Money A free-trading Britain can prosper after Brexit

18:24  12 november  2017
18:24  12 november  2017 Source:   The Financial Times

Shortage of EU workers pushing up UK pay - survey of recruiters

  Shortage of EU workers pushing up UK pay - survey of recruiters British employers are having to raise their pay offers to hire new staff and counter a growing shortage of European Union workers ahead of Brexit, a group representing recruitment firms said on Wednesday. The Recruitment and Employment Confederation said its monthly survey showed starting salaries rose in October at the second-quickest rate since November 2015."We already know that EU workers are leaving because of the uncertainties they are facing right now," REC chief executive Kevin Green said."We therefore need clarity around what future immigration systems will look like.

Crisis, what crisis? Here’s why the UK’s sensible centre will prevail. A free - trading Britain can prosper after Brexit . Trade drives prosperity, which in turn underpins political stability and security. This commitment to free trade has played a central role in British economic and foreign policy for

Daily Telegraph: Deal or no deal, the City can still prosper after Brexit . The prize is great for each. Continued free trade with the UK would give EU customers access to the world’s markets and capital flows on their City A.M.: The five economic freedoms that Britain can win by leaving the EU.

UK exports continue to grow year on year: Cargo trucks disembark a cross channel ferry at the Port of Dover, U.K., on Friday, Sep. 22, 2017. Port officials warn that increasing the average time it takes trucks to clear customs by as little as two minutes could lead to 17-mile (27-kilometer) traffic jams. Photographer: Luke MacGregor/Bloomberg © Bloomberg Cargo trucks disembark a cross channel ferry at the Port of Dover, U.K., on Friday, Sep. 22, 2017. Port officials warn that increasing the average time it takes trucks to clear customs by as little as two minutes could lead to 17-mile (27-kilometer) traffic jams. Photographer: Luke MacGregor/Bloomberg

In June 2016, the people of Britain voted to write a new chapter in the country’s history. Since then, not a day has passed without passionate debates on both sides of the Brexit divide.

As the UK leaves the EU, for the first time in more than 40 years it will be in charge of its own trade policy.

Success in trade and investment is vital for national prosperity. And, contrary to many predictions, the first year since the referendum saw a record 2,265 inward investment projects in the UK, an increase on the previous year.

Big banks ‘preparing to move London jobs abroad’ due to Brexit uncertainty

  Big banks ‘preparing to move London jobs abroad’ due to Brexit uncertainty Senior banking executives are growing increasingly fearful about whether the Government will secure a transitional arrangement.A consortium of banks including JPMorgan Chase, Goldman Sachs and HSBC warned US commerce secretary Wilbur Ross that they might start moving staff abroad in the near future, the Financial Times said.

Open Europe's new report on Brexit concludes there is a life for Britain outside the EU. However, to really prosper post- Brexit , any UK government would need to pursue policies that many of those who want to leave the EU may not want to see – including much freer trade with the rest of the world

Menu. 8 October 2015. Britain will prosper after Brexit . The UK ranks as the world’s top ‘soft power’ and with many strategic advantages from our language, culture, sport, education, humanitarian support and world reach – not to say our free trade outlook and fifth largest world economy – we have nothing

Our exports continue to grow year on year. Countries such as South Korea and Japan are now fast-growing markets for UK exports, while Britain’s trade deficit with the EU widened to £60bn in the 12 months to September 2016.

Related: UK industry shines but Brexit shadow looms (Provided by Reuters)

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It’s no surprise — even the International Monetary Fund predicts 90 per cent of global growth over the next 20 years will come from outside Europe.

M&S signals more store closures in shake-up

  M&S signals more store closures in shake-up Marks and Spencer has signalled it is to accelerate store closures as it bids to make "significant" cost savings and "reshape" the business.The chain said it was stepping up its transformation efforts across M&S in a bid to return the company to its former glory as the darling of UK retail, with priority placed on a digital-first approach.

A free - trading Britain can prosper after Brexit . Britain can stay in EU, Article 50 official says.

However, transforming Britain into the deregulated, free trading economy it would need to become outside the EU sounds easy in theory, but in practice could come First, it strengthens our negotiating hand, clearly demonstrating that Britain could prosper outside the EU – Brexit is not a bluff.

The tectonic plates of the world economy are shifting. With an independent trade policy, Britain can put itself in a strong position to benefit, opening up access to fast-growing markets across the world. So we need to be prepared.

Earlier this week, the government introduced the Trade Bill to provide a framework for preserving existing trading relationships, including agreements we are already part of under the EU.

Combined with the forthcoming Customs Bill, this will help to minimise disruption to imports and exports, whatever the outcome of our negotiations.

This is a clear signal of our commitment to a “global Britain” with free and open trade at its heart.

The department of international trade has already established 14 working groups with 21 countries from the USA to Japan, India and Australia, to explore the best ways to progress our trade and investment relationships.

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Of course, trade can only prosper within the right global environment. The established order of free, fair and open commerce is not something we can take for granted.

So as we regain our independent seat at the World Trade Organisation, of which we were a founding member, we will use our position to resist attempts to put up barriers to business, including by G7 and G20 countries that are turning their back on the principles that made them rich and powerful.

The economic and moral reasons for doing so are compelling. During the 1990s, per capita income grew three times faster in developing countries that lowered trade barriers, compared with those that did not. The result was drastically reduced poverty in those countries and increased global prosperity.

All the aid programmes in the world, even ones as generous as our own, come nowhere close to the ability of free trade to reduce poverty.

Now is not the time to pull up the drawbridge and retreat into the failure of protectionism. Trade drives prosperity, which in turn underpins political stability and security.

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Britain 's Parliament has already scrapped over the rights of EU citizens to remain in the UK after Brexit , publicly airing domestic divisions over migration. International trade is expected to fall due to Brexit , even if Britain negotiates a raft of free trade deals.

Trade After Brexit . With Britain voting to leave the European Union, it could face a raft of new tariffs. Right now, all of this trade faces no tariff. But what might trade look like under different scenarios? The WTO Scenario. Britain is a member of the World Trade Organization.

This commitment to free trade has played a central role in British economic and foreign policy for decades and that will continue.

Of course, free trade cannot mean a free-for-all. Therefore, the UK will create a new independent trade remedies body to ensure that its businesses compete on a level playing field, defending them from unfair trade practices or unexpected surges in imports. For the first time in more than 40 years, the trade concerns of the UK will be represented by the UK.

This is an unprecedented opportunity to create a trade policy that works for everyone in Britain, one that boosts British businesses and workers and puts more pounds in the pockets of British consumers.

In the months ahead, there will be those who say that this task is too hard, and that our country is not up to it. But that’s what they said in the early 1980s.

Then the government of Margaret Thatcher took on the power of the trade unions, tackled Britain’s failing state-owned industries, championed a capital-owning democracy and ushered in a new era of prosperity.

With resolve and imagination we can now help shape a global trading environment fit for the 21st century.

The writer is secretary of state for international trade

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Sainsbury's suffers 9% fall in half-year profits .
Sainsbury's has reported a 9% dip in half-year profits to £251m despite a 17% rise in group sales. The group said losses at Argos, which it bought last year and has been integrating into its supermarket offering, higher wages and investment in price at its stores took their toll on underlying performance in the six months to 23 September.Sainsbury's reported a 1.6% rise in like-for-like sales over the period, excluding fuel, but the figures showed a big slowdown in the second quarter at just 0.6% - down from 2.3% in the first.

Source: http://uk.pressfrom.com/news/money/-223870-a-free-trading-britain-can-prosper-after-brexit/

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