UK economy shrank 2.9 per cent in January as third lockdown took hold March 12, 2021 Monthly GDP fell by 2.9 per cent in January as a fresh national lockdown took hold of the UK economy, according to new ONS data. The January figure, which was 9 per cent below its February 2020 level, was driven by a decline of 3.5 per cent in services, the Office for National Statistics said. [...]
Consumer business leaders to ramp up cost-cutting measures this year, survey finds March 11, 2021 The economic pain caused by the pandemic is set to continue in the consumer business sector, as most bosses said they will continue to cut costs for the foreseeable future. Research showed that 73 per cent of chief executives and chief financial officers are planning to ramp up cost reduction programmes this year due to [...]
Government looks at widening review into financial markets March 11, 2021 The government is planning to widen its review into financial markets as it looks to boost London’s prospects after Brexit. John Glen, economic secretary to the Treasury, said the government is reviewing financial rules to include regulations on market structure, transparency rules and commodities. It comes just a week after Lord Hill’s review into stock [...]
Brexit: UK postpones new checks on EU goods for six months March 11, 2021 The UK has today moved to postpone implementing post-Brexit checks on food coming from the EU for another six months. Boris Johnson’s UK-EU relations chief Lord David Frost said the decision was made to give traders time to focus on reopening as the Covid restrictions are eased instead of spending time on the extensive new [...]
One-in-five UK exporters turn away from EU post-Brexit, says IoD March 11, 2021 One-in-five UK exporters turn away from EU post-Brexit, says IoD
EU’s ambassador to UK calls for more trust in post-Brexit relationship March 11, 2021 The EU’s ambassador to Britain has today said there needs to be more trust in the UK-EU post-Brexit relationship as rows over vaccines and Northern Ireland rage on. Ambassador João Vale de Almeida told journalists today that “trust is the most important commodity in international relationships” and that “when levels of trust go down you [...]
Stamping ‘Made in UK’ on products could boost exports by £3.5bn March 11, 2021 Pride of Britain: Stamping 'Made in UK' on cheese, lamb, booze and cars could boost exports by £3.5bn
Brexit: UK food manufacturers to face millions of pounds of new red tape costs March 11, 2021 British food exporters are set to be hit with millions of pounds of new costs due to new EU post-Brexit bureaucracy from next month. From 21 April, Brussels will make some UK food manufacturers fill out new health assessment forms when exporting to the EU that will increase paperwork by around one-third. The new red [...]
CBI calls for ‘fundamental change’ to UK tax system to achieve climate change goals March 11, 2021 One of the UK’s most influential business groups has called for the government to deliver wholesale changes to the country’s tax regime in order to hit its 2050 net zero target. The CBI said that instead of making changes to individual taxes, ministers should instead pursue “fundamental change with a holistic, coherent tax plan”. It [...]
Downing Street says UK-EU vaccine row will not affect Moderna vaccine shipments March 10, 2021 The ongoing UK-EU vaccine row will not disrupt millions of Europe-manufactured Moderna vaccines set to arrive in Britain throughout spring, according to Downing Street. Boris Johnson’s spokesperson today said the government “remains confident” of its vaccine supplies and that “we’ll use the Moderna vaccine from spring”, despite an escalating row over vaccine supplies with Brussels. [...]