UK goods imports from non-EU countries leapfrogged mainland European imports for the first time in 2
In 2021, for the first time in 25 years, the UK spent £30bn more on imported goods from outside the European Union (EU), Britain’s largest trading partner, than from the 27-nation EU bloc, according to Office for National Statistics (ONS) figures. At the same time, UK exports to EU countries fell.Government’s ambitious Levelling Up agenda offers abundant private capital opportunities
The government’s recent ‘Levelling Up the United Kingdom’ White Paper aims to reverse a sprawling set of deep-seated regional economic, political and social inequalities by 2030. The agenda will require up to £1 trillion in spending over the next decade, according to an analysis by The Good Economy (a social advisory firm), the Impact Investing Institute and Pensions for Purpose.New Rules Provide Another Lifeboat for Rescuing SMEs
After the British government announced an easing of COVID-19 restrictions and moving the country to a position of “living with COVID,” the full extent of the pandemic’s damage to UK businesses will come sharply into focus during the next 12-24 months. Many SMEs are already in a fight for survival, having been battered by rising input costs, increased borrowing and the curtailment of support measures.Cryptocurrency: the future is decentralised
2021 was a breakthrough year for the institutional adoption of cryptocurrencies. The sector has matured well beyond its early reputation as a payment method for criminal activity into a US$2 trillion asset class comprised of an eclectic mix of blockchain solutions for real-world problems and industries across finance, payments, digital ownership and scarcity, arts and collectibles, gaming, supply chains, healthcare, public services, and even governments.UK inflation soars to three-decade high intensifying monetary policy dilemma
UK inflation soared to a near three-decade high, reaching 5.4% in the 12 months to December, driven by the rising costs of energy, food, household and transport. The consumer price index (CPI) rose to the highest level, the hottest since May 1992, at 7.1%, according to Office for National Statistics (ONS) data.UK commercial property investors braced for higher borrowing costs
The refinancing requirement for UK commercial property investors is expected to climb next year, as extended loans during the pandemic expire. Overall, we expect alternative lenders to further increase market share, in a year when interest rate increases push up borrowing and hedging costs.Omicron threatens the nascent UK labour market recovery
The emergence of Omicron, the latest Covid-19 variant, threatens the positive autumn momentum building in the UK labour market. Early indicators suggest only a tiny proportion of the 1.14 million furloughed workers were made redundant after the Coronavirus Job Retention Scheme (CJRS) expired. November’s data, published in mid-December, is also expected to show that positive employment trends continued. If true, this confounds fears of rising unemployment at the end of the CJRS. However, the latest pandemic curveball may blunt the positive momentum.Covid-19 commercial rent arrears and new arbitration scheme
Earlier this month, the UK government published a revised Code of Practice for commercial property relationships alongside a draft Commercial Rent (Coronavirus) Bill which will create a legal arbitration regime in respect of Covid-related rent arrears.Inflation risks and labour market frictions weigh heavy on UK’s economic recovery
Escalating inflation in the UK economy reached a decade-long high in October, as higher energy prices, supply chain disruptions, labour shortages, wage and food price inflation all blunted the economic recovery.Airline industry’s embryonic recovery faces hard landing obstacles everywhere
Pent-up demand in the airline industry might suggest the embattled sector is on the cusp of a recovery. But for every positive indicator, there is a headwind to dampen the optimism. The airline sector's recovery remains fragile, and the embattled global airline industry may still face a harsh winter if a new virus wave emerges.Federal Reserve’s monetary policy: policy error or data-driven prudence?
US Federal Reserve monetary policy continues to play an outsized role in directing the near-term trajectory for the global economy. US monetary policy impacts the domestic economy, the global economy and the financial markets.Retail sector headwinds continue to build under the surface: Knock-on impact on commercial property
Downside risks for the UK retail sector continue to mount as we head into the autumn. A surging Delta variant threatens the momentum of recovery in the economy and consumer spending, while governmentHigh Court authorise first mid-market restructuring plan in landmark case
A restructuring plan for a mid-market company has been approved by the High Court for the first time, in a case undertaken by the restructuring team at BTG Advisory.Covid loan defaults could cost the Treasury up to £25bn
UK companies borrowed almost £80bn across the government’s flagship coronavirus loan schemes in the year to March, according to recently published Treasury data, costing the Treasury around £25bn in loan defaults.Tapering furlough scheme prompts decision time for pandemic-hit corporates
The coronavirus job retention scheme (CJRS) starts to taper this week, which will prompt employers that receive funding to quantify their long-term workforce size as the UK slowly emerges from its third extended national lockdown.Find the right professional using the below dropdowns. Our reach covers the globe with a network of over 300 offices.
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