0 Have your say Manufacturers in Yorkshire’s industrial heartlands are stockpiling materials in anticipation of a ‘no deal’ Brexit, after new figures showed that trade barriers could impose costs on companies of high as 10 per cent. Business leaders in the Sheffield City Region said that failing to secure a deal ahead of Britain’s departure from the European Union on March 29 would hamper the city’s competitiveness and that firms were currently reigning back on investing and innovating in favour of providing short-term protections against the damage that a no deal scenario would bring their way. The situation is so acute that storage space for raw materials was already at a premium in the city, with company bosses saying that a clear picture of what future trading relations with the EU would look like was essential to their ability to plan for their future. Prime Minister Theresa May’s withdrawal agreement is expected to suffer … [Read more...] about Firms resorting to stockpiling materials as fears mount of ‘catastrophic’ no deal Brexit
Tariffs no deal brexit
PUBLISHED: 16:15 11 January 2019 Sarah Chambers Peter Crichton is concerned about the effect a 'no deal' Brexit might have on East Anglia's large pig sector Picture: SARAH LUCY BROWN A ‘no deal’ Brexit would be “potentially disastrous” for the British pig sector at a time when its overall financial viability is already under pressure, an expert has warned. Bury St Edmunds pig consultant Peter Crichton with outdoor pigs Picture: GREGG BROWNThe East Anglian region is heavily dependent on agriculture as a major industry, particularly as far as outdoor pig units – which now account for an estimated 45% of all UK pig production systems across the country – are concerned, said Bury St Edmunds pig consultant Peter Crichton.“A combination of tariffs and currency fluctuations could throw the whole pig production system into the red at a time when feed prices are already rising and pig meat values are under … [Read more...] about Do you think farmers will be badly affected in the event of a ‘no deal’ Brexit?
British Prime Minister Theresa May (R) and Japan's Prime Minister Shinzo Abe (L) hold a joint press conference at 10 Downing Street in central London on Jan 10, 2019 following talks. (Photo: AFP/Stefan Rousseau) Flanked by British Prime Minister Theresa May during a visit to London, Abe said Japanese businesses "very much welcomed" her draft divorce deal, which a majority of British lawmakers look set to reject in parliament next Tuesday amid fierce opposition. "We truly hope that a no-deal Brexit will be avoided and in fact that is the ... wish of the whole world," the Japanese leader told a Downing Street press conference. "This draft agreement for transition and legal stability for Japanese businesses is very much welcomed," he added. The endorsement came as pressure grew on May to rule out a no-deal Brexit if her agreement is rejected by MPs next week. Business minister Greg Clark broke ranks earlier Thursday to warn that leaving the European Union on Mar 29 with no agreement in … [Read more...] about Japanese PM voices hope Britain can avoid no deal Brexit
The “whole world” wants to see a ‘no deal’ Brexit avoided, according the Japanese Prime Minister Shinzo Abe. Flanking Theresa May at a press conference in Downing Street on Thursday evening, Abe dialled up the pressure on MPs planning to vote down the Brexit agreement. Around 1,000 companies in the UK are funded with Japanese money, employing 142,000 people, and in April last year the country’s ambassador warned May companies such as Nissan, Toyota and Honda could leave if Brexit hit profits. May has repeatedly claimed her deal with the EU would enable trade with the bloc to remain as near to frictionless as possible and would see no tariffs imposed. If her Brexit agreement is defeated by MPs in parliament next Tuesday, the prospect of the UK leaving the EU without a deal - and therefore incurring tariffs - greatly increases. After praising the economic ties between the UK and Japan, Abe said: “It is the strong will of Japan to further develop this … [Read more...] about Japanese PM Shinzo Abe says the ‘whole world’ wants to avoid a ‘no deal’ Brexit
BUSINESSES in the north are being warned to prepare for a no-deal Brexit and the resultant tariffs and charges that come with it. Chartered Accountants Ireland has told its members not to be complace[...] You have reached your limit of free articles Registered users get 5 regular articles and 1 free Premium article per week. … [Read more...] about Accountancy body warns Northern Ireland businesses told to prepare for no-deal Brexit