Figures released today by the Office for National Statistics show that the UK gross domestic product is estimated to have fallen by 0.2% in Q2 (April-June) 2019. Growth in the services sector output slowed to 0.1% in Quarter 2 2019. The production sector contracted by 1.4% in Q2 2019, providing the largest downward contribution to
Government forced to publish data showing less than 3 in 10 UK exporters are prepared for ‘no deal’ Brexit
New data obtained by the Liberal Democrats from HM Treasury shows less than 3 in 10 exporters to the EU are ready for a ‘no deal’ Brexit. Figures suggest most will not be ready until the beginning of 2021. In a no-deal Brexit, businesses that currently only trade with EU countries will need to apply
In its quarterly inflation report, published today, the Bank of England has warned that even with the smoothest possible Brexit there is a 1/3 chance of a UK recession. Also published today, the IHS Markit PMI for UK Manufacturing showed that production in the sector fell to its lowest in seven years. Today the Bank
Following the appointment of Sajid Javid as Chancellor of the Exchequer, I have written a letter calling on him to protect the British economy from Brexit and to ensure it works for all Britons, not just the richest. The letter sent to Sajid Javid last night is as follows: Dear Sajid, Congratulations on your appointment
The Industrial Trends Survey published today by the CBI, shows that UK manufacturing output fell at the fastest pace since the financial crisis. Boris Johnson talks about the need for a ‘can do’ attitude but by pursuing a ‘no deal’ Brexit he is asking British businesses to run up a down escalator – which makes
The Public Sector Finances bulletin, published this morning by the Office for National Statistics, shows that public sector net borrowing in June 2019 was £7.2 billion – £3.8 billion higher than in June 2018 and the largest June deficit since 2015. In his Spring Statement in March, the Chancellor said the Government would borrow £29.3
This morning, the Office for Budget Responsibility published its Fiscal Risks Report, revealing that the UK will enter a recession if it leaves the EU without a deal. Britain has a dysfunctional economy that stops people getting on and living a happy, secure life. It would be unforgivable to heap further stress and anxiety on
If Labour’s Rebecca Long-Bailey really wanted to be a voice for UK businesses, she’d stop trying to push Brexit though
Not only does the shadow minister want Brexit, but refuses to commit to a Final Say vote too. And all the while, high street shop owners are becoming increasingly frustrated
An untrammelled free market left to its own devices does not automatically lead to an environment in which such productive, innovative and progressive businesses can thrive.
I spoke to UK businesspeople over the weekend about what they’d really do in a no-deal Brexit. Everyone needs to hear what they said.
In the last couple of years, the Tories have achieved a quite remarkable feat: not only have they managed to reinforce their stereotype of being anti-worker, but now they are increasingly seen as anti-business too