Economics
Jaguar Land Rover factory closures would be “economic car crash”
This Government needs to start thinking of the lives of Britain’s workers – and their families – rather than internal Tory party bickering. GMB, the union for Jaguar Land Rover workers, has responded to the company’s warning they may have to close factories in the wake of a ‘bad’ Brexit. The UK's biggest carmaker, owned by India's Tata Motors, said its "heart and soul is in the UK". But without frictionless trade JLR said its UK £80 billion investment plans...
Government must not “bury its head in the sand” over Universal Credit failure
The Government must urgently reconsider the rollout of Universal Credit (UC) and heed the growing warnings about the damage the policy has caused, IPSE (the Association of Independent Professionals and the Self-Employed) has said. The call follows an intervention by the National Audit Office (NAO), who highlighted a series of inaccuracies made in an address by Esther McVey, Secretary of State for Work and Pensions. Jordan Marshall, IPSE’s Policy Development Manager, commented: “It’s extremely concerning that the Government continues to assert...
Francisco Reynés launches Naturgy, the new brand of Gas Natural Fenosa
Francisco Reynés announced that Gas Natural Fenosa has changed its brand name to Naturgy, in order to become more modern, digital and international. Francisco Reynés expressed that “we are embarking on a new era; one focused on innovation, experience and digitalisation. And we are doing so with a new image which is more modern, digital and global. It is also more environmentally-friendly, and reflects better the new era that we are entering”. During his speech in the General Shareholders’ Meeting...
CETA “makes a mockery of Government’s stated objective of ‘bringing back control’.”
CETA amounts to a full frontal attack on Parliamentary democracy and any concept of national sovereignty and makes a complete mockery of the Government’s oft-stated objective of ‘bringing back control’ says Union. GMB, Britain’s general union, has criticised a Government plan to sign away UK sovereignty in a mega trade deal without MPs having their say in Parliament. On June 26, the House of Commons will be asked to ratify the 2,255 page Comprehensive Economic and Trade Agreement (CETA) between...
Airbus boss warns of severe job losses amid fear of no Brexit deal
The boss of one of the world’s biggest aircraft manufacturers today warned that in any scenario Brexit would have "severe negative consequences for the UK aerospace industry and Airbus in particular." He said that Airbus has repeatedly been demanding clarity from Theresa May’s government over what trading arrangements will be available with Europe in March 2019. He warned that without a clear government strategy the aviation multinational would have to take steps to protect production, putting 100,000 jobs in the...
UK economy heading for worst year in almost a decade, predicts business group
There have been further warnings of a weakening of the UK economy, as we approach Brexit. This time the British Chambers of Commerce (BCC) predicts gross domestic product (GDP) will increase 1.3 per cent in 2018, a downgrade from its previous forecast of 1.4 per cent. It has also sliced its 2019 GDP outlook from 1.5 per cent down to 1.4 per cent. Adam Marshall, director general of the BCC said the UK faces another “extended period of weak growth”....
Is the Brexit Dividend another lie?
With confidence in a divided Conservative government’s ability to negotiate a Brexit that makes sense for Britain, Europe and Northern Ireland at an all-time low – both at home and abroad, Theresa May urgently needed some good news. And according to the front pages of the newspapers that have been cheerleaders for Brexit and more likely to scream “traitors” than report concerns from any quarters, the “Brexit Dividend” is just the good news soundbite that our PM needed. This week...
Unexpected slowdown in UK wage growth during April a “concern”
Wage growth excluding bonuses, an important measure for the Bank of England, slipped to 2.8 per cent, down from 2.9 per cent previously. The TUC's General Secretary, Frances O'Grady, said: "Wage growth is stuck in the slow lane. At this rate pay packets won't recover to their pre-recession levels for years. "We need to speed things up. Extending collective bargaining would boost living standards and help workers get a fairer share of the wealth they create." Suren Thiru head of economics...
“Alarm bells should be ringing for Government” – sharpest fall in UK manufacturing output since 2012
Between Trump wanting to slap tariffs on our steel and the UK Government refusing to be in a European customs union, UK manufacturing risks being stranded. The sharpest fall in UK manufacturing output since 2012 offers more worrying news about the state of the UK economy. The drop is in April was the highest in almost six years, with a 1.4 per cent fall in factory production marking the third consecutive monthly fall. The April dip was the steepest fall...