Friday , November 15 2019
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U.K. Importers and Distributors Stuck in a Brexit Jam

British businesses looked on in horror as the Oct. 31 Brexit deadline passed—the second one the U.K. has missed this year. Despite Prime Minister Boris Johnson claiming he would rather be “dead in a ditch” than still be in the E.U. after the October deadline, the U.K.’s beer industry is coming to terms with another three-month extension. The deferral is ... Read More »

King Abdullah Port delegation visits Liverpool Port in UK

A delegation from King Abdullah Port, which also included officials from the Economic Cities Authority, Saudi Customs and the Border Guards, visited Liverpool Port, one of the largest ports in the UK, with a view to learning about the port’s business processes and operating procedures. The visit to Liverpool Port provided an ideal opportunity for delegation members, which included representatives ... Read More »

UK red meat exports up and imports down

UK exports of beef and lamb rose significantly during the first two-thirds of 2019, with imports also falling, according to analysis by Quality Meat Scotland. Stuart Ashworth, QMS director of economic services, said despite the confusion generated by Brexit, it had been a positive period for the UK’s red meat exporters, which had successfully grown volumes. According to official statistics ... Read More »

EU says further Brexit extension would be required for Labour to renegotiate deal

A further Brexit extension would be required for a Labour government to renegotiate the terms of Brexit, the European Commission said on Thursday. Labour plans to secure a softer agreement that keeps the UK inside a customs union and single market regulations – and then put the result of talks to a Final Say referendum with the option to remain. ... Read More »

Boris Johnson’s plan in chaos as customs union amendment has ‘good chance’ of passing

Boris Johnson is facing a fresh Brexit headache after opposition MPs claimed they had enough support to force the prime minister to negotiate a customs union with the EU. Labour said there was a “very good chance” of a customs union motion being passed by the Commons later this week, as the DUP appeared to indicate that it could support ... Read More »

Brexit: UK offer ‘a step forward’ says Simon Coveney

The UK’s latest Brexit proposals are a “step forward” but further change is needed to avoid customs checks, the Irish deputy prime minister has said. Simon Coveney said he welcomed parts of the plan but added he was “not going to pretend we have a solution” as yet. He said Mr Johnson “has accepted” for the first time that there ... Read More »

Number of UK trust funds drops 6% to 149,000

The number of trust funds in the UK dropped 6% in 2017-18 from the previous year according to the latest statistics from HM Revenue & Customs. There were 149,000 trusts which submitted a tax return in 2017-18, down 6% from 159,000 in 2016-17 . The number has been in steady decline: there were 220,500 trusts and estates in the UK ... Read More »

UK customs says staff shortage won’t mean Brexit anarchy

PARIS : Britain does not have enough customs agents to cope with the additional stresses of a no-deal Brexit, one of the officials responsible for infrastructure at its border with the EU said on Thursday, though she dismissed fears of “anarchy in the UK”. Just weeks before Britain is due to leave the European Union on Oct. 31, there is ... Read More »

EU’s chief negotiator calls Johnson’s backstop solution ‘unacceptable’

Michel Barnier has described Boris Johnson’s solution for replacing the Irish backstop as “unacceptable” as the EU’s chief negotiator gave his most downbeat assessment yet of the chances of striking a Brexit deal by 31 October. Standing alongside the German foreign minister, Heiko Maas following a meeting in Berlin, Barnier said the UK government’s position had to change for there ... Read More »

Port of Southampton and UK government launch first Port Economic Partnership

The Department for Transport (DfT), in partnership with ABP’s Port of Southampton, has launched the UK’s first Port Economic Partnership (PEP), an innovative initiative to create stronger links between ports and government, to maximise long-term trade and economic growth. The Partnership will be launched at an event at London International Shipping Week, on board the NLV Pharos lightship. As part ... Read More »

U.K. Reaches Post-Brexit Deal With World’s Oldest Customs Union

The five members of the Southern African Customs Union and Mozambique have reached a deal with the U.K. to govern trade between them after Brexit. The new agreement mirrors the deal between those countries and the European Union and will come into effect if the U.K. leaves the bloc on Oct. 31, South African Trade and Industry Minister Ebrahim Patel ... Read More »

Ministers and banks to support small and medium businesses

Business Secretary Andrea Leadsom today (Thursday 5 September) met senior representatives of Britain’s leading banks and other lenders to set out support for SMEs ahead of 31 October and beyond to ensure they can make the most of the opportunities that Brexit will bring. She was joined at the roundtable by Michael Gove, Chancellor of the Duchy of Lancaster, John ... Read More »

HSBC’s £35bn mortgage push is good for borrowers, but it’s risky

SBC has been the bank that has prospered most from globalisation. Hong Kong has been its gateway to an emerging China, its UK domicile has provided regulatory and legal respectability, and its US operations have enabled it to become one of the biggest US dollar clearing banks in the world. But has globalisation now stopped working in the bank’s favour? ... Read More »

UK factories suffer worst slump since 2012 amid Brexit crisis : as it happened

Activity plunged in August to the lowest levels since July 2012, according to the latest factory PMI survey The report found that EU-based customers are shunning British manufacturers as the risk of no-deal Brexit mounts, rerouting supply chains away from the UK as the likelihood of border disruption after 31 October increases. Economists said the drop in the UK factory ... Read More »

Belarus, UK to enhance cooperation in customs matters

Belarus and the UK are intended to increase the level of practical interaction between the customs services of the two states, the State Customs Committee of Belarus told BelTA following the meeting with the delegation of the HM Revenue and Customs of the United Kingdom of Great Britain and Northern Ireland. The heads of the customs services shared their experience ... Read More »

UK banks face week of hunger strikes and protests

A number of banks face direct action protests in the UK starting on Monday, including hunger strikes outside Clydesdale Bank’s Glasgow headquarters, Danske Bank’s branch in Belfast and Lloyds’ offices in Bristol. In Glasgow, the Scottish businessman John Guidi, a former property developer, will pitch his tent outside the bank claiming that he is being made homeless after his £16m ... Read More »

UK firms to enrol in customs system for post-Brexit trading

Companies in Britain will be automatically enrolled in an important customs system to trade post-Brexit, British Chancellor Sajid Javid announced on Wednesday. According to a joint announcement of British Treasury and Revenue & Customs, in the next two weeks, more than 88,000 VAT registered companies across the country will be allocated an Economic Operator Registration and Identification (EORI) number, to ... Read More »

UK documents warn of ‘meltdown’ in wake of no-deal Brexit

Leaked British government papers that outline the effect of a no-deal Brexit show the need for an orderly withdrawal by the UK from the EU, Government sources have said. The documents, published by the Sunday Times, warn of a hard Irish border, a three-month “meltdown” at ports and shortages of food and medicine if the UK leaves the EU without ... Read More »

‘No deal Brexit’ customs plan for Manston airport site

No deal Brexit preparations will include customs administration being carried out at the Manston airport site. The government’s HMRC department says it is the only site of its size available in Kent and “its owners are content to have it on standby for use if there is any serious travel disruption.” The site already has a special development order designating ... Read More »

No-deal Brexit preparations ‘top priority’, Boris Johnson says

Preparing for the possibility of a no-deal Brexit should be “the top priority” for civil servants, Boris Johnson has told them in a letter. The PM said he would prefer to get a deal with the EU, but he said he recognised this “may not happen”. Earlier Jeremy Corbyn had urged the UK’s top civil servant to intervene to prevent ... Read More »