As Toyota says it’ll invest £240m in its UK plant, has the threat of Brexit to carmakers been overplayed? March 17, 2017 Daniel Mahoney, deputy director at the Centre for Policy Studies, says Yes. The prospect of a 10 per cent tariff on UK car exports to the EU is unnerving for the automotive industry. However, developments since the EU referendum are reason to remain positive. Both Nissan and now Toyota have announced major investments in the [...]
Plans for £4bn restoration of parliament need further challenging and testing before green light is given, says Treasury Committee March 17, 2017 It would be "imprudent" for MPs to commit to the restoration of parliament that could cost up to £4bn, without more work being carried out into "the hugely expensive project", the Treasury Select Committee warned today. The Committee has launched an inquiry into the project which will cost between £3.5bn and £4bn, if carried out over [...]
The White House is now suggesting Britain’s GCHQ spied on Donald Trump March 16, 2017 The White House press secretary has now suggested British agents could have helped former President Barack Obama spy on Donald Trump. Sean Spicer echoed a claim originally made by an analyst on Fox News that GCHQ spied on Trump Tower during the US election. "He's able to get it and there's no American fingerprints on it," [...]
Theresa May vows to protect Britain’s “precious” union through Brexit talks March 16, 2017 Prime Minister Theresa May will tomorrow vow to protect the UK's “precious” union as she hits back at plans for a second independence referendum in Scotland. Speaking in Cardiff, May will lay out an expanded “Plan for Britain”, vowing to put Britain first and issuing a warning to Scottish first minister Nicola Sturgeon. Expanding on the themes [...]
Irish minister says the UK’s Brexit plan is “encouraging”, despite admitting desire for details March 16, 2017 Ireland's education minister has backed the UK's approach to Brexit as "encouraging" and stressed commitment to an open border with Northern Ireland, regardless of the outcome of trade negotiations. Fine Gael minister Richard Bruton said he supported a February white paper from Prime Minister Theresa May's ministers, despite admitting that European governments would like to see more detail [...]
Germany’s finance minister has called for London to remain a “strong” finance centre after Brexit March 16, 2017 The German finance minister has given the City a strong vote of confidence ahead of Brexit negotiations, saying it's in the EU's best interest that London remains a strong financial centre after Brexit. Wolfgang Schaeuble said he would want to negotiate a deal in which the City remains a centre of finance as any move [...]
Investor relief at Dutch election: what next for stock markets? March 16, 2017 | City Talk European stock markets have expressed relief at the Dutch election result. Traders had been anxious and share prices put under pressure in the run up to polling day yesterday. But centre-right Prime Minister Mark Rutte saw off a challenge from the Party for Freedom (PVV), led by anti-immigration nationalist Geert Wilders. The election had been [...]
Theresa May: “Now is not the time” for a new Scottish independence vote March 16, 2017 Prime Minister Theresa May has given her clearest indication yet that she will block plans for a new Scottish independence referendum in the next two years. May has said that "now is not the time" for a second vote, despite Scottish first minister Nicola Sturgeon's call for a ballot to take place between Autumn 2018 and Spring [...]
Article 50 Brexit Bill has been made law after Queen grants royal assent March 16, 2017 Article 50, which will give Theresa May the power to begin the process of leaving the EU, has been granted royal assent. This means the Queen has formally approved the Brexit bill and has made it law. Following the announcement that Article 50 is now law, sterling fell against the dollar, and is now down [...]
Business Committee launches inquiry into electric vehicles to assess concerns over stalling sales March 16, 2017 The role of electric vehicles as part of the government's industrial strategy will be investigated by the Business, Energy and Industrial Strategy (BEIS) Committee. The BEIS Committee has launched an inquiry today to scope out the barriers to the market's development and look into concerns that sales and take-up haven't been "as advanced as they [...]