Former PM’s disastrous tax-cutting plan piled an extra £91m on the UK’s payments to the bloc, Treasury documents show.
Sterling's drop at the time of former British Prime Minister Liz Truss's failed budget plans meant the British taxpayer stumped up tens of millions of pounds extra to fund Brexit divorce bill payments to the European Union, paid in euros, new figures show.
The Brexit cult that blew up Britain
21/10/2022
For a small band of libertarians, Liz Truss’ resignation is the final act in an 11-year project to remake Britain.
The economic costs of Brexit were masked by the Covid-19 pandemic and the crisis in Ukraine. Now the effects have become clear.
Disastrous mini-budget has seen Britain become gag line on the international stage.
Experts from the Institute for Fiscal Studies, the Resolution Foundation and others agreed Kwasi Kwarteng’s unfunded tax cuts played a role.
Bruno Le Maire is the French opposite number to chancellor Kwasi Kwarteng.
PM and chancellor say they will not publish projections until late November despite them being ready next week.
A weaker than expected recovery from the coronavirus pandemic has left the UK as the only G7 country with a smaller economy than in early 2020, according to official figures likely to further undermine the government’s tax-cutting measures.
"Investors have got the message. Britain is not the bet it once was." / The Bank of England was forced to step in yesterday to prevent mass insolvencies of pension funds.
Brexiteer MP overheard talking about markets on night of 2016 referendum vote. / Chancellor Kwasi Kwarteng reportedly said “who cares if Sterling crashes” in the immediate aftermath of the Brexit referendum result in 2016.
"I am very fearful for Britain on the path that it is travelling." / Former US Treasury Secretary Larry Summers says Brexit and Liz Truss’s extreme tax cutting is turning the UK into a “submerging market”.
Brussels has warned Britain not to break their post-Brexit trade deal by slashing regulation in its new drive for economic growth.
Red tape continues to frustrate small businesses as the hunt for the sunlit uplands goes on.
The Chancellor is trying to keep talent in a financial sector that is losing ground to the EU. / Of all the things the government could be doing to improve the economy right now, scrapping the cap on bankers’ bonuses seems like the most brazenly tone-deaf.
Post-Brexit government reforms to cut red tape face civil service backlash – for ‘creating more red tape’
16/08/2022
Plans to cut down needless regulations by reviewing policies after two years have faced criticism from Whitehall departments amid claims the proposals will be time consuming and burdensome.
To do their jobs properly, scientists need stability. They need secure sources of funding. They need to be able to collaborate with other researchers across the globe, without unnecessary barriers. / But there’s a huge question mark hanging over the UK’s involvement in major scientific programmes like Horizon Europe.
The economic fallout from leaving the EU is becoming all too apparent.
Nicholas Walton gives up leadership of €2.8m pan-European research after dispute over Northern Ireland protocol.
Stagflation reflects the "realities that Brexit has wrought", economist Adam Posen said.
Greg Hands was asked why Michael Gove made the promise if it is now considered a bad move.
Fears are growing of Christmas chaos for British businesses and consumers after industry warned of factory shutdowns within weeks as fuel prices spiral upwards.
ANGUS Robertson has said that Brexit is the "biggest single factor" in the UK's supply chain crisis.
TORY ministers caved in to Australian ministers’ climate demands during talks on a post-Brexit trade deal, according to a leaked government email.
The British government secretly dropped a series of climate pledges in order to secure a post-Brexit trade deal with Australia, leaked emails appear to show.