Brexiters’ favoured “max fac” customs proposal could cost businesses £20bn, warns HMRC boss Jon Thompson May 23, 2018 Brexiters’ favoured customs union proposal could cost businesses up to £20bn, the head of HM Revenues & Customs has warned. And while Theresa May’s preferred option would cost a fraction of that, it could take up to five years to implement. Jon Thompson, chief executive of HMRC, confirmed that the new customs partnership – in [...]
Boris Johnson tells Brexiters not to fear ‘betrayal’ over customs backstop May 21, 2018 Brexiters should not fear a “betrayal” over the UK’s customs relationship with the EU, Boris Johnson has said. The foreign secretary, who is currently visiting South America, urged his fellow Leavers to stop sniping at the Prime Minister over the so-called Irish backstop and give her “time and space” to strike the right deal. After [...]
Government calls in the lawyers to check if two customs options are legal May 16, 2018 Cabinet office minister David Lidington admitted this morning that the government had asked lawyers to look at the two post-Brexit customs options to check if they are legal. The cabinet is currently divided over two future customs options – the customs partnership model, which would see the UK collect taxes on behalf of the EU [...]
Brexit: Irish border can be solved with max fac customs proposal, claims Policy Exchange in Lord Trimble-backed report May 9, 2018 The Irish border problem can be solved with the “max fac” customs proposal favoured by Brexiters, according to a new paper endorsed by former Northern Ireland minister Lord Trimble. The “maximum facilitation” – or “max fac” – option would allow so-called trusted traders to cross the Northern Ireland and other EU borders freely, aided by [...]
Brexit: Foreign secretary Boris Johnson tears into Prime Minister Theresa May’s “crazy” customs partnership plan over control fears May 8, 2018 Boris Johnson has publicly slammed the Prime Minister’s preferred option for a future customs relationship with the EU, describing it in an interview as “a crazy system”. The foreign secretary has made no bones about preferring the second of the two options, known as ‘max fac’, in which trusted traders can move freely across borders, [...]
Brexit latest: Government forced back to drawing board over customs union after Sajid Javid and Gavin Williamson defy Prime Minister over proposals May 2, 2018 Government officials have been forced back to the drawing board after Theresa May failed to secure an agreement on the customs union at today’s critical Brexit war Cabinet. The Prime Minister has asked Brexit negotiator Olly Robbins and his team to bring forward “revised proposals” after the two options – both of which have already [...]
Brexit war Cabinet discussion today: What is a customs partnership, what is max fac, what is the hybrid model and when is the deadline for a decision? May 2, 2018 Theresa May convenes her Brexit war Cabinet today, where her most senior ministers will debate which of the government’s two customs union options it should take forward into the next round of negotiations. Although a decision is unlikely today it is thought there will be a standoff between Remainers including chancellor Philip Hammond and business [...]
How to revive the music industry: Imogen Heap explains why blockchain could bring about a music revolution July 10, 2016 Whether we stream it through our smartphones or buy tracks from our laptops, technology has made music more accessible than ever before. For consumers, this is good news. But for the music industry, it’s a different story. In 2015, the British Phonographic Industry (BPI) estimates music consumption increased 3.7 per cent and streaming grew a whopping [...]
EE IPO talks back on as Orange and Deutsche Telekom consider options for £12bn disposal October 16, 2014 The owners of EE, the UK’s largest mobile network company, are believed to be back in talks for either a float or sale of the business that could value it at up to £12bn. Orange and Deutsche Telekom, which each own half of EE, were considering strategic options for the business last year before deciding [...]
Blackstone to snap Birds Eye Foods up in $1.3bn cash deal November 19, 2009 Private equity titan Blackstone is set to buy Birds Eye Foods through its portfolio firm Pinnacle Foods. Pinnacle Foods, which already owns pancake mixture company Mrs Butterworths, will pay more than $1.3bn (£700m) for the biggest frozen-vegetable firm in the US. Birds Eye is majority owned by private equity firms Vestar Capital Partners, while New [...]