Brexit: ‘We will see to it that our interests are respected and UK’s word is kept’, warns French PM October 29, 2021 The French embassy in the UK has highlighted comments by French prime minister Jean Castex, saying that while Paris would like “de-escalation” it was down to the British Government to keep its word. “I’d like nothing more than for there to be a de-escalation,” Castex said. “We are permanently open to discussions, but I want [...]
Brexit: Truss summons French ambassador as fishing row escalates further October 28, 2021 France’s ambassador to the UK has been summoned to meet foreign secretary Liz Truss tomorrow as Paris refuses to back down over its threats to ban UK seafood and impose trade barriers. Truss said she wanted ambassador Catherine Colonna to explain to the UK’s Europe minister Wendy Morton the “disappointing and disproportionate threats made against [...]
Budget: Millions of Brits to face ‘real pain’ as rising cost of living and taxes will bite October 28, 2021 Rising costs and tax increases will leave tens of millions of Brits worse off, economists said today. Their warning comes as experts are ploughing through yesterday’s Budget. Rishi Sunak had claimed his Budget is a strategy to “usher in a new age of optimism”, but a leading economic think tank warned the public “may not [...]
Brexit: UK says France will break international law if it bans British seafood October 28, 2021 The UK has said France’s decision to ban British seafood exports and clamp down on cross-Channel trade next week will break international law and the post-Brexit trade deal. Environment secretary George Eustice said this morning that if France carries out its threats that it “will be met with an appropriate and calibrated response” as the [...]
Budget: UK tech and fintech startups face higher bills after tax credit restrictions – CityAM : CityAM October 28, 2021 The UK’s burgeoning tech startup and fintech sector will be hit by the new restrictions on the use of R&D tax credits announced in the Budget, industry insiders warn this morning. From April 2023, businesses will only be able to claim R&D tax credits on research and development work done in the UK. As UK [...]
France detains British boat amid ongoing Brexit fishing conflict October 28, 2021 A British trawler has been detained by authorities in France as an ongoing dispute over fishing rights increasingly escalates. It has emerged that two boats were fined late last night after one failed to comply with checks by police and the other was found not to hold a proper licence, according to the French maritime [...]
Forget the pandemic: Brexit’s impact on UK economy will be much worse, warns fiscal chief October 28, 2021 The consequences of the UK leaving the European Union will be much more serious than the economic impact of the pandemic, the boss of the UK’s fiscal watchdog warns this morning. The Office for Budget Responsibility (OBR) had assumed leaving the EU would “reduce our long run gross domestic product by around 4 per cent”, [...]
Shell earnings slide as shareholders miss out following £3.4bn pay day – CityAM : CityAM October 28, 2021 Shell adjusted earnings slipped 25 per cent to $4.1bn in its third quarter unaudited results, while its shareholders missed out following their hefty pay day. Shareholders lost $477m in the period, after raking in $3.4bn in the previous quarter. The energy giant’s net debt shrank to $57.4bn in the quarter, while free cash flow increased [...]
France to ban UK seafood in retaliation for withholding fishing licences October 27, 2021 France will next week ban British seafood exports and disrupt trade of other goods if the UK does not grant a swathe of fishing licences. French President Emmanuel Macron escalated the feud between himself and Downing Street today, with Elysee spokesperson Gabriel Attal saying “we won’t let the British wipe their feet on the Brexit [...]
Green Budget 2021: Net zero strategy to receive around £11.4bn in new funding October 27, 2021 The government is set to inject more than £11.4bn in new funding into its net zero strategy, according to chancellor Rishi Sunak’s Autumn Budget today. The fresh capital will go towards “the new, green industries of the future”, Sunak said this afternoon. “We are making this country a science and technology superpower”. It will mean [...]