Archive for November 8th, 2018

Brexit imports hitting new car sales head on

Source: --- Thursday, November 08, 2018
The motor industry provides a very good barometer for the overall economy, and particularly how business and consumers view the world, writes Jim Power . Following the severe economic correction that occurred back in 2008, new car sales drove over a cliff and went into freefall in 2009 to reach just over 57,000. This created serious problems for what is a very important sector of the economy, and one that provides employment in every small town around the country, not to mention the larger towns and cities. Then, in line with the broader economic recovery, new car sales recovered strongly and almost 147,000 new cars were registered in 2016. At this stage, the future looked bright for the market, but then the Brexit vote happened and new car sales declined by over 10% in 2017 and in the first 10 months of 2018, a decline of 4.4% has been recorded. The decline in new car sales since 2016 has occurred despite what has been, in theory, a very supportive economic background. Employment is growing strongly and reached a record high in the second quarter of this year; the unemployment rate has come down from 16% in 2012 to just 5.3% at the moment; and growth in GDP has been very impressive. [readmore]884077[/readmore] The key factor that has undermined new car sales has been the substantial decline in the value of sterling. The weakness of sterling has made used imports from the UK very attractive. A car costing £14,480 in 2018 would b ...

How To Minimize Holiday Debt Before It Happens

Holiday expenses can drown you in debt. Find out how to avoid this festive spending hangover.

BREXIT BREAKTHROUGH? Theresa May in Brussels TODAY for talks with EU leaders

Source: --- Thursday, November 08, 2018
THERESA May is expected to have further Brexit discussions with key European leaders today as speculation intensifies that a breakthrough will be made within days. ...

May risks Brexit row with DUP allies over ‘Irish Sea border’

Source: --- Thursday, November 08, 2018
Theresa May faced a fresh Brexit headache as her plans risked a rift with her Democratic Unionist Party allies. DUP leader Arlene Foster said the Prime Minister appeared “wedded to the idea of a border down the Irish Sea” despite Downing Street’s assurances to the contrary. The European Union’s fallback proposal aimed at avoiding a hard border between Ireland and the UK would effectively keep Northern Ireland aligned with Brussels’s customs union and single market. A leaked letter from the Prime Minister to Mrs Foster and her deputy Nigel Dodds set out Mrs May’s approach. She wants a “backstop” measure which would create a temporary “joint customs territory” with the EU for the whole of the UK. But Brussels appears set to insist on a Northern Ireland-only “backstop to the backstop” in case negotiations on a wider UK approach break down. In the letter, obtained by The Times, Mrs May said: “I am clear that I could not accept there being any circumstances or conditions in which that ‘backstop to the backstop’, which would break up the UK customs territory, could come in to force.” But the DUP has interpreted the wording of her letter to mean that the measure will be contained in the Brexit divorce deal despite Mrs May’s insistence it will never come into effect. Theresa May depends on the votes of the 10 MPs from Arlene Foster’s Democratic Unionist Party (Clodagh Kilcoyne/PA) Mrs Foster said: “The Prime Minister’s letter raises ala ...

Year-End Tax Planning That Will Boost Your Returns

Year-end tax planning is crucial to take advantage of strategies that will maximize after-tax returns on your investments.

TSSA Backs Momentum Findings on Brexit

Source: --- Thursday, November 08, 2018
TSSA General Secretary Manuel Cortes has backed findings from Momentum showing members overwhelmingly want Labour MPs to vote down any Brexit deal that fails to meet Labourx92s six tests ...

All at sea: Raab’s ignorance of Dover-Calais stuns critics

Brexit secretary ‘hadn’t quite understood the full extent’ to which UK was reliant on the strait

Opposition parties and pro-remain groups have criticised the Brexit secretary, Dominic Raab, after he admitted that until recently he did not fully appreciate the importance of the Dover-Calais crossing for UK trade.

Speaking at an event on Brexit and the tech industry, Raab said that consumers would lose out if new rules create delays at the border.

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