont minister will act unilaterally to halt Brexit checks at Northern Ireland ports. Paul Givan said his party colleague Edwin Poots will order a stop to the controversial checks after a failed bid to secure the wider approval of the Stormont Executive to continue them. The [...]
Global Britain: Covid and Brexit offer an ‘opportunity to reset’ relations on union January 23, 2022 A Lords committee said this week that the challenges caused by Brexit and the pandemic present an “opportunity to reset relationships” between the UK Government and devolved nations. The upper house’s Constitution Committee published a report on Thursday, calling for a shift in how the union operates, shoring it up for the 21st century. Among [...]
Brexit: Finland, Luxembourg, Portugal and Greece are exploiting Brexit as UK exporters are being ‘replaced’ January 23, 2022 Smaller EU countries are benefitting from Britain’s departure from the European Union. This is largely because they fill up the Brexit exporters’ spots. In fact, this situation could reduce the UK’s exports to the EU by -7.73 per cent by 2025, according to new analysis shared with City A.M. this week. The top three countries [...]
Brexit onslaught: A third of all British business owners is not sure their company will still exist in a year’s time January 23, 2022 Nearly one in three fear their company will close before the end of this year, primarily as the long-term effects of Brexit start to bite, according to alarming data shared with City A.M. this week. A slightly bigger number, 37 per cent, don’t think their business will survive until the end of 2027, as more [...]
Post-Brexit move to replace EU state aid rules clears first hurdle January 20, 2022 A post-Brexit move to replace EU state aid rules has cleared its first hurdle in the House of Lords. The Subsidy Control Bill received an unopposed second reading by peers. The legislation sets out how central government, devolved administrations, local authorities and other public bodies should make decisions to award subsidies. The new regime replaces [...]
Brexit: Sigh of relief in the City as Brussels extends clearing deadline for EU banks and finance firms until 2025 January 19, 2022 Brussels has climbed down from a deadline to pull European finance firms’ access to London clearing houses, the bloc’s finance chief announced today. Europe is planning on extending temporary permits allowing banks, brokers and fund managers on the Continent to use UK clearing houses until June 2025. The news was first reported by the Financial [...]
€200bn moved across Irish Sea since Brexit: Balance sheets of global banks in Dublin swell to record €500bn January 19, 2022 The Irish balance sheets of a range of global banks that run international operations from Dublin has ballooned to more than half a billion euros. As a result, Dublin is gradually becoming a major banking hub within the EU, adding as much as €200bn to banks’ balance sheets since the UK voted to leave the [...]