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What do the Government’s Brexit Papers Mean for Your Business?

What do the Government’s Brexit Papers Mean for Your Business?

October 18th, 2017

On 9 October the Government released on its website the latest papers outlining its approach to international trade policy after Brexit. In its paper Preparing for our future UK trade policy, the government discusses the role of trade and the basic principles that will shape its future trade policy.

  • UK Inflation Hits 5-Year High
    October 17th, 2017

    UK Inflation Hits 5-Year High

    UK inflation in September came in at 3.0%, according to data published by the Office for National Statistics (ONS), regarding the country's economic activity. This is the highest inflation figure recorded since April 2012 and has fed the expectations for a Bank of England (BoE) rate hike in November. British pensioners are the most benefitted since their pensions will rise faster than wages next years, thanks to the triple-lock system. Unfortunately, real wages are still getting squeezed and small businesses expected a rise in business rates in 2018.

  • What is Theresa May Cooking in Brussels?
    October 16th, 2017

    What is Theresa May Cooking in Brussels?

    Ahead of this week’s EU summit where the EU27 leaders will decide whether sufficient progress has been made for the Brexit negotiations to move on to discussions of the future trade relationship, Theresa May has planned a surprise dinner for EU commission officials.

  • May Visits Brussels for Urgent Talks
    October 16th, 2017

    May Visits Brussels for Urgent Talks

    The Pound strengthened against the Euro and the US Dollar on news that Prime Minister Theresa May and Brexit Secretary, David Davis, will travel to Brussels today to meet Michel Barnier, the appointed European Union (EU) Brexit negotiator, and the president of the European Commission (EC), Jean-Claude Juncker. EU leaders are going to discuss the course of Brexit negotiations in the European Council summit later this week.

  • Do you Regret Voting for Brexit?
    October 13th, 2017

    Do you Regret Voting for Brexit?

    47 per cent of 1,680 people who took part in a poll for the Times believe Brexit is wrong. The YouGov survey is the clearest example, since the referendum result in June 2016, of the majority of British voters regretting Brexit.

  • Pound Rises On Brexit Hopes
    October 13th, 2017

    Pound Rises On Brexit Hopes

    The Pound strengthened against both the US Dollar and the Euro on news that Michel Barnier, the chief EU Brexit negotiator, might offer Britain a two-year transitional period deal in order to stay in the European Union (EU) market. Jean-Claude Juncker, the president of the European Commission (EC), watered down expectations when he commented that the UK will have to pay the bill if it wants to proceed to the second round of talks, but this didn't stop Sterling from climbing.

  • Last Brexit Conference: “Here We Are Again”
    October 12th, 2017

    Last Brexit Conference: “Here We Are Again”

    The chief Brexit negotiators for the UK and EU, David Davis and Michel Barnier, held their last press conference today, following the fifth round of Article 50 negotiations, amidst speculation that the talks have reached a stalemate.

  • UK Banks to Squeeze Consumer Credit
    October 12th, 2017

    UK Banks to Squeeze Consumer Credit

    The Pound edged up against the US Dollar and the Euro today. In the UK, banks are planning to reduce credit availability to the lowest level in the last eleven years as it was revealed by a Bank of England (BoE) survey. Theresa May, speaking in the House of Commons, vowed that there would be no delay in funding emergency plans, in case Britain doesn't reach a deal with the European Union (EU).

  • IMF Calls for Higher Taxes for Rich
    October 11th, 2017

    IMF Calls for Higher Taxes for Rich

    The International Monetary Fund (IMF) said today that higher income tax rates for the rich will tackle rising inequality

  • Pound Falls on Brexit Uncertainty
    October 11th, 2017

    Pound Falls on Brexit Uncertainty

    The Pound fell against both the US Dollar and the Euro as the UK government's unclear position fuels further Brexit uncertainty. Speaking to the Treasury Select Committee (TSC), Chancellor Philip Hammond said that he isn't setting aside contingency funds for Government departments in the case of no deal in the Brexit negotiations. Theresa May has already, however, stated that no deal is better than a bad deal. Hammond added that, in the case of a no-deal scenario, flights between Britain and the EU could be halted, with the British Airlines Passengers Association (BALPA) agreeing with him.

  • Catalan Independence or Not?
    October 10th, 2017

    Catalan Independence or Not?

    The political situation in Spain is complicated. Today might be the day that the head of the Catalan government, Carles Puigdemont, will declare Catalonia an independent state.

  • Pound Surges Against US Dollar
    October 10th, 2017

    Pound Surges Against US Dollar

    The Pound surged against the US Dollar when the Office for National Statistics (ONS) published a report which showed that the UK's manufacturing and industrial production, in August, grew with a stronger pace than expected by City's analysts. Unfortunately, the drop in the Pound's value after Brexit, didn't seem to revitalise British exports as the UK's trade in goods deficit widened in August. Imports rose by 4.2%, while exports fell by 0.7%.

  • Brexit Agreement Up to Six Years
    October 09th, 2017

    Brexit Agreement Up to Six Years

    The infighting and chaos within the Tory party has compromised the UK’s negotiating position in the Brexit talks. John Bruton, former Irish prime minister, said that the British government was divided and incapable of offering a clear strategy on the future relationship of the UK with Brussels.

  • Pound Rallies Ahead of May’s Speech
    October 09th, 2017

    Pound Rallies Ahead of May’s Speech

    The Pound recovered some of the losses it suffered last week, even though the divisions in the government continue to cause significant political turmoil. According to a Sunday Times report, Theresa May will examine the possibility of reshuffling the cabinet, after the Brexit-focused European Council on 19-20th October. May will speak today in the House of Commons and is expected to warn that progress in negotiations with the European Union (EU) won't be always smooth.

  • May Keeps Calm and Carries on
    October 06th, 2017

    May Keeps Calm and Carries on

    Despite calls for her to resign, Theresa May hit back and said that what the country needs is her “calm leadership” and the full support of her Cabinet.

  • Pound Sinks on Theresa May Uncertainty
    October 06th, 2017

    Pound Sinks on Theresa May Uncertainty

    The Pound hit a one-month low against the US Dollar and a three-week low against the Euro as the political turmoil in the UK takes a toll on the British currency. The pressure on Theresa May to quit increased when Grant Snapps, who has served as Tory chair, said that some cabinet ministers privately agree that the prime minister should be removed from position and call for a leadership election.

  • Tories Call for May to Resign
    October 05th, 2017

    Tories Call for May to Resign

    Things can only get better, or worse, depending on how Theresa May deals with rumours of her resignation, which recirculated yesterday after her speech at the Conservative party conference. The speech, and speculation on May’s leadership have caused the pound to drop.

  • Sterling Drops After May’s Speech
    October 05th, 2017

    Sterling Drops After May’s Speech

    Sterling dropped against the Euro and, to almost a one-month low, against the US Dollar, as Theresa May's speech in the Tory conference yesterday seems to have totally backfired. The speech was intended to strengthen her leadership, but a series of unfortunate events turned it into a nightmare for the British prime minister. The Telegraph wrote that some MPs are ready to ask for the Prime Minister's resignation, while Downing Street rushed to say that "resignation isn't an issue."

  • You’re Fired: Comedian Gives May her P45
    October 04th, 2017

    You’re Fired: Comedian Gives May her P45

    Theresa May gave her speech today to the Conservative Conference in Manchester, as the comedian and serial prankster Simon Brodkin, also known as Lee Nelson, evaded security and interrupted her speech to hand her over a fake P45.

  • Positive UK Services Sector Boosts Pound
    October 04th, 2017

    Positive UK Services Sector Boosts Pound

    Sterling strengthened against the US Dollar and the Euro, having received a boost from positive UK services data. IHS Markit published its September Services Sector PMI data which showed that activity improved modestly after hitting an eleventh-month low in August. The survey's result was unexpected and eased concerns of a sharp economic slowdown, making traders buy the Pound.

  • Should Boris Stay or Should He Go?
    October 03rd, 2017

    Should Boris Stay or Should He Go?

    Manfred Weber, the German MEP and member of the Christian Social Union in Bavaria, which is part of the European People’s Party, said today that Boris Johnson should be fired so that the Brexit negotiations progress

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