Tag: Brexit

Following the recent events where the British Government announced its plans on ten Freeports that will boost UK's economic growth after the Brexit, the British Ports Association applauds the plan and highlights that the UK ports will be extremely benefited.

The UK Government announced its plan on establishing Freeports after Brexit, to boost the UK's growth and ensure towns and cities across the UK benefit from Brexit trade opportunities, as British ports and airports will be invited to bid to become one of up to ten Freeports.

The recent events in the UK, saw UK Chancellor, Sajid Javid, announcing £2.1billion in extra funding to prepare Britain for a no-deal exit on October 31. Following the announcement, Richard Ballantyne, BPA Chief Executive, applauds the decision on the additional resources that will support the preparations.

The British Ports Association welcomed the new Transport Secretary,Grant Shapps MP, to his role and commented on the opportunities that ports offer in boosting the UK Government's agenda on trade and prosperity. The new Secretary discussed on Brexit, on the free ports project and reappointments at the Department for the Environment, Food and Rural Affairs.

Actors of the Scottish seafood industry have told UK environment and food secretary Michael Gove, that more needs to be done in order to protect exports after Brexit. More specifically, they worry about delays of fresh fish being delivered by truck to Europe.

Transport companies are being called to bid in order to provide extra freight capacity in case of a no-deal Brexit on 31 October. The ferry procurement process as the UK was preparing to leave the EU on 29 March, costed taxpayers over £85m.

As Reuters reports, many are the shipping companies leaving Britain's shipping registry in light of the uncertain feeling of Britain's departure from the European Union and future commercial relations. The departures could also disrupt any plans the British Government has to secure additional space on ships to help cope with potential trade disruption, under the possibility of a no-deal Brexit.

Economic growth around the world is decreasing, and various governments, including Germany, China and South Korea, have announced stimulus packages to boost their economies. In fact, the International Monetary Fund expects global GDP growth to slow from 3.6% in 2018 to 3.3% in 2019, before returning to 3.6% in 2020.

The UK Transport secretary is back in the High Court, on a case related to his decision to award more than £100 million in contracts to three ferry companies under no-deal Brexit plans. UK-based P&O Ferries sued the British Government over the settlement, claiming that its rival, Eurotunnel, was given a competitive advantage.

The UK Department for Transport is cancelling contracts with Brittany Ferries and DFDS to provide extra ferry services after Brexit, which could cost the taxpayer more than £50m. UK transport secretary said the cancelled contracts were part of a £4bn no-deal "insurance policy" the government had put in place.