UK launches post-Brexit trade scheme for 65 developing countries extending tariff cuts August 16, 2022 The UK has launched its post-Brexit scheme to support trade with developing countries, extending tariff cuts to hundreds of products. The Developing Countries Trading Scheme (DCTS) was announced today by International Trade Secretary Anne-Marie Trevelyan, in a bid to go further than the EU’s Generalised Scheme of Preferences. The initiative covers 65 countries Africa, Asia, [...]
Brits in EU slide into Brexit banking limbo as some UK banks shut their accounts August 15, 2022 Thousands of Brits residing in the EU have been informed by UK banks that their EU-based bank accounts will soon be shut. A range of British banks, including Barclays, have told UK citizens living in the EU that they will no longer be able to have and use their account in member states, primarily in [...]
The Thatcherite darling narrative needs to be an election-winning story August 15, 2022 The battle for the leadership of the Conservative Party grinds on. Policy ideas are thrown out like bait from a fisherman, with Rishi Sunak declaring his support for grammar schools and Liz Truss throwing her weight behind allowing more seasonal workers into the UK. In the longer run, though, as the contest rolls towards a [...]
Exclusive: Energy boss slams Lord Frost for ‘guilty men’ net zero criticism August 14, 2022 The boss of a UK supplier has slammed net zero critics who have blamed renewables and climate policies for the ensuing energy crisis.
Exclusive: Whitehall frustration at Johnson’s October deadline for UK-India trade deal August 12, 2022 Whitehall officials have raised concerns about Boris Johnson’s October deadline for a UK-India trade deal, with suggestions the PM’s “freestyling” could mean a lighter agreement than originally hoped. Johnson and Indian Prime Minister Narendra Modi agreed during an April meeting that there would be a “trade deal by Diwali”, which is on 24 October this [...]
Conservatives are paralysed by a false idea of what the ‘take back control’ means August 12, 2022 The Brexit promise to “take back control” has been translated to mean scrap all European regulation
Truss backs Bank of England review to ensure ‘it is fit for purpose’ August 11, 2022 The biggest overhaul of the Bank of England in 25 years may be needed to ensure “it is fit for purpose,” Tory leadership front-runner Liz Truss’s campaign told City A.M. today. The comments represent an escalation in Truss’s drive to shake up the regime overseeing the Bank’s performance. She has promised to review Threadneedle Street’s [...]
Sunak or Truss should have ‘backbone’ to strike free movement deal with EU, says Ryanair chief August 11, 2022 The next prime minister should have the “backbone” to secure a deal with the European Union to open up the free movement of labour, Ryanair’s chief executive Michael O’Leary said this morning. He told BBC Radio 4’s Today programme: “I think the first thing they should do to boost the British economy is prioritise a [...]
FCA to swoop on City’s asset managers over misleading ESG investment August 10, 2022 The UK’s City watchdog is poised to swoop on asset managers if they promote “misleading” sustainable investments, as it prepares to ramp up its scrutiny of the ‘environmental, social and governance’ (ESG) label.
Brexit: Truss wants ‘call in’ power to allow ministers to overrule City regulators August 10, 2022 Liz Truss wants to give ministers the power to overrule decisions made by the UK’s financial services regulators in a move that is set to create serious tensions with the Bank of England. The Tory leadership frontrunner wants to revive the policy, which was recently ditched by the Treasury, as a part of the government’s [...]