The impact of Brexit on the UK economy
6 years, 1 month ago

The impact of Brexit on the UK economy

CNN  

London CNN Business — It’s official: The British government’s plan for leaving the European Union will be bad for the economy. The Bank of England said that May’s plan could result in new trade barriers that would cause the UK economy to be 0.75% smaller than currently forecast in 2023. Analysis commissioned by a group campaigning for a second referendum showed the UK economy would be 4% smaller by 2030 under May’s deal than it would otherwise have been. PAUL ELLIS/AFP/Getty Images IfMay’s plan fails, potential alternatives include crashing out of the European Union without a deal, a second referendum or a general election in Britain. ‘No-deal’ Brexit worse than 2008 The government said that leaving without a deal would result in the UK economy being 7.7% smaller 15 years after Brexit.

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History of this topic

Five years after Brexit, the UK must restore its relationship with the EU
6 days, 3 hours ago

Five years after Brexit, the UK must restore its relationship with the EU

The Independent  

Five years ago this month, Brexit was “done” and the United Kingdom ceased to be a member of the European Union. We reluctantly accepted, however, that the majority of the British people took a different view, and that the government of Mr Johnson, the leader of the Leave campaign, was entitled to restrict immigration after Brexit. The considered view after …

UK Economy to Outperform Europe in Next 15 Years, Says CEBR
2 weeks, 2 days ago

UK Economy to Outperform Europe in Next 15 Years, Says CEBR

Live Mint  

-- The UK will outperform its struggling European peers in the next 15 years, helping it to cling onto its place among the world’s biggest economies, according to long-term projections. “While this outlook is markedly better than key European peers like France and Germany, both of whom are expected to slip, this reflects a relatively poorer outlook for Eurozone economies …

Starmer and Reeves must be clear about the sacrifices needed to achieve econmic growth
2 weeks, 4 days ago

Starmer and Reeves must be clear about the sacrifices needed to achieve econmic growth

The Independent  

No amount of political tinsel or rhetorical baubles can disguise the grim reality that the British economy is flatlining. Equally plainly, the downbeat mood struck by Labour ministers following the general election, with their talk of a crisis in the public finances, cannot have helped matters; and if the latest surveys are anything to go by, Ms Reeves’s Budget measures …

Brexit: Britain sets aside £10bn for future payments to EU more than eight years after vote to leave
1 month, 1 week ago

Brexit: Britain sets aside £10bn for future payments to EU more than eight years after vote to leave

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. “We are unnecessarily …

Worst of Britain’s Brexit pain is still to come, admits Treasury minister
2 months, 1 week ago

Worst of Britain’s Brexit pain is still to come, admits Treasury minister

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. In a damning …

Catastrophic cost of Brexit on UK trade revealed in stark OBR warning
2 months, 1 week ago

Catastrophic cost of Brexit on UK trade revealed in stark OBR warning

The Independent  

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Ahead Of The 2024 General Election, UK Voters Weigh Economic Concerns
6 months, 1 week ago

Ahead Of The 2024 General Election, UK Voters Weigh Economic Concerns

The Hindu  

Published : Jul 02, 2024 18:20 IST - 5 MINS READ Ahead of the UK general election, polls point to one, clear outcome: near wipe-out for the ruling Conservative Party. “Confidence is returning to the economy and the country.” The UK economy came out of recession in the first quarter of 2024, with a better-than-expected growth of 0.7 per cent. …

The Brexit bill: £100bn hit to UK exports as toy, medical kit and jewellery sales slump
10 months, 4 weeks ago

The Brexit bill: £100bn hit to UK exports as toy, medical kit and jewellery sales slump

The Independent  

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How Brexit became prime suspect in the death of the stock market
11 months, 4 weeks ago

How Brexit became prime suspect in the death of the stock market

The Telegraph  

“We are using legal and regulatory reform, going alongside the shift in cultural mindset and market practice, to make sure that we increase investment in British business, we increase wealth for ordinary retail investors and we increase the size of the economy.” The reforms have been welcomed by the industry, who say it is a step in the right direction. …

Brexit will leave UK £300bn worse off by 2035, say economists
11 months, 4 weeks ago

Brexit will leave UK £300bn worse off by 2035, say economists

The Independent  

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Brexit has been bad for the UK economy, majority of Britons believe
1 year ago

Brexit has been bad for the UK economy, majority of Britons believe

The Independent  

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Brexit trade failures revealed by government’s own research
1 year, 4 months ago

Brexit trade failures revealed by government’s own research

The Independent  

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Five big Brexit promises – and what we got instead
1 year, 10 months ago

Five big Brexit promises – and what we got instead

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Theresa May did …

'Cost with No Benefit': Two Years After EU Exit, UK Business Feels Brexit Blues
2 years ago

'Cost with No Benefit': Two Years After EU Exit, UK Business Feels Brexit Blues

News 18  

Two years after Britain’s departure from the European Union, bosses of UK businesses are reeling from the cost of Brexit, including some who voted to cut ties with Brussels. “It’s cost, cost, cost with no benefit,” noted Adrian Hanrahan, chief executive of a small chemicals company, Robinson Brothers, based in central England and for which the EU remains a key …

Brexit’s stark impact on UK food prices confirmed
2 years, 1 month ago

Brexit’s stark impact on UK food prices confirmed

The Independent  

Brexit has added 6 per cent to UK food prices, a Bank of England official has said as inflation hit a 41-year high. Dr Swati Dhingra also said British workers had taken a 2 per cent real terms cut in their wages due to the UK’s departure from the EU, as members of the bank’s Monetary Policy Committee appeared before …

UK market turbulence is latest challenge for British businesses
2 years, 3 months ago

UK market turbulence is latest challenge for British businesses

Live Mint  

LONDON : For British companies, the recent volatility in domestic currency and bond markets is compounding six years of extreme disruptions, starting with Brexit and stretching through the pandemic and the fallout from Russia’s war in Ukraine. Executives say the recent market turmoil has dealt another blow to already fragile business confidence, threatening to crimp future investment and undermine growth …

UK economy: Boris Johnson leaves mess for successor to fix
2 years, 6 months ago

UK economy: Boris Johnson leaves mess for successor to fix

CNN  

London CNN Business — Boris Johnson was ultimately forced to resign as UK prime minister Thursday as dozens of members of his party quit the government after one ethics scandal too many. “Britain’s poor recent record on living standards — notably the complete collapse of income growth for poor households over the past 20 years — must be turned around …

UK’s Brexit losses more than 178 times bigger than trade deal gains
3 years, 1 month ago

UK’s Brexit losses more than 178 times bigger than trade deal gains

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. According to analysis …

The government has to do all it can to help alleviate supply issues
3 years, 2 months ago

The government has to do all it can to help alleviate supply issues

The Independent  

The latest disruption to hit the UK is container ships – full of toys and other Christmas-related goods – being diverted away from Felixstowe to dock on the continent because there is no storage space left. For example, if the lorry-driver shortage is ameliorated by attracting workers from similar occupations, then that will merely lead to fresh problems elsewhere – …

After Brexit, what’s now for British businesses?
4 years ago

After Brexit, what’s now for British businesses?

Live Mint  

Business breathed a sigh of relief on Thursday after the UK and European Union announced a post-Brexit trade deal, but called for greater clarity over services, and for the move to a new regime as smooth as possible. However, a feared "no-deal" would have compounded that, given it would have meant World Trade Organization rules, with high customs duties, quotas …

A Brexit Trade Deal At Last
4 years ago

A Brexit Trade Deal At Last

News 18  

Nearly five years since the Brexit crisis began, the United Kingdom and the European Union have clinched a trade deal that defines their relationship after Dec. 31. 2) TRADE – The UK will leave the EU’s single market and customs union, so the rules and regulations on trading everything from car parts to camembert cheese will change. 3) ECONOMY – …

What does this deal with the European Union mean for the UK economy?
4 years ago

What does this deal with the European Union mean for the UK economy?

The Independent  

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UK clinches historic post-Brexit trade agreement with European Union
4 years ago

UK clinches historic post-Brexit trade agreement with European Union

Live Mint  

The U.K. clinched a historic trade deal with the European Union, averting the threat of an acrimonious breakup and laying the foundations for a new relationship with its biggest and nearest commercial partner. The agreement will allow for tariff and quota-free trade in goods after Dec. 31, but that won’t apply to the services industry -- about 80% of the …

'Deal Done': Britain Clinches Trade Deal with European Union Seven Days Ahead of Brexit
4 years ago

'Deal Done': Britain Clinches Trade Deal with European Union Seven Days Ahead of Brexit

News 18  

Britain clinched a narrow Brexit trade deal with the European Union on Thursday, just seven days before it exits one of the world’s biggest trading blocs in its most significant global shift since the loss of empire. “We have taken back control of our money, borders, laws, trade and our fishing waters… “We have delivered this great deal for the …

How will the Brexit trade deal affect some of our biggest industries?
4 years ago

How will the Brexit trade deal affect some of our biggest industries?

The Telegraph  

As the news emerged shortly before 3pm on Christmas Eve that a Brexit deal had finally been reached, a “sense of relief” was the overarching sentiment among business leaders. Stephen Phipson, chief executive of trade body MakeUK, says: "Industry will cautiously welcome the Government's Christmas present of a provisional trade agreement that avoids the catastrophe of no deal; tariffs and …

No-deal Brexit would hit pound sterling, warns Bank of England
4 years ago

No-deal Brexit would hit pound sterling, warns Bank of England

The Independent  

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Brexit: Pound heading for a crash if Britain fails to get a trade deal
4 years, 1 month ago

Brexit: Pound heading for a crash if Britain fails to get a trade deal

CNN  

London CNN Business — The British pound could plunge by 10% or more if the United Kingdom does not finalize a trade deal with the European Union this weekend. Currency traders who once assumed a deal would be completed before a Brexit transition period ends on January 1 will be nervously watching events over the next 72 hours after British …

Brexit: Britain’s trade choice could prolong the worst recession in 300 years
4 years, 1 month ago

Brexit: Britain’s trade choice could prolong the worst recession in 300 years

CNN  

London CNN Business — The UK economy is suffering its worst recession in more than 300 years and failing to secure a new trade deal with the European Union will make its recovery even longer and more arduous, according to the country’s independent fiscal watchdog. The Office for Budget Responsibility said on Wednesday that a no-deal Brexit would reduce output …

Brexit: No deal with EU worse for UK economy than Covid-19, says Bank of England governor
4 years, 1 month ago

Brexit: No deal with EU worse for UK economy than Covid-19, says Bank of England governor

CNN  

London CNN Business — Bank of England Governor Andrew Bailey has warned that failing to secure a new trade deal with the European Union would do more damage to the UK economy over the long run than the coronavirus pandemic. “I think the long-term effects … would be larger than the long-term effects of Covid,” Bailey said Monday in response …

Britain's economic recovery from coronavirus will be slowed for two years by Brexit, EU forecasts
4 years, 2 months ago

Britain's economic recovery from coronavirus will be slowed for two years by Brexit, EU forecasts

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. In its regular …

Boris Johnson warns UK to prepare for no-deal Brexit. It could cost his reeling economy $25 billion next year
4 years, 2 months ago

Boris Johnson warns UK to prepare for no-deal Brexit. It could cost his reeling economy $25 billion next year

CNN  

London CNN Business — UK Prime Minister Boris Johnson is facing an expensive choice. Walking away empty-handed — which Johnson threatened to do on Friday — would create disruptions to trade when the transition period ends later this year, shaving more than $25 billion off the UK economy in 2021 compared to a scenario where a limited free trade deal …

UK urged to conclude trade deal with EU to limit Brexit cost
4 years, 2 months ago

UK urged to conclude trade deal with EU to limit Brexit cost

Associated Press  

LONDON — A leading international economic watchdog urged the British government to conclude a free trade agreement with the European Union in the coming days and weeks to support the recovery from the coronavirus pandemic. In its latest survey of the the British economy, the Paris-based Organization for Economic Cooperation and Development said Wednesday that a trade deal that ensures …

The message from business is clear: No deal is not a ‘good’ outcome
4 years, 4 months ago

The message from business is clear: No deal is not a ‘good’ outcome

The Independent  

As the government engages in more Brexit posturing, more Brexit threats, more Brexit brinkmanship, out in the real economy businesses are barely coping with Covid-19. The government sought to ramp up firms’ preparedness the last time it decided it would be a good idea to threaten to hit Britain over the head. The fact that the government insists that no …

Johnson says UK will quit Brexit talks if no deal by Oct 15
4 years, 4 months ago

Johnson says UK will quit Brexit talks if no deal by Oct 15

Associated Press  

LONDON — British Prime Minister Boris Johnson talked tough on Sunday ahead of a crucial round of post-Brexit trade talks with the European Union, saying Britain could walk away from the talks within weeks and insisting that a no-deal exit would be a “good outcome for the U.K.” With talks deadlocked, Johnson said an agreement would only be possible if …

British economy nosedives 20% in worst coronavirus-induced recession among Group of 7
4 years, 4 months ago

British economy nosedives 20% in worst coronavirus-induced recession among Group of 7

LA Times  

Britain has suffered the deepest recession among the world’s top economies this year, shrinking by a fifth in the second quarter alone when much of the economy was mothballed as part of efforts to contain the COVID-19 pandemic. Canada and Japan, the remaining members of the Group of Seven leading industrial nations, have yet to publish their second-quarter numbers, but …

UK economy risks ‘catastrophic’ one-two punch from coronavirus and Brexit
4 years, 7 months ago

UK economy risks ‘catastrophic’ one-two punch from coronavirus and Brexit

CNN  

London CNN Business — Britain is already heading for the worst coronavirus-induced slump of any major economy. “As one member put it to me — just because the house is on fire, it doesn’t make it okay to set fire to the garden shed.” British companies have already borrowed nearly £35 billion under government coronavirus relief programs, according to figures …

Remember Brexit? Why Britain could really struggle to dig itself out of recession
4 years, 7 months ago

Remember Brexit? Why Britain could really struggle to dig itself out of recession

CNN  

London CNN Business — As nations around the world attempt to dig their way out of a cataclysmic global recession, Britain is in a particularly tight spot of its own making. “That said, clearly negative rates are one of the last resorts here.” Brexit clock ticking The risk they may be needed is rising because UK Prime Minister Boris Johnson …

Trade deal between US and UK won’t make up for lost EU benefits
4 years, 10 months ago

Trade deal between US and UK won’t make up for lost EU benefits

CNN  

London CNN Business — A free trade deal with the United States could add just $4.3 billion to the UK economy over the next 15 years, the British government estimated Monday. On Monday, the government published its objectives for trade talks with the United States, with Prime Minister Boris Johnson promising that the “best negotiators in the business” will hammer …

Brexit will end frictionless trade between UK and EU
4 years, 11 months ago

Brexit will end frictionless trade between UK and EU

CNN  

London CNN Business — The idea that Britain can leave the European Union and maintain frictionless trade with the bloc of 27 countries is officially dead. Cabinet minister Michael Gove warned UK businesses on Monday that the government will subject goods from the European Union to border controls starting at the end of this year, acknowledging the end of frictionless …

Brexit just happened. Britain and the EU are already fighting about what comes next
4 years, 11 months ago

Brexit just happened. Britain and the EU are already fighting about what comes next

CNN  

London CNN Business — Britain and the European Union have taken their first steps toward negotiating a new free trade deal, staking out sharply divergent positions Monday that point to more fraught negotiations and another year of uncertainty for businesses. Speaking less than three days after Britain left the European Union, the bloc’s chief Brexit negotiator, Michel Barnier, told reporters …

Brexit: UK public wants to remain in EU, new poll finds weeks before withdrawal date
4 years, 11 months ago

Brexit: UK public wants to remain in EU, new poll finds weeks before withdrawal date

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Ten per cent …

UK businesses fear a nightmare Brexit hasn’t gone away
5 years ago

UK businesses fear a nightmare Brexit hasn’t gone away

CNN  

London CNN Business — Prime Minister Boris Johnson now has a clear path to take Britain out of the European Union. At that point, however, UK goods shipped to the country’s biggest export market will be subjected to taxes unless Johnson has secured a deal that sets new terms of trade with the European Union. “We suspect that if Johnson …

UK GDP: Economy grows at slowest annual rate in a decade ahead of election
5 years, 2 months ago

UK GDP: Economy grows at slowest annual rate in a decade ahead of election

CNN  

London CNN Business — The UK economy grew at the slowest annual rate in nearly a decade in the third quarter as uncertainty over Brexit continued to weigh on business. “Unless Brexit uncertainty fades and a fiscal boost is forthcoming, then this might make the Bank of England more inclined to cut interest rates before long,” said Ruth Gregory, senior …

Business and Brexit: Why the never-ending Brexit saga is a nightmare
5 years, 2 months ago

Business and Brexit: Why the never-ending Brexit saga is a nightmare

CNN  

London CNN Business — Businesses in the United Kingdom have already endured more than three years of Brexit uncertainty. Companies had been cautiously optimistic that Prime Minister Boris Johnson would remove the immediate threat of a disorderly break with the European Union by pushing his Brexit deal through UK Parliament ahead of the latest October 31 exit deadline. According to …

UK economy would suffer under Boris Johnson’s Brexit deal
5 years, 2 months ago

UK economy would suffer under Boris Johnson’s Brexit deal

CNN  

London CNN Business — British Prime Minister Boris Johnson says he has secured a “great new deal” on Brexit. But the agreement he’s struck with the European Union would erect significant trade barriers for companies operating in the United Kingdom, reduce growth and leave the country poorer. “The fact is, economically, there is no doubt that the gains from being …

‘No deal’ Brexit could saddle Britain with its highest debt since the 1960s
5 years, 3 months ago

‘No deal’ Brexit could saddle Britain with its highest debt since the 1960s

CNN  

London CNN Business — The chances of Britain leaving the European Union with a deal on October 31 are fading fast. That’s likely to leave the country facing a general election which could lead to a ‘no deal’ Brexit or a new coalition government led by leftwinger Jeremy Corbyn that would give voters the chance to remain in the European …

Bitter road to Brexit hits condiment producer’s bottom line
5 years, 3 months ago

Bitter road to Brexit hits condiment producer’s bottom line

Associated Press  

LOUGHBOROUGH, England — Britain hasn’t left the European Union yet, but the long, drawn-out and bitter road to Brexit is already causing financial problems for B I Europe Limited, a family-run food company in central England. His company has enjoyed hassle-free trade in Europe for 40 years and can’t lose it overnight without major problems, he said. You can’t just …

Brexit: All the latest updates
5 years, 4 months ago

Brexit: All the latest updates

Al Jazeera  

Legislators back motion calling on UK gov’t to publish material relating to no-deal Brexit, suspension of parliament. Johnson proposes October 15 election During his first outing at weekly Prime Minister’s Questions, Johnson claimed his government was making “substantial progress” in talks with the EU over a new Brexit deal but refused to directly answer questions from Labour Party leader Jeremy …

Pound sterling goes on a wild ride amid Brexit turmoil
5 years, 4 months ago

Pound sterling goes on a wild ride amid Brexit turmoil

CNN  

London CNN Business — The pound was whipsawed by political turmoilon Tuesday as UK Prime Minister Boris Johnson sufferedaparliamentary revoltaimed at preventing Britain from leaving the European Union without a deal to protect the economy. Lawmakers succeeded Tuesday night in taking control of the parliamentary agenda so they can attempt to pass legislation outlawing a “no deal” Brexit, unless it …

No-deal Brexit: UK faces food and fuel shortages , says leaked plan
5 years, 4 months ago

No-deal Brexit: UK faces food and fuel shortages , says leaked plan

CNN  

London CNN — With less than 75 days until Britain is set to exit the European Union, a government report leaked to The Sunday Times newspaper reveals the disastrous effects a no-deal Brexit would unleash on the country. The United Kingdom would likely face food, fuel and medicine shortages if it crashes out of the bloc without a transition deal, …

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