Showing posts with label brexit. Show all posts
Showing posts with label brexit. Show all posts

Thursday, 24 November 2016

UK car output dips on slow domestic demand but exports rise


UK car manufacturing slipped in October for the first time in 14 months amid slower domestic demand, according to the industry's trade body.
The Society of Motor Manufacturers and Traders said production dipped 1% last month against October last year, to 151,795 units.
However, exports rose for the 15th month in a row, with 122,765 cars built for overseas markets, a 1.7% rise.
This offset a 10.9% fall in production for the home market.
Exports accounted for 80.9% of UK production in October.
The SMMT said the UK motor industry remained strong, with production up by 9.2% so far this year, and more than 1.4 million vehicles produced.
SMMT chief executive Mike Hawes said: "October's figures underline the export-led nature of the industry, with eight out of 10 cars built for overseas customers.
"Despite model changes which have ended the consistent growth pattern of the past year or so, we are still on track for a record number of exports."
Concern about the UK car industry's position in a post-Brexit world has prompted executives to urge the government to help shield the sector from any deterioration in trade relations.
Government promises of "support and assurances" to Nissan helped persuade the Japanese carmaker to build both the new Qashqai and the X-Trail SUV at its Sunderland plant.
Mr Hawes said in a statement on Thursday: "Given this dependence on global trade, it is crucial that British-built cars remain attractive to international buyers and exports are not subject to additional tariffs, costs and other barriers to successful trade.
"It is also essential government ensures there is economic stability and a competitive business environment to ensure we continue to attract the global investment that is behind this performance."

BBC

Sunday, 11 September 2016

BREXIT: Britons might need to pay for permission to visit EU - EU Secretary

EU Secretary, Amber Rudd

Britons could be forced to pay for permission to travel to the EU after Brexit, the home secretary has admitted, warning that the restrictions are likely to form part of the negotiations over departure.
In her first significant interview since taking over the post in July, Amber Rudd said the possible need to apply for permission to travel under a visa waiver scheme being considered by the European commission was not the preferred option but could not be discounted.
Asked on BBC1’s The Andrew Marr Show on Sunday if UK nationals might be shocked to have to pay for permission to visit France, Rudd replied: “I think they would be surprised. I don’t think it’s particularly desirable, but we don’t rule it out, because we have to be allowed a free hand to get the best negotiations.”
She added: “My reaction to that is it’s a reminder that this is a two-way negotiation. The EU and the commissioners may be considering issues, alternatives. They will be considering their negotiations with us, just as we are with them. But I’m going to make sure that what we do get is in the best interests of the UK.”
On Saturday, the Guardian reported that as part of draft European commission legislation for the EU travel information and authorisation system (Etias), France and Germany both back a system based on the US Esta scheme, which requires visitors from countries that do not require full visas to apply online for permission to travel, preferably 72 hours before they leave, at a cost of $14 (£10).
As EU citizens, though not from the Schengen free movement area, UK nationals must show a valid passport to enter the zone but can then travel freely within it. But after Brexit, British citizens could have to apply through the Etias scheme and pay to visit, legal experts told the Guardian.
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Andy Burnham, the shadow home secretary, said Rudd’s comments pointed to “yet another example of the drift and confusion as a result of the government’s failure to plan for Brexit”.
He said: “The home secretary’s words will not have reassured ordinary families about the cost of Brexit. She seems to be sympathetic to an idea that will put a flat £50 tax on the average family holiday in Europe. Tory ministers might think nothing of that, but it would make it even harder for ordinary families to afford a holiday.
“Norway doesn’t have the charge so why should we? I challenge the home secretary to rule it out.”
Rudd, a prominent supporter of remaining in the EU before the June referendum, otherwise gave very few details of how she might seek to balance controlling immigration numbers from the EU with keeping some access to the bloc’s single market.
“What I do think the British public voted for was to make sure that we reduce immigration from the European Union,” Rudd said. “That’s a given. We have to find a way of doing that. I wouldn’t necessarily say what it means to do with the single market, but what I would say is we have to work out how we can do that, while promoting and protecting the economy.”
While confirming the intention to reduce annual net migration to the tens of thousands, Rudd said she could give no details as to which areas would be tackled.
“I can’t tell you which portion of which area of immigration we’re actually going to drive down more than the other,” she said. “Because we’re going to be entering into a negotiation with the European Union.”
Pressed on details, Rudd echoed Theresa May’s words on Brexit, saying: “I know you want me to give a running commentary on the negotiations, but I’m not in a position to do that.”
She added: “What we’re going to look at is how we can get the best for the economy – driving the numbers down but protecting the people who really add value to the economy. I can’t give specific areas at the moment.”
With May ruling out a points-style system last week, Rudd was asked if there would be some sort of work permit scheme for EU arrivals. She said: “I think that work permits certainly has value. But as I said, we’re not ruling anything out at the moment.”
Amid concerns from universities that student arrivals could be reduced, Rudd sought to give some reassurance. She said: “We’re looking at a number of options. But students do make an important contribution. There’s going to be no blanket banning students coming to the UK. But we are looking at bringing down the numbers overall.”
Finally, Rudd was asked about about her comments during the Brexit campaign about Boris Johnson being “the life and soul of the party, but he’s not the man you want driving you home at the end of the evening”.
Asked if she was happy with Johnson at the wheel now he is foreign secretary, Rudd responded: “Boris is not the driver. Theresa May is the driver. The rest of us are in the car. She’s very clear we’re all focused in the same direction.”

Thursday, 8 September 2016

Britain’s first post-Brexit budget due in November


The British government will in November present its first budget since the country voted to leave the European Union, the Treasury announced on Thursday.
New finance minister Philip Hammond will give his first Autumn Statement to lawmakers exactly five months after the referendum backing Brexit.
“The chancellor of the exchequer, Philip Hammond, has today announced that he will present his first Autumn Statement to parliament on 23 November 2016,” the Treasury said.
As well as tax and spend plans, the budget will include the Conservative government’s latest forecasts for British economic growth.
The Autumn Statement is seen as a mini-budget before the main tax and spend announcements given usually in March.
While the risk of recession in Britain caused by Brexit fallout has diminished following relatively upbeat data releases since the June 23 vote, the economy could still take a turn for the worse.
A leading economic think tank, NIESR, warned Wednesday that “the probability of a technical recession before the end of 2017 remains significantly elevated”.
Hammond replaced George Osborne, who resigned as chancellor after the Remain camp lost the EU referendum. The biggest political casualty was David Cameron, who stepped down as prime minister and was replaced by Theresa May.
Hammond meanwhile decided against holding an emergency budget following the referendum result despite Osborne claiming that one would have been necessary.