In an unwelcome verification of the Chancellor’s repeated reminders that we are living in a ‘changing world’, within hours of her Spring Statement her fiscal goal posts were facing an unceremonial relocation by the threat of 25% tariffs on all motor vehicles and parts exported into the USA. This followed hard on the heels of post-Statement observations by numerous economists
How will America’s ‘Liberation Day’ hit UK businesses? After weeks of increasingly fevered speculation, we finally know how the main thrust of the pivot towards protectionism in the US might affect the UK economy and what UK exporters will have to deal with: Tariffs will be charged at 10% on all goods exported by the UK to the USA, with
Major fiscal events are always a game of winners and losers. This Spring Statement was no different, though given the weak state of the UK economy and global uncertainty this was an even more precarious financial tightrope balancing act than many. The urgent need to boost defence spending was largely dealt with through the controversial slashing of the international aid
Some Budget measures are introduced with instant effect, usually to assuage public opinion about some perceived fiscal injustice. Others have a much longer fuse, stretching years into the future. The Autumn 2024 Budget changes fell between the two, giving those businesses affected just five months to adjust to having £25bn of the alleged ‘black hole’ in government finances dumped onto
The mood for the UK economy may be somewhat less than positive as it lurches sluggishly just above and below the zero-growth line, but our parochial worries pale into insignificance set against the implications of what is unfolding in Washington. Running a business, never mind planning for and investing in its future when global trade relationships and tariffs are being
There are many reasons why companies need to be closed. Sometimes it can be single-purpose companies that have achieved their objective, such as the completion of a property development, or a charity dedicated to dealing with a specific social issue which is achieved its purpose. Other reasons could be the retirement of the owner, or the mutually agreed ending of
