Brexit already doing massive harm to the UK. Over 200 examples of job losses, lost investment, police & army prepping, companies moving assets to the EU or redomiciling. Meanwhile, the Government burns through £billions chasing a nutty no deal Brexit. Real life, not project fear!
The Government has spent £4.2 billion pounds on Brexit preparations (£2.2 billion in previous Budgets, plus an additional £2 billion in the most recent Budget.) 1/205
gov.uk/government/new…
EU citizens will be obliged to register to stay in the UK after Brexit (deadline is June 2021). The registration system, which cost the Government £175 million, will have to cope with over 3,500,000 applications, or several thousand a day on average. 2/205
news.sky.com/story/eu-settl…
Barden Corporation is closing down its Plymouth factory after 51 years, putting 400 jobs at risk, as its parent company Schaeffler shifts production to various sites outside the UK due to Brexit. 3/205
plymouthherald.co.uk/news/business/…
Barclays was granted legal permission in January 2019 to move €190bn (£166bn) of assets from the UK to Dublin in advance of 29 March 2019. The sum represents about 15% of the bank's total assets. It is doubling its Dublin operation to 300 staff. 4/205
bbc.co.uk/news/business-…
8 health providers have warned of medicine shortages in the event of a no-deal Brexit: "we do not believe that the current medicine supply plans will suffice, and we will have widespread shortages if we do not respond urgently." 5/205
…33r3krz5b97d1-wpengine.netdna-ssl.com/wp-content/upl…
In December 2018, the Government signed agreements worth £107.7 million with 3 ferry companies to provide extra capacity in event of a no deal Brexit. Turns out Seaborne (£13.8 million deal) had no ferries, or experience in the transport industry! 6/205
theguardian.com/politics/2018/…
A $15 billion hedge fund specialising in distressed debt is gearing up to profit out of Brexit chaos. (You just knew the vultures would be circling...) 7/205
bloombergquint.com/markets/marath…
A ferry company has brought in 2 new ships, including the "Brexit Buster" ship Celine (600 truck capacity, world's largest short sea roll-on roll-off ferry). Idea is to bypass the UK and send freight directly from Ireland to Belgium and Spain. 8/205
irishtimes.com/news/ireland/i…
Chubb (world's largest publicly traded property and casualty insurance company) is redomiciling from the UK to France. It has already received permission from the french regulator, and aims to complete its move on 1 January 2019. 9/205
chubb.com/uk-en/brexit/
Columbia Threadneedle switched £6.2 billion worth of assets from UK domiciled funds to Luxembourg domiciled funds. 10/205
ftadviser.com/investments/20…
Home Office private beta of EU citizen registration system took 2 weeks to process just 1,053 applicants (despite testing relatively "easy" batches of cases). Full system will have to work 36x faster to cope with *3 million* people in 3 years. 11/205
gov.uk/government/pub…
Standard Life reported having incurred £12 million of "Brexit related costs" in its 2018 half-year results report. 12/205
otp.tools.investis.com/clients/uk/sta…
The annual cost to the NHS of securing all necessary visas and other documentation for its overseas staff post-Brexit (i.e. under the new immigration regime) is estimated at £490 million. 13/205
rcplondon.ac.uk/news/490-milli…
Lloyd's of London (company with 15% of business done with EU27 counterparts) officially opened Lloyd's Brussels, its post-Brexit EU headquarters, in early November 2018. The new operation has 50 staff, and plans to service customers across the EU27. 14/205
insurancejournal.com/news/internati…
SwissQuote cancelled its expansion plans in London after Brexit, and instead bought a bank in Luxembourg. Chief Executive: "With the coming Brexit we needed to have strategic options and Luxembourg is a very good place for these." 15/205
reuters.com/article/intern…
HSBC announced in its 2017 annual report that it had incurred $28 million of "costs associated with the UK’s exit from the EU". 16/205
hsbc.com/-/media/hsbc-c…
Haulage companies face a lottery for scarce permits to continue doing business internationally post-Brexit, after the Government admits there are less than 10% of the needed number of permits to go around. 17/205
ft.com/content/dd8a1c…
Bank of America has spent between $300 and $400 million preparing for Brexit, including establishing new subsidiaries in Paris and Dublin, moving staff etc. Final cost not yet available as project is ongoing. 18/205
bloomberg.com/news/articles/…
Brexit is killing a crucial source of early-stage tech funding: "Funding for UK tech firms by the European Investment Fund (EIF) fell by 91 per cent during 2017 to €61.1m (£53m) compared with €708.8m the previous year." 19/205
inews.co.uk/news/technolog…
DEXEU (the Brexit Ministry) has spent over £100 million (estimated) on staffing costs since the referendum. That figure's just for the people in the department, and doesn't account for any other costs... 20/205
gov.uk/government/pub…
The Government estimates that it will cost the chemicals industry £450 million to reregister chemicals under a post-Brexit regime. (That's just to replicate the status quo.) 21/205
publications.parliament.uk/pa/ld201719/ld…
So many firms are stockpiling food against the disruption of Brexit that a specialist cold storage company has now completely run out of room...
bbc.co.uk/news/uk-wales-… 22/205
Recardio is halting clinical trials in the UK of a new heart drug because of concerns over Brexit, and drug approval regimes. 23/205
fiercebiotech.com/cro/recardio-p…
Sir Jim Ratcliffe, the UK's richest person (and a Brexit supporter) decided to leave the UK for Monaco in mid-2018. 24/205
dailyrecord.co.uk/news/scottish-…
Scotland Yard is having to spend £2.4 million on setting up a no-deal Brexit "safety net unit" after Government ignored its reasoned warnings over how Brexit would make the UK less safe. 25/205
theguardian.com/politics/2018/…
European Medical Agency (EMA), Europe's medicines regulator, is moving from London to Amsterdam. It used to employ close to 900 people in London. It's had to cut its short-term service offering as it will lose at least 30% of staff during the move. 26/205
pharmaphorum.com/news/ema-cuts-…
HSBC is transferring legal ownership of its Polish and Irish subsidiaries from the UK to its French unit. 27/205
reuters.com/article/us-bri…
The Government has 7000 civil servants working on Brexit, plus Treasury funding for 9000 more. (Easy to imagine the mountains of red tape - and paper - they're generating as a result!) 28/205
gov.uk/government/pub…
New Look (fashion retailer) are closing a further 25 stores (85, up from planned 60 store closures) citing "significant headwinds and uncertainties, including Brexit". 29/205
bbc.co.uk/news/business-…
Investment in UK renewables fell 46% year-on-year because of Brexit concerns. 30/205
edie.net/news/10/UK-dro…
Deutsche Bank moved about half its new euro swaps business away from LCH (UK-based clearing house) and onto Eurex (based in Germany) in August 2018. 31/205
risk.net/our-take/58310…
Broadcasters have begun to move licenses to EU27 countries, since channels licensed in the UK will no longer have the right to broadcast cross-EU after Brexit. Viacom and Viceland have secured licenses in the Netherlands. 32/205
tvbeurope.com/business/broad…
GSK Brexit prep spend: "We currently anticipate that the cost to implement these and other necessary changes could be up to £70 million over the next two to three years, with subsequent ongoing additional costs of approximately £50 million per year" 33/205
gsk.com/media/4751/ann…
Pfizer - $100 million on Brexit prep: "Pfizer’s preparations are well advanced to make the changes necessary to meet EU legal requirements after the UK is no longer a member state, especially in the regulatory, manufacturing and supply chain areas" 34/205
investors.pfizer.com/financials/sec…
Schaeffler, a car parts company, is closing its factory in Llanelli, Wales, because of Brexit, affecting 220 jobs. The factory opened in 1957. The decision was described in the Welsh Assembly as "the tremor that will lead to the Brexit earthquake". 35/205
nation.cymru/news/schaeffle…
Standard Chartered has applied to turn its Frankfurt branch into its EU subsidiary. It initially expected to move 20 jobs, but recently announced that more would go. 36/205
uk.reuters.com/article/us-bri…
The Customs Declaration Service (CDS) is a major new HMRC IT system meant to replace existing customs systems. Supposed to be ready by January 2019. Delays mean it won't be ready by Brexit Day. Old and new systems will have to run in parallel. 37/205
cbronline.com/news/brexit-it…
Daiwa Capital Markets established a new subsidiary in Frankfurt on 3rd September 2018 "so that Daiwa can continue to provide a full service to its EU-based clients post-Brexit." 38/205
uk.daiwacm.com/site-tools/bre…
Steris PLC, a company with $2.6 billion in annual revenue, has redomiciled its HQ from the UK to Ireland due to Brexit. 39/205
seekingalpha.com/filing/4225572
Veterinary drugs producer Dechra Pharmaceuticals decided to move ahead with its contingency plans for a hard Brexit in September 2018, at a cost of £2 million. 40/205
uk.reuters.com/article/uk-dec…
A major financial firm, CME Group's BrokerTec, is leaving London for Amsterdam because of Brexit, taking its $240 billion/day repo market with it. 41/205
bloomberg.com/news/articles/…
Marshall Wace, one of the biggest hedge funds in the UK, has obtained a license to run management companies in Ireland & plans to grow its Dublin presence as a protective measure against Brexit. (Its chairman and CEO donated £100,000 to Leave) 42/205
cityam.com/2058888/hedge-…
Hiscox are transferring some aspects of their business to Luxembourg, and expect the Part VII transfer to complete by 1 January 2019. "The Transfer will move £421.5m of liabilities (and the corresponding assets) from HIC to HSA." 43/205
hiscoxgroup.com/sites/group/fi…
Panasonic is moving its European HQ from the UK to Amsterdam (the legal aspects of the move were completed in October 2018, as the £200 million capitalised UK company was absorbed by Panasonic's Dutch entity). 44/205
techcrunch.com/2018/08/30/pan…
Volex PLC is looking for new arrangements for approx $7 million in sales: "We have already begun looking for an alternate dock on mainland Europe to take delivery of the half of sales destined for EU end customers." 45/205
lse.co.uk/regulatory-new…
AstraZenica estimates its Brexit-related costs at £40 million for duplicate drug testing requirements, and building up product stockpiles. 46/205
fiercepharma.com/astrazeneca-br…
The London Stock Exchange is implementing its hard Brexit contingency plans: "These contingency plans include incorporation of new entities in the EU27 and applications for authorisation within the EU27 for certain group businesses." 47/205
theguardian.com/business/2018/…
MS Amlin receives the green light to redomicile Amlin Insurance SE from the UK to Belgium. 48/205
insurancebusinessmag.com/uk/news/breaki…
Once we're out of the EU, we'll be cut out of the pan-EU transport strategy (which unlocks billions of euro in grants and other funding). Indeed, EU transport maps will be redrawn (policy-wise, not literally!) so that the UK doesn't appear any more. 49/205
eur-lex.europa.eu/legal-content/…
The latest September 26 version of the UK Government's OFFICIAL list of remaining "Brexit Unknowns" runs to 63 pages. (That's despite the fact that its very first assumption is that we will get a Withdrawal Agreement.) 50/205
researchbriefings.files.parliament.uk/documents/CBP-…
Halford Group Plc stated in its FY19 interim results that: "The weaker pound since the Brexit vote has increased our cost of sales by a cumulative circa £40m by the end of FY18 compared to FY16." 51/205
lse.co.uk/regulatory-new…
A new work order for the "Galileo Control Segment" ground infrastructure monitoring the Galileo constellation of satellites was won by GMV Aerospace and Defence of Spain. Up until now, GCS had been provided by Airbus in Portsmouth. 52/205
esa.int/Our_Activities…
UK companies with a .eu domain name will no longer be eligible to renew them after Brexit, nor will they be entitled to register new .eu domains. This affects an estimated 300,000 domain registrations. 53/205
eurid.eu/en/register-a-…
The Financial Conduct Authority (FCA) says in its 2018/19 business plan that they "have identified total EU withdrawal demand [costs] of around £30m", and that part of that will have to be funded by raising the fees they charge firms. 54/205
fca.org.uk/publication/bu…
France's top banks are moving 500 jobs out of London due to Brexit. 55/205
financemagnates.com/institutional-…
Markel Corporation announced in July 2018 that it had been granted a license to establish an insurance company in Germany so as to be able to continue servicing EEA clients after Brexit. 56/205
markelinternational.com/intl/news/2018…
GoldCore opened Ireland's first institutional-grade gold storage vault in October 2018, anticipating investors will want to move gold bars from London to Dublin. The firm's initial target is 0.5% of the $300 billion of gold bars held in London. 57/205
irishtimes.com/business/marke…
The UK Government spent £700,000 on the tables and chairs for an office in Leeds being set up to deal with Brexit. The office will be fully kitted out by the beginning of December, and 1,000 staff dealing with Brexit issues will be based there. 58/205
politico.eu/article/uk-spl…
DHSC wrote to hospitals regarding potential imported food shortages under no-deal Brexit: "Instructions will be given to major producers of patient meals to put in place contingency arrangements, to account for short supply of certain ingredients." 59/205
theguardian.com/society/2018/n…
In October 2018, the CEO of Mercedez-Benz revealed to Paris motor show attendees that the company had been investigating the prospect of building cars in the UK, but killed the project after Brexit. 60/205
independent.co.uk/news/business/…
Liberty Specialty Markets is redomiciling its insurance company from the UK to Luxembourg 61/205
libertyspecialtymarkets.com/press-releases…
The European Banking Agency (EBA) - the banking regulator for the EU - moved its operations from London to Paris, affecting 160 staff. 62/205
consilium.europa.eu/en/policies/re…
JPMorgan and other leading US banks are getting ready to shift over 250 billion euro in assets from London to Frankfurt. 63/205
bloomberg.com/news/articles/…
British hauliers are already having to turn down contracts worth hundreds of thousands of pounds because of uncertainties surrounding a no-deal Brexit. 64/205
thesun.co.uk/news/7676717/b…
A hard Brexit may increase the price of Dutch plants by 50% due to customs delays, additional safety tests and red tape. But they can’t easily be replaced by increased UK production since 90% of shoots come from abroad. 65/205
politico.eu/article/dutch-…
XL Insurance Company SE (a company writing over £2 billion/year in insurance premiums) is redomiciling from the UK to Ireland in January 2019 due to Brexit (the Brexit connection is explicitly detailed in its annual accounts). 66/205
beta.companieshouse.gov.uk/company/SE0000…
XTX Markets is establishing a new office in Paris for post-Brexit trade (it is keeping its London office). [Article in French] 67/205
usinenouvelle.com/article/la-pla…
The UK Government has spent £5.5 million keeping Manston Airport open so that it can be used as additional overflow lorry parking after Brexit. 68/205
bbc.co.uk/news/uk-englan…
parliament.uk/written-questi…
STM Life is moving part of its business from Gibraltar to Malta to guard against the effects of Brexit. (Reminder: Gibraltar will leave the EU at the same time the UK does.) 69/205
internationalinvestment.net/brexit/stm-lif…
Corporate Sterling-denominated bond sales have slumped 34% this year, as companies put off investing in the UK due to Brexit uncertainty. 70/205
bnnbloomberg.ca/brexit-may-ris…
Royal & Sun Alliance Insurance plc is transferring approximately 6% of its insurance and reinsurance business to a new legal entity in Luxembourg, with the intention that the move be effective 1 January 2019. 71/205
rsagroup.com/support/brexit…
The UK Government is spending £92 million on a feasibility study to work out how it could build its own version of the Galileo GPS satellite network. Note that the money's purely for planning. It doesn't pay for any satellites, or space launches! 72/205
theregister.co.uk/2018/08/28/uk_…
Admiral Group is planning to transfer some of its UK business from Admiral Insurance Company Limited to an entity in Spain, Admiral Europe Compañía de Seguros, S.A, that was set on 20 December 2017. 73/205
admiralgroup.co.uk/our-business/c…
Credit Suisse is moving 250 jobs to Germany, Madrid and elsewhere in the EU27, including Luxembourg. [Article in French] 74/205
usinenouvelle.com/article/madrid…
Theresa May repeatedly cancelled national security meetings because of being overwhelmed by Brexit planning. 75/205
uk.businessinsider.com/theresa-may-na…
QBE Limited is reorganising the affairs of several of its group companies, using the Part VII mechanism, in order to be ready for Brexit. Follow the link for details of its plans to redomicile business to Belgium. 76/205
qbeeurope.com/about-us/brexi…
AIG operates in Europe through a single legal entity established in the UK (with branches across Europe). They are restructuring their business because of Brexit, and moving all non-UK business to a Luxembourg entity (planned by December 2018). 77/205
aig.be/microsites/bre…
Jaguar Land Rover has opened a new plant in Slovakia (expected capacity of 100,000 cars/year by 2020) and has begun shifting car production away from the UK, partly as a response to Brexit. 78/205
autonews.com/article/201810…
DLA Piper opened a new office in Dublin. Evaluating the market for some time, but Brexit was tipping point: "Brexit had been the catalyst to take another look and was the additional dimension which tipped the balance of the Dublin business case." 79/205
legalbusiness.co.uk/blogs/dla-beco…
The London-based Shadow Robot Company is outsourcing the bulk of production to Madrid after opening a new office there in response to Brexit. 80/205
uktech.news/news/british-r…
EasyJet spent approx. £4 million on Brexit preparations during the 6 months ending 31 March 2018. These involved setting up an AOC in Austria; most of the incurred costs were for the re-registration of aircraft. (See p30 of document at link below.) 81/205
corporate.easyjet.com/~/media/Files/…
Ferrovial (largest shareholder in Heathrow, owns Aberdeen, Glasgow & Southampton airports) is moving HQ from Oxford to Amsterdam. "The reason for the move is to maintain the group's international companies under the umbrella of [EU] legislation." 82/205
bbc.co.uk/news/business-…
Arch Capital Group is planning to continue from Ireland certain underwriting operations that are currently carried out by its UK insurer and its Gibraltar insurer. 83/205
businesswire.com/news/home/2018…
Tokio Marine Group is using a "Part VII transfer" to redomicile business from two UK-based subsidiaries (Tokio Marine Kiln Insurance Limited, and HCC International Insurance Company Plc) to a Luxembourg entity. 84/205
tokiomarinekiln.com/about-us/brexi…
Aviva, the huge insurance company, is moving a portion of its client base from the UK to Ireland. It expects the transfer to get approval in January 2019, and be effective 1 February 2019. 85/205
rte.ie/news/ireland/2…
A £500 million data centre contract was awarded by the UK Government without a competitive tender process because time was too short and it is needed as part of "critical national infrastructure". (Due to come online just 13 days before Brexit Day!) 86/205
cbronline.com/news/crown-hos…
Nomura is moving about 100 staff to a new Frankfurt office to use as a new trading hub servicing EU clients post-Brexit. They expect the move to be completed in early 2019. 87/205
itv.com/news/2018-08-0…
TP ICAP, the world's biggest interdealer broker, said its full-year earnings would be hurt by additional costs of about £10 million related to Brexit. It has chosen Paris as its EU headquarters post-Brexit. 88/205
proactiveinvestors.co.uk/companies/news…
Scisys is seeking shareholder approval to redomicile its holding company from the UK to Ireland in order to: "protect shareholder value & mitigate the possible negative effects of Brexit on the Group's space business". 89/205
polaris.brighterir.com/public/scisys/…
Legal and General Investment Management has received regulatory approval for a new Dublin-based business unit. It is planning to use it to manage its Ucits and alternative investment funds domiciled in Europe. 90/205
moneymarketing.co.uk/lgim-readies-b…
De La Rue in Gateshead had to write off £3.7 million in costs after failing in its bid to secure the tender to print the infamous post-Brexit "blue passports". Production was outsourced overseas. 91/205
chroniclelive.co.uk/business/busin…
Morgan Stanley is growing its Paris team in parallel to transferring certain roles to Frankfurt, in the context of Brexit. In total, the moves affect over 200 staff. [Article in French] 92/205
usinenouvelle.com/article/morgan…
Bewleys, the Irish coffee group, incurred €11.9 million in costs preparing for a hard Brexit, including increasing its warehouse facilities, and expanding its roasting capacity in the UK. 93/205
irishtimes.com/business/retai…
Make Architects has blamed a slowdown linked to Brexit uncertainty for a round of redundancies that will see around 10 staff lose their jobs from a total team of 169. 94/205
bdonline.co.uk/news/make-blam…
Independent insurance firm Robus Group opened a new office in San Gwann in Malta to be able to offer British clients access to the EU27 after Brexit. 95/205
bay.com.mt/uk-insurance-f…
Pharmacies are to be given the power to dispense alternatives to specified prescriptions under a "serious shortage protocol" law, without contacting GPs. They will also be able to dispense smaller quantities or weaker formulations.
chemistanddruggist.co.uk/news/pharmacis…
School meals provider Compass, which serves millions of meals a year, has said they may have to change menus, use alternative ingredients, and build up stockpiles as a result of Brexit. 97/205
news.sky.com/story/catering…
The M26 motorway was completely closed every weekday night between 19 November 2018 and 21 December 2018 to prepare sections of it for conversion into lorry parking in case of Brexit disruption at the ports. 98/205
rha.uk.net/news/press-rel…
The port of Ramsgate could be expanded using £200 million of Government money in the case of a no deal Brexit, according to Chris Grayling, the Transport Secretary. However, the actual upgrade work would take years. 99/205
thesun.co.uk/news/7725433/r…
Industrial distribution company Electrocomponents Plc is investing £30 million in stockpiling additional inventory in advance of Brexit Day. 100/205
uk.reuters.com/article/uk-bri…
Diploma (company that supplies Formula 1 components) has announced it is stockpiling some of its faster-moving production lines ahead of Brexit. 101/205
standard.co.uk/business/diplo…
British Standards Institution (BSI), the largest certifier of medical devices in Europe by value, is opening a Dutch subsidiary to give non-EU companies a choice of UK or EU27 certification (most companies are expected to choose the latter). 102/205
thetimes.co.uk/article/safety…
London Stock Exchange is moving its European government bond trading platform (MTS Cash) from London to Italy, effective 1 March 2019. 20% of its 13.4 billion euros worth of daily trade will shift to Milan. 103/205
reuters.com/article/us-bri…
A.M. Best, the specialist insurance sector rating agency, established a new office in Amsterdam to be able to continue to provide ratings to be used for regulatory purposes post-Brexit. The new office became operational on 1 October 2018. 104/205
ambest.com/emea/brexit.ht…
Prior to 2016, less than 50 solicitors from England and Wales also registered in the Republic of Ireland. Since the Brexit referendum, the number registered in Ireland has risen to over 2,000 (11% of named solicitors). 105/205
breakingnews.ie/ireland/tsunam…
Premier Foods (makers of Bisto, Oxo & Mr Kipling) estimate their working capital will be depleted by £10 million as a result of the need to stockpile raw materials as a contingency before Brexit. 106/205
bbc.co.uk/news/business-…
Dublin Port is spending €30 million on Brexit preparations, including €10 million on primary inspection posts and €20 million on secondary posts for State agencies that will carry out customs clearance checks, food and animal health checks. 107/205
irishtimes.com/business/trans…
The Electoral Commission reports that it cost £129.1 million to stage the 2016 referendum, including £94.5 million spent on administration. 108/205
inews.co.uk/news/brexit/br…
Scotland's largest turkey farmer is moving 10% of his business (tens of thousands of birds) to the Continent in preparation for a no-deal Brexit, and because he can no longer be assured of access to seasonal workers. 109/205
dailyrecord.co.uk/news/business-…
UBS has picked Frankfurt for its post-Brexit European hub, and expects to incur costs of more than US$100 million because of Brexit, including relocation and legal costs. 110/205
bloomberg.com/news/articles/…
Johnson & Johnson expects to spend US$80 million on new customs clearances and conformity assessment processes, and anticipates that its Brexit costs in the UK will peak at US$180 million in 2025. 111/205
bloomberg.com/news/articles/…
A Sheffield company, B.Braun Medical, spent £3 million on Brexit preparations. Boss said he "can't see anything positive about Brexit", and noted that it was "dead money" that could have been spent "recruiting, developing and training people." 112/205
sheffieldtelegraph.co.uk/news/business/…
Official HMRC no-deal Brexit impact assessment predicts £6.5 billion/year administrative burden on UK businesses from additional import/export declarations. Pure red tape costs, for nothing whatsoever in return. Like driving with the handbrake on. 113/205
gov.uk/government/pub…
Marrone Bio Innovations, Inc. changed its trademark plans for Regalia: "We recently withdrew the EU application due to Brexit and plan to resubmit using the Netherlands rather than the UK as the designated rapporteur." 114/205
sec.gov/Archives/edgar…
M&G Investments is transferring 21 UK-domiciled Oeic funds to Luxembourg, representing £34.2 billion of assets. It is also closing three UK funds. 115/205
citywire.co.uk/wealth-manager…
Having stated in 2017 that a £150 million investment in tyre production in the UK was derailed by Brexit, Dmack announced in November 2018 that it is opening a factory in Italy instead, to fulfil an ambition to operate its own facility in Europe. 116/205
tyrepress.com/2018/11/dmack-…
France is planning to reconfigure its ports so that traffic destined for Ireland isn't delayed by the additional customs checks that will be required on UK-bound goods after Brexit. 117/205
irishtimes.com/business/trans…
Sumitomo Mitsui Financial Group has obtained approval from the ECB to establish a banking subsidiary in Frankfurt as part of its preparations for a no-deal Brexit. It intends the subsidiary to commence operations in 2019. 118/205
smbc.co.jp/news_e/e600486…
Crispin Odey, a hedge fund manager who donated almost £900,000 to pro-Brexit campaigns, boasted following the referendum that he made £220 million overnight by betting that the markets would collapse in the event of a leave vote. 119/205
theguardian.com/business/2018/…
95 job losses were announced at Wright Group, a Northern Ireland-based bus manufacturer, in June 2018 - with the losses being blamed on Brexit. It's worth noting that the company's founder was a prominent Leave supporter. 120/205
irishnews.com/business/2018/…
Pets at Home stated in November 2018 that it had stockpiled petfood and products worth "a couple of million pounds" in advance of Brexit, and warned that 17% of the goods it supplied came from outside the UK. 121/205
standard.co.uk/news/uk/pets-a…
Portsmouth City Council has claimed its investment in a portfolio of 13 commercial properties around the country, worth over £140 million, was risk-free, despite strong warnings of the potential for market disruption due to Brexit. 122/205
portsmouth.co.uk/our-region/por…
A no deal Brexit would put 25,000 ski resort and other seasonal overseas jobs at risk for British workers. 123/205
theguardian.com/politics/2018/…
Ireland won more than 55 Brexit-related investments in 2018. Overall, over 14,000 net jobs were created through foreign direct investment in Ireland last year, the highest level on record attributed to FDI. 124/205
thejournal.ie/ida-ireland-br…
Made.com is bulking up its Paris operation, and planning separate UK and EU supply chains for after Brexit. 125/205
telegraph.co.uk/technology/201…
RBS is applying for a German banking license to help preserve its EU27 business after Brexit. It has also set aside a £100 million contingency fund against bad loans due to Brexit (ie loans to firms going bust). 126/205
reut.rs/2CwhgHE
The UK Government failed to negotiate a visa waiver with the EU after Brexit, despite being gung-ho about the prospect, and it being part of the Political Declaration. Instead, we'll have to pay 7 Euro and register online in advance of travel. 127/205
theguardian.com/politics/2018/…
DEFRA tried to poach 75 staff from the Environment Agency in a panic over its lack of readiness for no-deal Brexit, according to a secret memo. Of course, that weakens the EA and decreases environmental protections. 128/205
theguardian.com/environment/20…
Bombardier, Cobham and over 200 other UK aerospace manufacturers have already applied to come under the jurisdiction of regulators in other EU countries, via an application process operated by the European Aviation Safety Authority. 129/205
theguardian.com/business/2018/…
The UK Government is hiring 150 lorries in order to simulate the congestion on Kent roads that could be expected after a no deal Brexit, and expects to conduct a range of tests in early January 2019. 130/205
businessinsider.com/uk-government-…
The Department for Education is set to lose up to 1,000 staff (1/6th of its entire workforce) under plans that would see civil servants redeployed to roles in other departments on the front line of a no deal Brexit scenario. 131/205
tes.com/news/exclusive…
Agents and landlords are having to turn potential renters away, because clarification of the Right to Rent checks that may be applicable to EU citizens post-Brexit was not fortcoming in the December 2018 immigration white paper. 132/205
propertyindustryeye.com/agents-turning…
Ford reported a near US$1 billion drop in profits from its European operations in its 2017 annual report, with US$600 million attributed directly to Brexit and the fall in the value of the pound since the referendum. 133/205
thisismoney.co.uk/money/news/art…
Defra is planning to set up a 24/7 emergency call centre for after a no-deal Brexit, to be staffed for three to six months in the first instance. 134/205
theguardian.com/politics/2018/…
Kent Police have been banned from taking any holidays for a month after Brexit Day. 135/205
metro.co.uk/2019/01/03/pol…
3,500 Army troops will be made available to "support any government department on any contingencies they may need" after a no deal Brexit. 136/205
independent.co.uk/news/uk/politi…
Societe Generale is establishing a Paris hub to be able to clear euro-denominated derivatives in the EU. This move comes as a result of client requests. 137/205
uk.reuters.com/article/uk-soc…
Insurer Hiscox spent US$15 million (£11.5 million) in preparations against a no-deal Brexit. 138/205
telegraph.co.uk/business/2018/…
Up to 600 staff may be redeployed from the Department for Internationational Development to other departments to cope with Brexit-related workloads. That's close to 20% of the entire department. 139/205
itv.com/news/2018-12-2…
Farmers have been forced to let thousands of pounds worth of vegetables rot in fields because the seasonal EU workforce they depend on is drying up. One farm outside St Andrews said enough broccoli to feed 15,000 people was wasted. 140/205
independent.co.uk/news/uk/home-n…
The European Union Baroque Orchestra, based in Oxfordshire since 1985, and auditioning around 100 young musicians a year, moved in 2017 to Antwerp in Belgium over Brexit-related immigration concerns. 141/205
theguardian.com/politics/2017/…
The North West Academy of English, based in Derry, was forced to move part of its operations to Letterkenny in Ireland to ensure continuity after Brexit. 142/205
derrynow.com/news/part-derr…
Oxford University Hospitals, which has the highest proportion of EU nurses of any trust outside London, has seen a dramatic exodus of EU staff. In the past year, of 133 departures, 108 were EU nationals. It currently has 450 nursing vacancies. 143/205
oxfordmail.co.uk/news/17003204.…
1,000 police officers from England and Scotland being trained for redeployment to Northern Ireland in the event of a no deal Brexit.
standard.co.uk/news/politics/… 144/205
Aspen Insurance Group is planning to open a new insurance subsidiary in Dublin to service EEA clients after Brexit. It expects the new subsidiary to be operational by Q1, 2019. 145/205
aspeninsurance.co.uk/News-Items/Gro…
Toyota and Nissan, which currently certify their vehicles in the UK, are planning to apply for certifications in EU27 countries to ensure that UK-produced vehicles can still be sold in the EU after Brexit. 146/205
asia.nikkei.com/Business/Busin…
City lawfirm Lewis Silkin opened a new office in Dublin in April 2018, citing Brexit as a factor in the decision to set up in Ireland. 147/205
lex100.com/index.php/news…
The Hut is opening a facility in Wroclaw, Poland, to protect against potential trade hurdles. It is expected to employ 1,000 staff within 2 years, and will eventually handle the bulk of the company's EU orders (currently distributed from England). 148/205
bloomberg.com/news/articles/…
Indos, a curry house that had been turning over more than £400,000 a year, was forced to close because its EU staff left, and it simply couldn't source enough replacements. 149/205
bloomberg.com/news/articles/…
Aston Martin triggered its no deal contingency plans in the first week of January 2019, stating it has hired a new supply chain chief, altered the routes its parts take so as to use ports other than Dover, and authorised air freighting. 150/205
uk.reuters.com/article/uk-bri…
Brexit cut the number of City vacancies by 39% year-on-year as of November 2018, with just 4,005 vacancies available vs 6,600 in 2017. Hakan Enver, managing director at Morgan McKinley: "Brexit has taken a considerable bite out of banking jobs" 151/205
personneltoday.com/hr/brexit-take…
Almac Group invested £30 million in opening a new European campus in Dundalk, Ireland, so that it could continue to conduct clinical trial and drug certifications for EU clients after Brexit. (Its global HQ is in NI). 152/205
almacgroup.com/news/almac-gro…
The CEO of Brompton minced no words as he explained their "shit hits the fan planning" decision to spend £50,000 on hiring a warehouse to stockpile £1m of bike parts against a hard Brexit. 153/205
theguardian.com/business/2019/…
A new report by EY estimates that £800 billion in assets will shift out of London to other EU27 capitals, some 10% of all the money managed in the City. Around 2,000 new European jobs have been created too. 154/205
ey.com/uk/en/newsroom…
Central Pharma (headquartered in Bedfordshire) opened a base in Tralee, creating up to 100 new jobs. The Chief Executive, Alwyn Smit, said "Post Brexit, Ireland offers a stable environment from which to service our European customer base." 155/205
idaireland.com/newsroom/pharm…
Fashion retailer Joules is investing in warehouse space in Europe, and planning to bring items into its Corby warehouse a few weeks earlier than usual, to guard against Brexit disruption. 156/205
leicestermercury.co.uk/news/business/…
Norinchukin, a Japanese bank that is one of the 40 largest banks in the world, announced on 11 January 2019 that it is moving part of its operation to Amsterdam, citing Brexit as the reason. 157/205
nochubank.or.jp/en/news_releas…
In January 2019, it emerged that the Police are officially advising retailers to bring in extra security staff ahead of a no deal Brexit, so as to maintain crowd control if panic buying ensues. 158/205
politico.eu/article/uk-pol…
The Department of Health has spent £1 million on leasing space in refrigerated storage to stockpile medicines against a no deal Brexit. It is spending additional undisclosed amounts on ambient temperature storage facilities. 159/205
theyworkforyou.com/wrans/?id=2018…
Airbus has so far spent €15 million on preparing for no deal, according to evidence that Katherine Bennett (Senior Vice-President, Airbus UK) gave to the BEIS Committee on 28 November 2018. 160/205
data.parliament.uk/writtenevidenc…
The Civil service has called for volunteers to help implement fuel rationing across 75 petrol stations in Northern Ireland in the event of no deal Brexit. 161/205
irishnews.com/news/northerni…
Plans have been drawn up to turn two sites in Anglesea into lorry parks to relieve the pressure on the port of Holyhead in the event of a no deal Brexit. 162/205
bbc.co.uk/news/uk-wales-…
Brexit lorry jam photo op cost £60,000-£65,000, spent on: "cost to reimburse hauliers for operational costs, and reimbursement for site management costs incurred by the owners of Manston airfield". Costs incurred by Police & KCC not included. 163/205
theyworkforyou.com/wrans/?id=2019…
Sales of British malting barley to EU brewers for delivery after Brexit Day are at a standstill, despite high demand, because it's impossible to know what market conditions will be like at the point the delivery contracts have to be fulfilled. 164/205
uk.reuters.com/article/us-bri…
Blue Seafood Company in Devon is taking the drastic step of flying crab all the way to Vietnam for packing, because not enough EU staff are available any more, and they have not been able to recruit enough local workers. 165/205
devonlive.com/news/devon-new…
Discovery Channel is applying for around 50 broadcast licenses in the Netherlands for channels that were previously licensed by the UK's Ofcom regulator. It is retaining 16 Ofcom licenses for channels broadcast in the UK. 166/205
digitaltveurope.com/2019/01/14/dis…
Hermes Investment Management is setting up a new office in Dublin as a post-Brexit base for its European clients, having been granted authorisation in December 2018 by the Central Bank of Ireland. It expects it to be up and running by 29 March. 167/205
portfolio-adviser.com/hermes-swipes-…
Caerphilly County Borough Council is establishing a £1 million contingency fund to deal with the potential impacts of Brexit. 168/205
caerphilly.observer/news/973359/ca…
London's 10 largest investment banks have spent over £1 billion collectively in Brexit preparations, with smaller firms seeing contingency costs in the £tens of millions each. 169/205
fnlondon.com/articles/citys…
As of 15 January 2019, the Government had almost 11,000 civil servants specifically working in Brexit-related roles across all departments. 170/205
theyworkforyou.com/wrans/?id=2019…
The Philips Avent factory in Suffolk is to close with the loss of around 500 jobs. The closure is partially Brexit related. Operations are moving to the Netherlands and to Indonesia. 171/205
eadt.co.uk/business/compa…
Hitachi stopped work on £13 billion nuclear power plant at Wylfa Newydd (£2 billion loss) CEO commented previously: "Hitachi has been investing in the UK's infrastructure and nuclear industries because the UK is part of the EU. So I oppose Brexit." 172/205
bbc.co.uk/news/business-…
P&O will change the flag of its UK-registered ships to Cyprus ahead of Brexit to keep the fleet legally within the EU. (This may complicate no-deal planning.) 173/205
uk.reuters.com/article/uk-bri…
Pets at Home is planning to stockpile up to £8 million worth of pet food and other products, stating "We don't want families to run out of food for their pets." 174/205
bmmagazine.co.uk/news/pets-at-h…
Gate Gourmet, a provider of in-flight meals serving 10 UK airports, is stockpiling chilled meals at a warehouse in Peterborough, and peanuts, toilet rolls and other room-temperature items in London. 175/205
zerohedge.com/news/2019-01-2…
Brittany Ferries forced to alter its timetable to accommodate additional freight capacity as part of no deal Brexit planning, affecting 5,000 bookings and 10,000 passengers over 6 weeks beginning 29 March. Future bookings may also need changing. 176/205
travelweekly.co.uk/articles/32188…
France triggered no deal Brexit plans on 17 January. It is spending €50m on new control check-points & parking areas at French airports & ports, and a border inspection post for horses & other large animals. It is recruiting 580 extra officials. 177/205
gouvernement.fr/en/france-trig…
North P&I, a major marine insurance group headquartered in Newcastle, has set up a subsidiary in Ireland in direct response to the Brexit vote, to ensure it would continue to have access to EU markets. 178/205
chroniclelive.co.uk/business/busin…
Three quarters of warehouses across the UK are full to capacity, largely due to Brexit stockpiling. Some regions have no available capacity at all. 179/205
theguardian.com/politics/2019/…
Investment in the UK auto industry fell by 46.5% in 2018, to just £588.6 million, while UK car production fell by 9.1% to a five year low. 180/205
smmt.co.uk/2019/01/uk-aut…
Sony is merging Sony Europe into a new Amsterdam subsidiary in order to move its legal headquarters from the UK to the Netherlands, so as to be able to continue its business without disruption. No personnel relocations foreseen. 181/205
asia.nikkei.com/Business/Compa…
Insurance firm Sompo International opened a new subsidiary in Luxembourg in September 2018 to maintain a local presence in continental markets after Brexit. 182/205
insurancebusinessmag.com/uk/news/breaki…
Sir James Dyson is moving the HQ of Dyson from UK to Singapore. An outspoken Brexiter, he claimed the move had "nothing to do with Brexit". Nor was it allegedly for tax reasons, even though Singapore has a 17% corporation tax rate to the UK's 19%. 183/205
theguardian.com/technology/201…
Majestic Wine will import an extra £5-£8 million worth of stock to guard against delivery problems post-Brexit. 184/205
reuters.com/article/majest…
Pharmaceutical company Novo Nordisk is increasing its insulin stockpile from 7 to 18 weeks. It has also booked air cargo flights in case additional supplies are needed in a hurry. 185/205
supplychaindive.com/news/Insulin-s…
CME Group Inc is moving its forex forwards and swaps market (trading approx US$15 billion/day) from London to Amsterdam. 186/205
bloomberg.com/news/articles/…
CBoe Global Markets shifting most of its 7 billion euros/day European equities trading from London to Amsterdam after Brexit. 187/205 "Transaction fees that currently generate tax revenue for the U.K. Treasury will in future go to the Dutch authorities."
bloomberg.com/news/articles/…
Bentley is increasing its stockpile of imported parts from two to 10 days, and it's accelerating the production of cars for non-European markets ahead of Brexit. 188/205
uk.reuters.com/article/uk-bri…
American Express is transferring part of its European business from the UK to its Spanish subsidiary (based in Madrid) on 1 March 2019, affecting customers in Austria, Finland, Germany, Netherlands and Sweden. 189/205
americanexpress.com/content/dam/am…
The UK military is spending over £23 million on stockpiling food, spare parts and ammo at military bases in Gibraltar, Cyprus and the Falklands. All in aid of no deal Brexit preparations, because they're so worried about interrupted supply lines. 190/205
news.sky.com/story/uk-begin…
Jaguar Land Rover will double its normal annual closure from one week to two, spanning a period shortly after Brexit Day. The company said: "There will be an additional week of production stand-down... due to potential Brexit disruption" 191/205
bbc.co.uk/news/business-…
Kent County Council has been given £28.8 million of taxpayer money to improve infrastructure around Kent in readiness for Brexit, including work on motorways, signs and signals, and on upgrading Manston Airfield (to be used as a backup lorry park) 192/205
kentonline.co.uk/kent/news/prep…
Eurotunnel has spent several million pounds on their no deal Brexit preparations, and they anticipate their costs rising further. Their efforts included the creation of 100 additional truck parking spaces to allow longer queues. 193/205
railway-news.com/brexit-vote-de…
The BBC is considering setting up a new European base in Brussels, to get around the issue that UK broadcast licenses will no longer be valid for EU27 countries after Brexit. 194/205
theguardian.com/politics/2019/…
Bank of America Merrill Lynch is moving about 200 London jobs to Paris in February 2019, with more to follow after Brexit Day. A hundred staff have already been moved to Dublin. 195/205
standard.co.uk/business/merri…
NBCUniversal International Networks has applied to the Bavarian Media Authority in Germany for six broadcast licenses that would enable it to keep offering its TV channels across the EU after Brexit. 196/205
variety.com/2019/biz/globa…
Crest Nicholson profits -15%: "we have faced some challenges in London and with sales at higher price points where political and economic uncertainty has adversely impacted customer demand and this is likely to continue pending Brexit resolution." 197/205
crestnicholson.com/-/media/invest…
Oddbins filed for administration Jan 2019: "The deterioration of the high street, combined with the continuing economic uncertainty surrounding the withdrawal of the UK from the EU, has resulted in an unsustainable, tough physical retail market." 198/205
cityam.com/272350/oddbins…
Nomura sought legal approval in January 2019 to move US$300 million in capital out of its main UK unit into European subsidiaries as part of its preparations against Brexit. It is also moving some London staff to Paris and Frankfurt. 199/205
ft.com/content/ef1b68…
January 2019 Lords report shows Brexit has had a "material effect" on UK's relationship with the European Investment Bank. EIB lent €7bn to 54 projects in 2016, compared to €1.8bn to 12 projects in 2017 and just €932m to 10 projects last year. 200/205
independent.co.uk/news/uk/politi…
Pressmark Pressings Ltd, a company making auto parts, borrowed £200,000 so that it could double its reserves of steel to 15 days in advance of Brexit. 201/205
nytimes.com/2019/01/31/bus…
Scottish Police are planning to deal with public disorder, and disruption at ports and airports post-Brexit by deploying 400 officers specifically on Brexit-related duties. 202/205
chroniclelive.co.uk/news/uk-news/b…
Unilever is stockpiling several weeks' worth of Ben and Jerry's ice cream and Magnum bars in the UK, and deodorant in the EU, in case of supply chain problems due to Brexit. 203/205
bbc.co.uk/news/business-…
34 contracts worth £95 million altogether were awarded in 2018 to consultancy firms to advise the public sector on Brexit. 9 suppliers, including PwC, Deloitte and McKinsey, received £5-£10 million each. 204/205
ft.com/content/e6fe54…
Finally, on a lighter note, Ladybird have "done" Brexit as part of their Ladybird for Grown-Ups series. The book combines nostalgic classic paintings and hard-nose, biting satire. 205/205
amzn.to/2RbT3e9
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More from @uk_domain_names

Feb 6
Before Brexit...
- EU Trade: super easy.
- Rest of the World Trade: hard.

Since Brexit...
- EU Trade: hard.
- Rest of the World Trade: hard.

The difficulty gap may have "narrowed", but not in a way that benefits businesses at all. Trade is on average harder than before Brexit.
Does it encourage firms to consider trading more outside the EU?

Maybe - but only because they'll have a lousy experience everywhere.

It's like raising the price of apples from £10 to £20, keeping pears at £20. Sells more pears? Maybe. But overall, consumers end up paying more.
A smart country would have tried to figure out how to make hard trade with the rest of the world easier.

A dumb country decided instead to make super easy trade with the EU as hard as trade with the rest of the world.

Welcome to Brexit Britain, where brain cells come to die.
Read 4 tweets
Feb 6
Kirstie Allsopp (bought 1st property age 21) claims young people should fritter less to get on the housing ladder.

HOWEVER...

Average House Price (Nationwide)
- 1992: £50,168
- 2021: £253,113

BOE Inflation Calculator
£50,168 in 1992 = £110,472.43 in 2021

Aha! Penny drops.
Another way of looking at it...

Kirstie Allsopp said her job paid £11,500 a year at the time she bought her first property.

That would be £25,323.57 in 2021 money.

£50,168 is the equivalent of 4.36x her 1992 salary.

But £253,113 is 9.99x her nominal 2021 equivalent salary.
Simply put, a given house is more than twice as unaffordable today (everything else being equal) than in 1992.

Quite amazing that someone who has lived and breathed the property sector for decades seems oblivious to the above differential.

It's hardly rocket science.
Read 5 tweets
Feb 4
The Brexit effect, hurting a business badly.

(Problem is EU students can no longer travel on ID cards because the UK now requires passports, but kids don't need passports because they can go all over the EU on IDs. Catch-22.)
Read 4 tweets
Feb 3
Look at the scam in this Treasury press release.

They've called the £200 loan towards energy bills a rebate. It *isn't* a rebate because consumers must repay it in 5 instalments.

Then in the next paragraph there's a council tax rebate that *is* a rebate.
gov.uk/government/new…
It's also referred to as a discount.

Can you imagine if Tesco or Amazon applied the same logic?

We'll give you £20 off your shopping now, but you'll owe us 5 legally binding payments of £4.

You'd be livid if they tried to claim that represented a discount.

It's a 0% APR loan.
And here's the really devious part: the Tories are buying voter goodwill now using money that will largely need repaying after the next GE.

So if Labour win, they'll be left with the ticking time-bomb of Tory debts, and a legally binding obligation for *consumers* to repay them.
Read 4 tweets
Feb 2
According to the Daily Mail, the Tories have indicated they plan to plunge us all into the dark on the pandemic in April by giving up publishing daily stats.

This on a day that saw more than 500 deaths announced.

Could they gaslight us any harder? Genuinely hard to think how. Image
The whole article is grim. Apparently Boris Johnson plans to bin every single protective measure on March 24, including the requirement to self-isolate if you test positive.

How can the several million extremely vulnerable people ever be safe after that?
dailymail.co.uk/news/article-1…
The excuse given is that it's becoming "like the flu" and we don't shut down the whole country over that.

A) Covid killed more people in 2 years than flu did in the last decade.

B) Flu is very seasonal. We've had a high covid death rate since August, with no sign of slackening.
Read 6 tweets
Feb 2
There's a paradox at the heart of Brexit.

Leaving the EU saves the UK government our membership fee.

It costs individuals and companies much much more than that saved fee. But they're bearing the cost in a distributed way. (Less trade, higher prices, less choice of work etc.)
So the UK government's balance sheet improves by the value of the EU membership fee that's no longer being paid.

But every single one of us and the organisations we work for are effectively being stealth-taxed by Brexit much more than the saving recorded by the UK government.
The UK government can semi-truthfully say "there's more money for us to spend after Brexit" (though the amounts it quotes are wholly fanciful, and don't account for its own extra costs because of Brexit).

And yet as a nation we're still MUCH poorer as a result.
Read 7 tweets

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