Category: Brexit

Data protection and a No-deal Brexit

Brexit

The ICO has released guidance to help small to medium-sized UK businesses and organisations keep personal data flowing with Europe (the EEA) after Brexit. If we leave the EU without a deal, most of the data protection rules affecting SMEs and organisations will stay the same. The UK is...

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SMEs voice Brexit concerns

Brexit

Ian Rand, chief executive of Barclays Business Banking, has revealed the concerns he most often hears from small business owners in regard to Brexit. These include worries about staff levels once the UK exits the EU, the finance options available to SMEs to see them through any turbulence, the...

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Business split on brain drain threat

Brexit

A survey by tech giant Salesforce has found nearly 60% of British businesses are concerned about access to digital talent after Brexit. Some 64% of business leaders said investing in digital skills will become a higher priority post-Brexit, while 65% said a shortage of skilled workers will make technology...

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UK banking system resilient to no-deal Brexit

Brexit

The Bank of England’s latest Financial Stability Report maintains that the UK banking system remains resilient to the financial impact of a worst-case disorderly Brexit. The Bank warned that the “perceived likelihood” of a no-deal Brexit had increased since Theresa May’s resignation, which would bring with it “material risks...

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Mortgage lending hits three-year high

Brexit

Mortgage lending rose to its highest level since the Brexit vote last month, as families shrugged off economic uncertainty. Figures from UK Finance show a total of 49,683 mortgages were agreed in May, up 9.1% on a year earlier, and the highest level since June 2016. Overall, £14bn was...

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CFOs more worried than ever about Brexit

Brexit

A survey by Deloitte finds that finance bosses are the most worried they have been about Brexit since the 2016 referendum. Its latest quarterly survey of CFOs found only 13% are more optimistic than three months ago while eight out of 10 are expecting the long-term environment to be...

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House prices fall in March

Property, Economy, Brexit

The latest Halifax House Price index shows that the average property value fell by 1.6% in March. This follows a 5.9% month-on-month increase reported in February. Quarterly figures show a rise of 1.6% over the first three months of the year. Annually, the data shows an increase in the...

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Further Brexit delay will hinder growth

Brexit

The head of the IMF, Christine Lagarde, has said that further uncertainty over Brexit will hinder growth in the UK economy. Speaking ahead of the agreement of an extension to Article 50, Ms Lagarde warned that businesses and investors will remain hesitant in the coming months. She said any...

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Businesses tell MPs to ‘stop chasing rainbows’ on Brexit

Brexit

The British Chambers of Commerce has said that MPs need to stop “chasing rainbows” when it comes to resolving the Brexit impasse. Adam Marshall, the BCC’s director-general, said Brexit uncertainty was already doing “real world damage” to the UK economy and that Westminster had left business “frustrated and angry”....

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House prices set to slip

Property, Economy, Brexit

House prices are expected to fall towards the end of the year, according to estimates from the Office for Budget Responsibility. It said that average prices will drop by 0.3% in the fourth quarter of 2019. Growth is expected to return in the second quarter of 2020, to 0.9%,...

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