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Overhaul increases the risks of insurance failure by a fifth, Bank of England Governor warns.
FOR anyone persuaded by Rishi Sunak’s recent claim that the UK has made “huge strides” with Brexit, there was an important reality check last week.
‘From rhetoric to recession’: Dutch press say Britain is now facing economic realities of Brexit
20/01/2023
Labour shortages have made inflation more persistent, Joost Derks said, putting Britain's economy in a slippery slope.
System working ‘broadly as Leave advocates promised’, say think tanks’ report. / Post-Brexit immigration rules have led to a shortfall of around 330,000 workers in the UK and had helped fuel inflation, according to top economists.
Brexit now considered a mistake by significant majority of the population as UK’s economic fortunes fade.
Wages are worth less as direct result of departure from EU, says Monetary Policy Committe member. / Brexit has added 6 per cent to UK food prices, a Bank of England official has said as inflation hit a 41-year high.
Brexit is hurting the UK economy, Bank of England officials said Wednesday, even as government leaders downplay the impact of the seismic EU withdrawal.
'The economy would be in better shape had Brexit not happened': Ex-Bank of England economist Michael Saunders [1 min]
17/11/2022
Former Monetary Policy Committee at Bank of England Michael Saunders said Brexit is to blame for "persistent" and "lasting" damage to the UK economy.
We desperately need to rejoin the single market and customs union, whatever the former PM thinks.
The economic fallout from leaving the EU is becoming all too apparent.
Our politicians won’t mention the B-word – but Brexit has made Britain’s economic crisis worse
17/05/2022
Our silence over the issue is compounding the problem.
Stagflation reflects the "realities that Brexit has wrought", economist Adam Posen said.
Former business secretary Sir Vince Cable and nearly 60 economists have warned new policies have echoes of those that contributed to the 2008 crash.
There will be no access to the European Union for Britain's derivatives clearing houses after June 2025, the bloc's financial services chief Mairead McGuinness said on Friday.
The European Commission’s financial services head insisted that U.K. clearinghouses will get no further access to the bloc’s markets after 2025, knocking back the Bank of England governor’s calls for an indefinite trade route into the European Union.
Move by UK regulator seen as limiting relocation to EU’s financial centres.
The U.K.’s plan to review its financial rulebook undermines prospects of a deal with the European Union on post-Brexit market alignment, according to a leading EU lawmaker on the issue.
Andrew Bailey said the deal was broadly in line with what the BOE forecast in November.
“Well, I think the long-term effects ... would be larger than the long-term effects of COVID.”
Andrew Bailey said failure to agree to deal would cause long-term damage to UK economy
Andrew Bailey reminds banks of the need to have contingencies in case talks between UK and EU leaders do not result in a deal by 31 December.
While large multinationals may be able to ride out the economic turmoil on the horizon, some smaller firms have more to worry about.