Friday , November 16 2018
Breaking News


UK minister: Customs lock-in after Brexit not ‘will of the people’

LONDON, ENGLAND - OCTOBER 29:  Minister of State at the Department of Energy and Climate Change Andrea Leadsom arrives for a Cabinet meeting at 10 Downing Street on October 29, 2018 in London, England. The Chancellor of the Exchequer, Philip Hammond, will deliver a budget speech later today to Parliament, the last before the official Brexit date next year of March 29, 2019.  (Photo by Jack Taylor/Getty Images)

London : The leader of the Commons Andrea Leadsom said Britain cannot be ‘held against its will’ in a customs arrangement. A Brexit deal that locks the U.K. into a customs union with the EU would not “fulfill the will of the people” and would probably be voted down by MPs, the House of Commons leader and Tory minister Andrea ... Read More »

UK and EU Strike Brexit Customs Deal


London : A draft Brexit deal struck by the UK and the EU looks to be in jeopardy due to opposition from both Leave and Remain supporting MPs. The UK government and the EU yesterday – November 13 2018 – reached an agreement over after almost two years of negotiations. Details of the agreement are yet to be released and ... Read More »

ASM continues to make contingencies for new UK Customs system


London : Agency Sector Management (ASM) is continuing work on contingency plans for businesses affected by the new UK’s Customs Declaration Service (CDS) as there is uncertainty whether the system will be fully-ready for roll-out. CDS is due to replace the current Customs Handling of Import and Export Freight (CHIEF) system in phases by January 2019, but ASM said there ... Read More »

PAC has ‘serious concerns’ over UK border and new customs IT system


The Public Accounts Committee (PAC) continues to voice its concerns over the readiness of HM Revenue and Customs’ (HMRC) new customs IT system. In its report on HMRC’s performance in 2017-18, the PAC said that although it recognises that the department is facing significant challenges, the committee is worried about progress. It added that the committee members “remain concerned about ... Read More »

Brexit backstop deal set to cover all of UK

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Ireland : The final deal on Britain’s withdrawal from the European Union is set to include a backstop that will apply to the entire United Kingdom, but will have additional measures for Northern Ireland to ensure there is no hard border. The Irish Times understands a common view is emerging in Dublin, London and Brussels on the contentious issue. A ... Read More »

Barcelona port: Fire as ferry crashes into crane


London : Dock workers were forced to flee when a passenger ferry crashed into a huge crane at the port of Barcelona in Spain. The crane collapsed and containers containing flammable products caught fire.The collision was caused by bad weather, with strong winds blowing the vessel off course, according to union bosses. Read More »

New EU customs plans could break Brexit deadlock


London : There are fresh hopes of a Brexit deal as EU chief negotiator Michel Barnier offered the UK an olive branch on the Irish Border. Mr Barnier briefed EU ambassadors yesterday during a meeting in Paris on plans to offer Prime Minister Theresa May a UK-wide customs arrangement while a new trade deal is being negotiated. The offer would ... Read More »

Hopes rise of UK-EU financial service deal


London : The UK has struck a deal with the EU on post-Brexit financial services, according to unconfirmed reports. The Times newspaper said London had agreed in talks with Brussels to give UK financial services firms continued access to the bloc. The pound has risen 1% against the dollar in response. But a government source said that was “a rather ... Read More »

Cathay Pacific enlists UK company to assist with data breach


London : Cathay Pacific Airways has enlisted a company that was itself once caught up in a hacking scandal to help deal with the fallout of a data breach that affected more than 9-million passengers. Asia’s biggest international carrier is offering customers hit by the hack — which saw passport details to e-mails illegally accessed — the option to take ... Read More »

Australia is the latest country whose banks are planning to abandon London as Brexit looms

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Sydney : Australian banks with UK operations are beginning to put in motion plans to shift staff and other assets out of London as the possibility of a no-deal Brexit looms large in their thoughts. According to a story from the Financial Times on Monday, Australia’s largest bank by assets, Commonwealth Bank of Australia (CBA), has set in motion plans ... Read More »

New Brexit offer would put all of UK in a customs backstop


London : Prime Minister Theresa May is set to face down her Conservative critics amid reports of a fresh EU offer aimed at breaking the Brexit deadlock. There are signs Mrs May believes she can fend off the latest attacks from within her own party, as she attends a meeting of the influential 1922 Committee of backbench MPs today. It ... Read More »

NI Brexit trade and customs warning


London : Northern Ireland is not well prepared for a no-deal Brexit in areas such as trade and customs, auditors have said. Planning is also “severely constrained” by the uncertainty surrounding the border, migration and the repatriation of powers from Brussels, said the Northern Ireland Audit Office. Planning responsibilities fall to Westminster as “reserved” powers. But these powers were never ... Read More »

Brexit deal is 95% settled, UK’s May to tell Parliament


London : British Prime Minister Theresa May will tell lawmakers Monday the “vast majority” of a Brexit deal has been reached with European Union leaders, as she attempts to prove she’s making progress in talks amid criticism from all sides at home. According to her prepared remarks, May will say “95 per cent of the withdrawal agreement and its protocols ... Read More »

UK’s May risks Tory split with Irish border concession to appease EU


London: UK Prime Minister Theresa May is said to be ready to ditch one of her key Brexit demands in order to resolve the vexed issue of the Irish border and clear the path to a deal, according to people familiar with the matter. The fix opens the possibility that Britain would end up bound indefinitely to the European Union’s ... Read More »

Roll-out of new UK customs declaration system too slow as Brexit looms


London:UK freight industry sources are becoming increasingly anxious that roll-out of the country’s recently introduced Customs Declaration System (CDS) is not quick enough and could throw the country’s international trade into chaos in the event of a no-deal Brexit. At the recent annual general meeting of the UK’s Association of Freight Software Suppliers (AFSS), it transpired that since the HMRC ... Read More »

Gibraltar admits there will be tax and customs deals with Spain after Brexit


London : The government of Gibraltar has admitted that London and Brussels are putting the final touches to a specific protocol for the British Overseas Territory in the UK/EU Withdrawal Agreement, and that there will be “a set of practical measures spelled out in separate arrangements with Spain covering tax cooperation, police and customs cooperation, the environment, citizens’ rights and ... Read More »

UK will not accept indefinite customs union : Raab


London : The UK will not accept a Brexit deal that involves being indefinitely locked into a customs union with the EU, Dominic Raab has said. Britain’s Brexit Secretary said a provision on a customs union which was not “finite” would fail to deliver the result of the 2016 referendum. Downing Street has insisted that Prime Minister Theresa May would ... Read More »

Brexit Talks Intensify, Zero In on U.K. Customs Fix


London :British and European Union officials are locked in talks in Brussels over a compromise Brexit deal that could see the U.K. remain temporarily in the EU’s customs regime, people familiar with the negotiations said. Emma Ross-Thomas reports from London on “Bloomberg Daybreak: Americas. Read More »

IMF gives UK government green light to ease austerity

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London: The IMF has also urged the Bank of England to be cautious about raising interest rates. With Brexit uncertainty hanging over the economy like a fog, the BoE should show flexibility, it argues: In the United Kingdom, where the output gap is closed and unemployment is low, a modest tightening of monetary policy may be warranted, although at a ... Read More »

Diverting traffic from Dover ‘would cost £2.5bn’


London : The UK government recently suggested sending food exports to the Netherlands and Belgium via ports in Essex and Suffolk, rather than shipping via Dover to France if the French government imposes new security checks that delay traffic to Calais in the event of a ‘no deal’. The proposed routes include Harwich to Rotterdam and Felixstowe to Vlaardingen, in ... Read More »