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The British government has chosen unilaterally to break the protocol, which it signed two years ago – but Europe stands by it.
Duncan Brock, group director at the Chartered Institute of Procurement & Supply, said Brexit remained a 'thorn in the side' of manufacturers, as supply chain managers continued to report that 'ports and paperwork were their undoing' in June. / 'Some firms also noted that ongoing Brexit-related difficulties and weaker growth had impacted new order intakes from the EU,' the report added.
Growth in the UK’s manufacturing sector slowed further last month to a two-year-low as concerns over the global economy and raw material shortages impacted new orders.
UK electricity prices are the most expensive of any European automotive manufacturing country and 59% above the EU average, according to the SMMT. / UK firms could have saved nearly £50 million annually if they were buying energy in the EU.
A study by the Resolution Foundation think tank and London School of Economics details some of the outcomes of the decision to quit the EU - six years after the historic vote.
Brexit has reduced the competitiveness of the British economy, with alarming implications for productivity and wages, according to the Resolution Foundation.
Real pay set to be £470 lower per worker each year, say top economists. / “We can’t blame Brexit for all of the 5.2 per cent GDP shortfall … but it’s apparent that Brexit is largely to blame,” said John Springford, author of the CEF study.
ONS figures show GDP fell by 0.3 per cent in April, with all three main sectors suffering a fall in output for the first time since January 2021.
An influential survey found that the UK’s manufacturers saw their growth drop to the lowest since October.
The expansion of the UK's manufacturing sector slowed to a seven-month low as inflation ate into household spending and exports dropped in part due to Brexit.
The Northern Ireland Protocol can give the region an economic advantage but will require further moves by both sides, the head of the UK's biggest business association has said.
A bipartisan US congressional delegation is due to meet Irish premier Micheal Martin in Dublin.
A RECORD 78 per cent of UK firms attempting to recruit faced difficulties in finding staff in the first quarter, a survey by British Chambers of Commerce shows.
Brexit is weighing on exports, while demand is down due to the Ukraine war. / The number of new export orders dropped for the sixth time in second months, in part due to Brexit-linked problems.
Tor Mackenzie, Founder of MAD Yorkshire takes stock of the issues created by Brexit and how the industry can bounce back.
Jacob Rees-Mogg raises business hopes by saying there is ‘no point’ to tests – but is slapped down by No 10
Continuing the letter to Jacob Rees-Mogg, reminding him – he seems to need reminding – of the many new opportunities created by Brexit.
The recent report from Fox’s Global Britain Commission sets out Britain’s productivity problem but offers no answers to it.
Just over a year since the UK left the single market and customs union, and despite the impact of the pandemic, which makes this kind of analysis all the trickier, we can begin to analyse the impact that Brexit has had on the UK economy. These impacts will vary significantly by sector and also by region. In this report, the authors investigate what they might be in the area of manufacturing.
Top concern is labour shortages as 28% of manufacturers say trade with EU has increased.
HALF of manufacturers fear Brexit customs costs will harm their businesses this year, according to a leading industry body.
Company leaders said Brexit is one of their biggest concerns – with key issues being a lack of access to EU migrants.
One year after the UK completed its exit of the EU, two-thirds of British manufacturers have said that Brexit has hampered their business ‘moderately or significantly’.
Make UK says two-thirds of companies fear customs delays and red tape from new rules will further hamper supply chains.
Analysis: The UK’s revised-down Q3 figures should come as no surprise given business has been in second gear since 2016.