Policy and data updates

  • Plans for a Soft Brexit in favour of financial services has run into opposition in Brussels according to government officials

  • Irish and British governments seek talks on restoring Northern Ireland’s power-sharing government, with neither considering a return to direct control from London according to Ireland’s foreign minister. Talks to end a political stalemate broke down again this week, as Britain still believes a deal can be made to restore the power-share

  • According to a Bank of England survey, as a higher minimum wage is set to come into action, British workers are in line for their biggest pay rises since 2008

  • The Bank of England is likely to raise interest rates earlier than planned, and at a quicker pace than thought three months ago, meaning in May borrowing costs are likely to increase

  • In the first three months of 2018, it is likely Britain’s economy grew by 0.5%, unchanged from its pace of growth at the end of 2017, according to the National Institute of Economic and Social Research (NIESR)