Economics
Government Hires New EU Ambassador Britain Prepares For Brexit
Following the resignation of EU Ambassador Sir Ivan Rogers, the Government has selected his replacement, “seasoned and tough negotiator” Sir Tim Barrow. Sir Ivan Rogers, who has been labelled a ‘Remoaner’ by pro-Leave supporters after saying it may take 10 years for the UK to settle a trade deal, quit unceremoniously on January 3. According to Downing Street, Sir Tim Barrow will bring energy to the Brexit negotiating table, and is committed to delivering the “right outcome”. Many Britons will...
Happy New Year! Pound slumps after May’s recent hard-Brexit comments
PM May’s first major interview of 2017 sent the pound into free fall after she made comments hinting at a “hard-Brexit.” She told Sky News that the UK will not try and keep “bits of EU membership.” During the interview she said: “Often people talk in terms as if somehow we are leaving the EU but we still want to kind of keep bits of membership of the EU. We are leaving. We are coming out. We are not going...
London’s post-Brexit property market: What we know so far
In the weeks leading up to the June 23 Brexit referendum, the Bank of England warned that a vote to leave the European Union could result in a recession, raising fears that housing prices could plummet. Yet in the months following the controversial vote, inflation rates have stabilised and housing prices have slowly risen. Between May and August, housing prices increased by a total of 0.87%, with growth rates of approximately 0.15% each month. And as described below, a 0.063%...
Winners and Losers of the Chancellor’s Autumn Statement
We are in an era of massive step change. In our politics, in our health and life expectancy, in our working habits, in our living arrangements, in our climate, in our communications, in our security, in the way we do business, in everything. Almost. It is clear there is one area where there is no change: our ability to respond to it effectively when it comes to the Autumn Statement. Yet again we get tinkering dressed up as major policy...
Watch – ‘Hard Brexit’ or ‘no Brexit’ says EU president Tusk
This will be music to the ears of staunch Brexiteers, but will terrify everyone else. The EU council president, Donald Tusk, has said that there is only one type of Brexit…and it’s a Hard Brexit. Tusk rejected Boris Johnson’s claim that the UK would end up with a better deal with the EU than it has now. Donald’s remarks are the first time he has taken such a hardline against the UK. This comes as there are various reports US...
Brexit: is London’s loss the North’s gain?
Brexit has already proved hugely divisive - to the point where the unity of the United Kingdom is once again in question - but it is also presenting golden opportunities for those able to position themselves on the right side of history. It is, however, hard to see how metropolitan London - as a global finance and business hub - is going to gain from the sort of ‘hard’ Brexit that is currently being championed by the hard-liners to Theresa...
Treasury warns ‘Hard Brexit’ could cut 10% off GDP & cost up to £66bn
This news must panic even the most ardent of “Brexiteers,” as a leaked Treasury document would destroy the UK economy. The fall that has been predicted would damage jobs across the country and send business to the wall. The report was shared with The Times and suggests that GDP might fall to almost ten per cent if the UK leaves the European project and opts to follow World Trade Organisation rules. The paper was published by the ex-Chancellor George Osborne...
“Hard Brexit” woes as pound falls to 31-year low against the dollar
As the Conservative party conference appears to be ratcheting up the anti-EU sentiment within the party, a ‘hard Brexit’ seems more likely, even though, ironically, some of the conference centre was actually funded via EU cash. The anti European hyperbole and Theresa May’s fears of being attacked by the right of her party, led her to reveal that article 50 will be invoked by March 2017, this means the UK will be out of Europe by 2019. However, there may be...
Has Britain Escaped the Brexit Blow?
In the immediate wake of Brexit, British citizens had a minor meltdown. There were multiple reports of people who had voted to exit only to demonstrate their discontent, and calls for a second referendum once citizens understood how high stakes their decision really was. The FTSE 100 plummeted, the value of the pound fell to a 31-year low, and there were doomsayers on every corner. So it comes as nothing short of a surprise to see that, nearly three months...