Sinking fast: Jeremy Hunt to ditch Boris Johnson’s £250m Brexit Britain ship October 25, 2022 A £250m national flagship proposed by former prime minister Boris Johnson while in office will be cancelled by the new chancellor, Jeremy Hunt, according to various news reports. In an upcoming round of deep spending cuts, most likely to be announced next week, Hunt reportedly plans to drop the Ministry of Defence project. So far, [...]
Brexit Brits were sold ‘a mirage’ as UK’s destiny ‘clearly’ lies in Europe, says EU bigwig October 24, 2022 Brits voting for Brexit primarily did so because they were sold “a sort of mirage” and it is “clear” the UK’s future lies firmly in Europe, a prominent member of the European Commission said over the weekend. French politician Thierry Breton, who is in charge of the internal market within the European Commission, told RTL [...]
No Brexit karma in Delhi: Whisky and visas increasingly complicate £27bn trade deal between UK and India October 18, 2022 The 24 October deadline set by Boris Johnson for finalising the UK–India trade deal will be missed after both parties have hit a roadblock in discussions. Although a detailed reason hasn’t been given by both sides, sticking points include a steep import duty on British whisky for sale in India, and demands for more visas for [...]
From new duties to volatile pricing: Brexit is making life in Europe impossible for UK firms October 17, 2022 The volatile pricing and availability of materials, accompanied by widespread disruption to global supply chains are just a few of the challenges faced by many UK businesses post-Brexit. Those trading within the European Union have suffered a massive upheaval due to the loss of access to the EU’s present free trade agreements. Following the end [...]
UK exports to Ireland reach record highs despite Brexit trade frictions October 5, 2022 UK exports of goods to Ireland have now posted consecutive monthly records in June and July, according to fresh data shared with Morning Wire this morning. Analysis of the latest government trade data shows £2,861m and £2,693m worth of goods travelled into Ireland through the two months respectively, as trade with the UK’s closest neighbour [...]
Ashurst seeks to capitalise on consulting boom with launch of UK advice business October 3, 2022 City law firm Ashurst is set to expand its services offering by launching a UK consulting business. The Silver Circle firm plans to build on the successes it has had in Australia by launching a London based risk advisory business. Ashurst’s new consulting business will be led by a trio made up of current Ashurst [...]
Post-Brexit foreign direct investment in the north skyrockets 72 per cent September 26, 2022 Post-Brexit foreign direct investment in the ‘northern powerhouse’ has skyrocketed by 72 per cent compared to the rest of the UK, a new report has shown. Investment in the north rose from £24bn between 2012-16 to £41bn after Britain left the European Union, from 2017-21. The findings, by the Northern Powerhouse Partnership, also found the [...]
London breezes past European rivals to retain finance hub crown September 22, 2022 London has breezed past its Continental rivals to retain the title of Europe’s top financial hub, research shared exclusively with Morning Wire today shows. The capital’s deep highly-skilled talent pool helped drive it to the top of the European rankings in the 32nd edition of Z/Yen’s global financial centres index (GFCI). The Square Mile has [...]
Liz Truss drops any hope for UK-US trade deal as Global Britain’s Brexit efforts shift to Gulf, India, Australia and Japan September 20, 2022 The Prime Minister has stressed that her trade priority is post-Brexit striking deal with the Gulf states and India, and joining a trade pact with nations including Australia and Japan. At the same time, Liz Truss conceded that negotiations for free trade deal with the US will not restart for years as she flew to [...]
Brexit onslaught deepens as a third of all UK exporters to EU vanish due to red tape knockout September 15, 2022 The number of UK businesses exporting goods to the EU fell 33 per cent to 18,357 in 2021, from 27,321 in 2020, according to data from HMRC. Discussing the figures with Morning Wire, Michelle Dale, a senior manager at accountancy firm UHY Hacker Young, pointed out the fall is due to the extra red tape [...]