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Tag: Brexit

NHS funding: Brexit 'won't save enough' to fund £20bn boost

NHS funding: Brexit 'won't save enough' to fund £20bn boost

Health
The government will not reveal how a £20bn boost to the NHS is funded until the autumn budget - but any savings from Brexit will not be "anything like enough", the health secretary says.Jeremy Hunt also said there "will be an increased burden of taxation" to fund the 3.4% average annual rises to 2023.It came after Theresa May said the NHS funding boost in England would be partly funded by a "Brexit dividend".Labour's John McDonnell called the funding model "not credible".The prime minister announced at the weekend that the government's plan to increase the NHS budget over the next five years.The plan means more money will be given to the rest of the UK - about £4bn - although it will be up to the Welsh and Scottish go...
EU firms advised not to use British parts ahead of Brexit

EU firms advised not to use British parts ahead of Brexit

Business
European governments are advising businesses not to use British parts in goods for export ahead of Brexit, Sky News has established.  In its advice rolled out to all Dutch businesses, the Dutch government has told its exporters that "if a large part of your product consists of parts from the UK" domestic exporters may lose free trade access under existing deals.The advice says: "Brexit will have consequences for exports outside the EU."After Brexit, parts made in the UK no longer count towards this minimum production in the European Union." Image: The Dutch Brexit Impact Scan says exporters may lose free trade access if they use UK parts This is a reference to what are known as "rules of origin" and "local content" under internati...
Brexit: Technology-based customs system 'could cost £20bn'

Brexit: Technology-based customs system 'could cost £20bn'

Business
The post-Brexit customs system favoured by Boris Johnson and other leading Brexiteers could cost businesses up to £20bn a year, officials have suggested.The chief executive of HM Revenue and Customs told MPs firms would have to pay £32.50 for each customs declaration under the so-called "max fac" solution.Jon Thompson said any system may take between three and five years to bed in.No 10 said the £20bn figure was "speculation" but "issues" remained with both options being considered.The figure is higher than the £13bn UK contribution to the EU in 2016.Leading Tory Brexiteer John Redwood said he did not accept what he described as the HMRC's "general figures" but told the BBC that "if it is going to cost this much it is the wrong sys...
The obvious Brexit link in economic slowdown

The obvious Brexit link in economic slowdown

Business
No excuses.Try as one might to blame the weather for the weakness of these GDP figures, to judge from what we have just heard from the Office for National Statistics, the economy was starting to sag well before the Beast from the East came in and disrupted UK economic activity.Consumers - the engine of the UK economy for decades - have been spending less and less in recent quarters.The services sector, which grew by around 2% a year in 2015 and 2016, is now growing by around 1% a year.Image:Snowy weather in February and March exacerbated the slowdown in the economyThe construction sector - always volatile - was certainly affected by the Beast. But activity was already trending lower well before the temperatures dropped.All of which is why overall growth is quite so weak. The first quarter'...
Govt signs secret Brexit agreements with firms

Govt signs secret Brexit agreements with firms

Business
Sky News has established the Government has been signing a series of secret agreements with companies and industry groups over highly controversial outcomes of the Brexit process for Britain's trade border.The attempt to enforce silence about outside discussions on the changes urgently required to the border after Brexit has raised eyebrows across industry.A series of non-disclosure agreements have been forced into the process of consultation with the logistics companies that actually operate the UK border, with one industry source calculating that "many dozens" have been signed.The development was described by Meg Hillier MP, the chair of the Public Accounts Committee, as "extremely unusual" and "a sign of Government paranoia".She told Sky News: "I'm pretty staggered by that because I don...