Brexit is ‘stifling’ Britain’s trade with Europe and the problem is getting worse | CNN Business

September 17, 2024 ~ knjohn ~ Leave a comment

Brexit is having “profound and ongoing stifling effects” on goods trade between the United Kingdom and the European Union, according to a new report that adds to evidence of the economic damage wrought by Britain’s exit from the world’s largest trading bloc.

Researchers at Aston University in England estimated that between 2021 and 2023, annual UK exports of goods to the EU were 17% lower than they would have been had Brexit never happened. Exports in most sectors have decreased since 2021, according to the report.

“The study highlights that the negative impacts of (Brexit) have intensified over time, with 2023 showing more pronounced trade declines than previous years,” the researchers wrote in the paper published Tuesday.

FTSE 100 index of leading shares hits highest since March | BBC News

December 30, 2020December 29, 2020 ~ knjohn ~ Leave a comment

Britain’s index of leading shares closed at its highest since the pandemic sparked a market rout in March as investors on Tuesday cheered the post-Brexit trade deal.

In the first day of trading since markets closed on Christmas Eve, the FTSE 100 ended up 1.6% at 6,603 points.

It was the Footsie’s best day since 9 November, and only falls in bank shares stopped the index from rising further.

US shares also rose in the first few hours of trading.

Brexit: Get ready because this time it’s for real | BBC News

July 15, 2020July 13, 2020 ~ knjohn ~ Leave a comment

The government has warned that the outcome of ongoing Brexit negotiations will not alter significant changes to trade with EU that business needs to prepare for.

“Customs declarations are complicated”: That’s according to page 8 of a 208-page government guide to importing and exporting after the transition period ends at the end of this year.

The document is dense, detailed and presents a daunting checklist for firms looking to be prepared for the biggest change to doing business with our largest and closest partner.

Brits going Dutch over Brexit | BBC News

September 18, 2019September 16, 2019 ~ knjohn ~ Leave a comment

Would you sacrifice your nationality to secure the rights guaranteed to EU citizens?

There’s been a rapid rise in the number of British nationals living in the Netherlands applying to become Dutch since the UK voted in a referendum to leave the European Union.

Pound sinks after general election speculation | BBC News

September 3, 2019September 2, 2019 ~ knjohn ~ Leave a comment

The pound has continued to fall on currency markets amid intensified political uncertainty over Brexit.

Reports of a possible snap general election weighed on sterling as MPs mulled efforts to push for a further three-month Brexit extension.

Against the dollar, it sank more than a cent to $1.2050, while against the euro, it fell below the €1.10 mark

Third Brexit vote must be different – Speaker | BBC News

March 18, 2019 ~ knjohn ~ Leave a comment

Speaker John Bercow has thrown the UK’s Brexit plans into further confusion by ruling out another vote on the PM’s deal unless MPs are given a new motion.

In a surprise ruling, he said he would not allow a third “meaningful vote” in the coming days on “substantially the same” motion as MPs rejected last week.

With 11 days to go before the UK is due to leave the EU, ministers have warned of a looming “constitutional crisis”.

The UK is currently due to leave the EU on 29 March.

Business is ‘staring down the precipice’ over Brexit | CNN

March 13, 2019March 12, 2019 ~ knjohn ~ Leave a comment

Companies in the United Kingdom are suffering from a bad case of déjà vu after lawmakers rejected a second version of the Brexit deal negotiated by Prime Minister Theresa May.

“Enough is enough,” said Carolyn Fairbairn, director general of the Confederation of British Industry, a business lobby. “It’s time for parliament to stop this circus,” she added, stressing that “jobs and livelihoods depend on it.”

The stunning defeat increases the chances that Britain will crash out of the European Union without a deal in just 17 days — doing big damage to the economy — or that Brexit will be delayed, prolonging the uncertainty for business.

Theresa May offers MPs Brexit delay vote | BBC News

February 27, 2019February 26, 2019 ~ knjohn ~ Leave a comment

Theresa May has promised MPs a vote on delaying the UK’s departure from the EU or ruling out a no-deal Brexit, if they reject her deal next month.

Mrs May made a statement to MPs about Brexit on Tuesday, amid the threat of a revolt by Remain-supporting ministers.

The PM has promised MPs a meaningful vote on her Brexit deal by 12 March.

But Labour leader Jeremy Corbyn accused the prime minister of another “grotesquely reckless” Brexit delay.

Brexit: Delay is ‘most likely’ option, says former chancellor | BBC News

January 23, 2019January 22, 2019 ~ knjohn ~ Leave a comment

Former Chancellor George Osborne has said delaying the UK’s exit from the EU is now the “most likely” option.

The UK has to choose between no deal – which he compared to Russian roulette – or no Brexit for now, he told the BBC.

MPs are proposing alternative plans to the PM’s deal with the EU, including seeking an extension to the UK’s exit date – it is due to leave on 29 March.

But the prime minister has said the “right way” to rule out no-deal Brexit is to approve her withdrawal agreement.

Theresa May survives confidence vote of Tory MPs | BBC News

December 13, 2018December 12, 2018 ~ knjohn ~ Leave a comment

Prime Minister Theresa May has won a vote of confidence in her leadership of the Conservative Party by 200 to 117.

After securing 63% of the total vote, she is now immune from a leadership challenge for a year.

Speaking in Downing Street, she vowed to deliver the Brexit “people voted for” but said she had listened to the concerns of MPs who voted against her.

Her supporters urged the party to move on but critics said losing the support of a third of MPs was “devastating”.