DEBATE: Should the new chancellor suspend the IR35 tax regulation changes? February 18, 2020 Should the new chancellor suspend the IR35 tax regulation changes? Alasdair Hutchison, policy development manager at IPSE, says YES. We should be building a vibrant and competitive economy after Brexit, not making it harder to do business or under-mining our flexible labour market, one of the UK’s main competitive advantages. Businesses are simply not prepared [...]
UK and EU need to rebuild trust to reach agreement on equivalence, report warns February 18, 2020 The UK and EU must rebuild trust “at a political level” before they can reach an agreement on the City’s future regulatory relationship with the bloc, according to a new report. Britain is seeking “comprehensive” or “permanent” equivalence with the bloc to ensure the City maintains permanent access to EU markets, but the EU has [...]
EU ‘fails to see the point’ on UK’s trade stance, claims Frost February 17, 2020 Britain’s desire to step away from the EU’s rules is not “some clever tactical position” but the entire point of Brexit, Boris Johnson’s chief negotiator has told Brussels. In a stark warning that the UK would not capitulate to demands over the so-called level-playing field – which includes rules around competition, the environment and tax [...]
Mifid II review could lead to unexpected changes says former MEP February 17, 2020 A key contributor to the European Mifid II financial regulations today warned that plans for reforms of the rules could lead to unexpected consequences. The European Commission today launched a consultation on changes to the Mifid II rules, with possible changes including the establishment of a single record of trading data from the separate national [...]
Fearing the wurst: UK to lose right to sell sausages to the EU after Brexit February 17, 2020 UK food manufacturers could be blocked from selling fresh sausages and mince to the EU after Brexit, a retail sector lobbying group has warned as Britain gears up for trading negotiations with the bloc. Non-member countries must obtain an export health certificate for products of animal origin to enter the EU, but no licence exists [...]
Surge in optimism for UK food sector but Brexit uncertainty lingers February 17, 2020 The UK’s food and drink manufacturing sector has reported a surge in optimism as it entered the new year as renewed political certainty boosted business confidence. Optimism jumped 29 percentage points in the final three months of last year compared to the first quarter of 2019. However, despite the outcome of December’s General Election, net [...]
DfT unveils plan to head off Brexit-induced mega traffic jams in Kent February 17, 2020 The government is to deploy a San Francisco-style moveable barrier in the hope of avoiding Brexit-induced mega traffic jams throughout Kent. The £60m moveable barrier, creating a temporary contraflow system, can be set up “within hours” and will be available from December, transport secretary Grant Shapps revealed this morning. Although the UK has officially left the [...]
UK confidence in household finances hits record high February 17, 2020 UK households’ perceptions of their financial wellbeing rose to their highest ever levels this month in a sign of growing optimism over the UK’s economic prospects. IHS Markit’s UK Household Finance Index (HFI) – which measures households’ overall perceptions of financial wellbeing – increased to 47.6 in February, up from 44.6 in January. Although the [...]
Seven reasons why London will thrive regardless of Brexit February 17, 2020 In the three-and-a-half years since the UK voted to leave the European Union (EU) much has been written about how London’s status as a global leader in financial services could be weakened. However, with a diverse economy, highly skilled workforce, wide tourist demand, world-class universities and cultural appeal, London will not only survive Brexit, but [...]
Monzo plans to relaunch paid-for accounts and hire another 500 staff February 17, 2020 British fintech darling Monzo plans to recruit another 500 people as it targets 5.5m users this year and bids again to turn those numbers into a profit. Monzo, which is valued at around £2bn, is set to relaunch paid-for accounts in the first quarter of 2020 after a failed introduction last year, when it reversed [...]