Brexit effect British economy News

European Freight Forwarders Reject UK Deliveries on Fears of Post-Brexit Border Chaos

European freight forwarders are rejecting contracts to take loads into the UK due to fears the chaos at Dover could be repeated post-Brexit. Transporeon, a German software company that monitors real-time data on freight traffic and rates for more than …

No-Deal Brexit Would Cause More Damage to UK than COVID: BoE’s Bailey

Bank of England Governor Andrew Bailey said on Monday a no-deal Brexit would cause longer-term damage to Britain’s economy than the COVID-19 pandemic, and the impact of the change might be felt for decades. “Well, I think the long-term effects …

Nearly 50% of UK Firms Less Prepared for Brexit Because of Coronavirus: Survey

About half of UK firms are less prepared for Brexit compared to last year due to the impact of the coronavirus pandemic, a sign of Britain’s vulnerability to disruption when it quits the European Union’s single market and customs union …

Brexit Impact on UK Insurers Dictated by Trade Talks, Possible Economic Hit: AM Best

From an operational point of view, the United Kingdom’s departure from the European Union on Jan. 31, 2020 will have little immediate impact on AM Best-rated insurers in the UK or EU, according to the ratings agency in a new …

What’s At Stake for Britain’s Economy as Voters Go to Polls Today?

The two main parties in Britain’s election on Thursday offer contrasting plans on spending, tax, the role of the state, trade unions and Brexit. Below is a summary of the main economic policies of Prime Minister Boris Johnson’s Conservative Party …

Prospect of Brexit Deal Is ‘Touch and Go,’ Acknowledges PM Johnson

U.K. Prime Minister Boris Johnson acknowledged Sunday that the prospect of a Brexit deal was “touch and go,” as other European Union capitals grasp the problems Britain has with the withdrawal agreement. Speaking on the sidelines of the Group of …

UK Lawyers Could Be Forced Out of EU Courts with No-Deal Brexit

UK lawyers with lucrative careers in European Union law are fighting to save their jobs after the bloc’s top courts warned that a no-deal Brexit would forbid them from representing clients. In an April letter, a senior official at the …

No-Deal Brexit Could Push UK Economy into Recession, Says Fiscal Watchdog

A no-deal Brexit could plunge the British economy into recession, hammer the pound and drive up government borrowing, according to the U.K fiscal watchdog. The analysis from the Office for Budget Responsibility is based on the “less disruptive” of two …

UK Business Executives Grow Increasingly Angry at Brexit Deadlock

There are only so many ways U.K. business chiefs can express their dismay at the Brexit deadlock engulfing the country. Frustration at politicians has morphed into outright anger in the three years since the referendum on leaving the European Union …

Threat of No-Deal Brexit Isn’t Likely to Win EU Concessions: UK Business Chief

Threatening to leave the European Union without a deal isn’t likely to win Britain concessions from the bloc, the country’s biggest business group said in a warning to candidates jostling to succeed Prime Minister Theresa May. “I’ve never felt it …