CROSS CHANNEL INSTITUTE
The first shipment, as part of the partnership between Brittany Ferries and CMA CGM, takes place
Image : CMA CGM (Photo Sébastien Taldu)
In September 2021, CMA CGM and Brittanny Ferries announced a €25 million partnership. This is life-saving news for Brittanny Ferries, who have been in great difficulty due to COVID, and a real business opportunity for CMA CGM, who are expanding their distribution network in the UK.
The first shipment of CMA CGM cargo to England took place on 12th January 2022, symbolizing a real cooperation between two French shipping [...]
UK publishes new “climate and environmental ambitions” for the subsidy system replacing the CAP
The Common Agricultural Policy (CAP) is Europe’s largest single form of expenditure, with a budget of 336 million for the period 2021-2027.
However, leaving Europe also means no longer receiving financial aid, which marks the end of the CAP for the United Kingdom. This is causing concern among British parliamentarians and farmers, who are facing the biggest upheaval in their sector in fifty years…
On January 6, the Department for Environment, Food and Rural Affairs [...]
British Lords are not convinced by Bank of England’s efforts to digitalise the Pound
A panel of Lords from the UK government have criticised the Bank of England’s new project to launch a UK central bank digital currency, stating that they saw no convincing case for the digitalisation of the Pound.
BOE officials led by Deputy Governor Jon Cunliffe have become vocal about the need for CBDC. They state that the sharp decrease in the use of cash is leaving money increasingly controlled by private companies that don’t have the explicit government guarantee carried [...]
Rising inflation continues
According to OECD (Organisation for Economic Co-operation and Development), inflation in its member countries rose by 5.8% year-on-year in November 2021, a 0.6% increase from October 2021. This is 4.6% increase from the figures of November 2020 and has marked the highest level of inflation since May 1996.
The United States seems to be the worst hit country, with inflation hitting 6.8% in November 2021, climbing from 6.2% in October 2021. In Europe, inflation increased to 4.9% in [...]
Full customs controls from 1st January 2022 : Changes to the UK-EU Trade and Cooperation Agreement
As part of the UK-EU Trade and Cooperation Agreement, the next round of regulations have come into effect, as of 1st January 2022, concerning goods moving between the rest of the EU and Great Britain, and goods exported from Great Britain to Ireland.
The changes include :A requirement for full customs import declarations for all goods at the time that businesses or their courier/freight forwarder bring them into Great Britain, except if they are non-controlled goods imported from [...]
BCC reports a rise in fear of cyber attacks in the hybrid working world
According to BCC, British firms are becoming increasingly worried about cyberattacks due to the increase of remote working during the pandemic.
Drawn from a survey of almost 1,000 UK firms, of various sectors and sizes, British Chambers of Commerce has concluded that over halfof these firms believe that their systems are more exposed to attack due to a surge in people working from home due to the pandemic.
In association with IT company, Cisco, BCC’s research also revealed [...]
New VAT rules
Article 30 of the Finance Act 2022 amends the existing VAT rules on the following subjects :Replacement of the exchange of goods declaration (EOG) by 2 separate declarations on 1st January 2022, Generalisation of the reverse charge of VAT on imports, Application of the reduced rate of 5.5% to products intended for human consumption, Exigibility of VAT on payments on account for supplies of goods from 1st January 2023.
Read a full documentation here [...]