UK unemployment fell by 65,000 to 1.36 million in three months to June - the lowest for more than 40 years, official figures from the Office for National Statistics (ONS) show. They also show a rise in productivity, but a slowdown in wage growth.
A no-deal Brexit would be a “nightmare scenario” for the insurance industry and must be avoided “at all costs” to safeguard the future of the sector, a new report has warned.The report by global law firm Kennedys said that slow progress in Brexit negotiations has forced many insurance companies to draw up – and in some cases implement – plans to move part of their business out of the UK, with Dublin a favored destination.
Prime Minister Theresa May has been challenged to set out a “plan B” for Brexit during talks with Scottish First Minister Nicola Sturgeon in Edinburgh. Mrs. May was in Scotland to mark the signing of a “city deal” investment package for the south east region.
A no-deal Brexit poses a risk to the public because the UK would lose access to EU-wide security powers and databases, police leaders have warned. Police and crime commissioners say law enforcement agencies “face a significant loss of operational capacity” if the arrangements stop.
British farmers have called on the government to make food security a top priority on the day the country’s cupboards would run bare if households relied only on British produce. A long-term decline in self-sufficiency that has stagnated at around 60% in recent years means around three quarters of the shortfall is imported from the rest of the European Union.
British Defense Secretary Gavin Williamson insisted on Tuesday that Britain's military will not be diminished after it leaves the European Union next year. “Britain leaving the European Union has no impact in terms of the security and defense of Europe,” Mr Williamson said in a speech at the Atlantic Council in Washington.
Bank of England Governor Mark Carney said on Friday Britain faces an “uncomfortably high” risk of leaving the European Union with no deal, comments that drove sterling to an 11-day low against the dollar.
Companies have been left in the dark over planning for Brexit amid an “information void”, a leading business group has warned. The Institute of Directors has called on the government to speed up guidance on what companies should expect if no deal on leaving the EU is reached.
The Government of Gibraltar has, since 2016, been preparing for all possible outcomes in relation to the departure of the United Kingdom and Gibraltar from the European Union. This is a perfectly sensible thing to do in view of the ongoing UK/EU discussions and the preparations for all eventualities announced by both sides.
The Bank of England announced a rate hike despite ongoing uncertainty over the future of the U.K. economy. The Monetary Policy Committee voted unanimously for an increase in rates from 0.5 to 0.75% on the back of a strong labor market and credit growth.