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Hauliers face increased fines under new no-deal Brexit powers

Hauliers face increased fines under new no-deal Brexit powers

Business
By Paul Kelso, business correspondent Hauliers will face increased fines and civilian traffic officers will be granted new powers in the event of a no-deal Brexit under government plans to try and avoid debilitating customs delays at Dover. Sky News understands the proposals, set out in a Department of Transport consultation, will see Highways England Traffic Officers (TOs) given the power to demand and check drivers' documentation for the first time. TOs will also work with police to levy new increased fines, perhaps as high as £300, on drivers who ignore orders to take an alternative route or head to holding areas. Image: Hauliers with the correct paperwork will be given a permit to proceed towards Do
More to the falling pound than no-deal Brexit fears

More to the falling pound than no-deal Brexit fears

Business
Some years ago I asked Alan Greenspan, who was just retiring as chairman of the Federal Reserve, whether he had ever worked out how to predict currency movements.If there was one person in the world capable of doing so, you'd have assumed it might be Mr Greenspan, the man whose every word used to move the dollar.And lo and behold, he told me he put a "huge amount of resources" into predicting those foreign exchange movements."We worked very hard, collected all the data - and we had far more than anybody else, because there was a lot of unpublished data on intervention and all that stuff which the Fed had."The rate of return on that investment of time and effort and people was zero."If the maestro of central banks had no way of divining where a currency was heading, what hope is there for t...
Business lobby group CBI says UK not ready for no-deal Brexit

Business lobby group CBI says UK not ready for no-deal Brexit

Business
The Confederation of British Industry (CBI) has warned the government that neither the UK or EU is ready for a no-deal Brexit on 31 October."While the UK's preparations to date are welcome, the unprecedented nature of Brexit means some aspects cannot be mitigated," said the CBI.It has published practical steps it says the UK, EU and firms can take.A government spokesman said the UK has increased the pace of planning for no-deal.The CBI had previously said leaving the EU with a deal was essential to protect the economy and jobs.New prime minister Boris Johnson has made Michael Gove responsible for planning a no-deal Brexit.Mr Gove has said the UK government is currently "working on the assumption" of a no-deal Brexit.He said his team still aimed to come to...
No-deal Brexit ‘threatens’ UK science industry, says Wellcome Trust

No-deal Brexit ‘threatens’ UK science industry, says Wellcome Trust

Science
The head of the UK's biggest charitable funder of scientific research has written to the new Prime Minister Boris Johnson backing his vision of a thriving science sector, but warning that leaving the EU without a deal is a "threat to that". In a letter, seen by the BBC, chairwoman of the Wellcome Trust Lady Eliza Manningham-Buller, asks the new PM to up investment spending in science to German levels, and to ensure that immigration policy was "more welcoming" to top scientists.The Wellcome Trust is responsible for £1bn of funding a year, and should be a key part of Boris Johnson's vision of the UK as a "science superpower".Its chairwoman told the BBC that while she agrees that there is a great prize to be grasped she is anxious