May 19, 2020
City Bulletin: UK outlines post-Brexit tariff plans
As if there wasn't enough going on, the UK government has on Tuesday published its post-Brexit tariff plans. The new tariff regime will replace the EU's common external tariff on January 1 next year, when the transition period is set to come to an end. The government says it will keep tariffs on agricultural products such as lamb, beef and poultry, and a 10 per cent tariff on cars. The catering group plans to raise £2bn through a placing, subscription by management and offer to retail shareholders to boost liquidity. Ovo, one of the UK's largest energy companies, plans to cut more than a quarter of its workforce.
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