Getting Down to Details…..

Brexit migrant 'spike' warning from MPs.

There could be a spike in UK migration ahead of Britain's withdrawal from the European Union and the possible end to free movement rights, MPs have warned. The Home Affairs Committee urged the government to state an "effective cut-off date" for when EU citizens in the UK would be granted the right to stay. It added there could be fresh delays and backlogs in the immigration system if more people tried to enter the UK. Ministers said it would be "wrong" to set out details before exit talks. The government has confirmed it will seek curbs on free movement rules that currently give EU nationals the right to live and work in other member states.

GSK: UK still 'attractive' post Brexit as it invests £275m.

GlaxoSmithKline is to invest £275m to expand its UK manufacturing sites, saying the country remains "an attractive location" despite Brexit. The pharmaceutical firm, whose chief executive Sir Andrew Witty backed the Remain campaign, said the UK's skilled workforce and competitive tax system helped drive the decision. It said most of the products made at the expanded sites would be exported. The firm said it expected its investment to create jobs. The company has invested £750m in new facilities over the past six years. This latest decision takes the total up to £1bn. The investment will be spread across three of its UK manufacturing sites: Barnard Castle in County Durham, Montrose in Angus, and Ware in Hertfordshire. GlaxoSmithKline currently employs 16,000 people in the UK, 6,000 of which are employed in manufacturing. "It is testament to our skilled UK workforce and the country's leading position in life sciences that we are making these investments in advanced manufacturing here," said Sir Andrew.

Scottish Labour publish Brexit economy 'action plan'.

Scottish Labour has published a Brexit action plan urging the Scottish and UK governments to act to avoid recession. The party said the country's recent economic performance made "grim reading" even before factoring in the UK's vote to leave the EU. They have called for measures including a Brexit Support Fund for at-risk industries and income tax increases. The Scottish government set up an expert group in the aftermath of the Brexit vote to advise on the future. First Minister Nicola Sturgeon has pledged to examine all options available to her to protect Scotland's interests in the wake of the referendum result. Labour have set out a series of proposals for Westminster and Holyrood policies in the wake of the Brexit vote, aimed at boosting the economy and tackling uncertainty.

Brexit impact on house prices is uncertain, Nationwide says.

The Brexit effect on the housing market may take months to become clear, the Nationwide said as it reported a slight rise in UK house prices in July. The UK's biggest building society said that uncertainty after the UK's vote to leave the EU could reduce demand among buyers. Even so, the resulting impact on house prices was "not certain". Property prices rose by 0.5% in July compared with June, and were up 5.2% on a year earlier. That meant the average UK home was valued at £205,715, the Nationwide said.

Brexit risks for booming car manufacturing, says SMMT.

UK car production jumped more than 10% year-on-year in June, says the Society of Motor Manufacturers and Traders (SMMT). But the industry body warns future growth may be hit if the government does not maintain unrestricted access to markets in the European Union (EU). The UK made 158,641 cars last month, 10.4% more than in June 2015. The SMMT says the growth was driven by decisions to invest on the basis of demand from its biggest market, the EU. "These decisions were based on many factors but, primarily, on tariff-free access to the single market, economic stability and record levels of productivity from a highly skilled workforce," said Mike Hawes, SMMT chief executive. There are signs from elsewhere that the auto sector in the UK is already being affected by the UK's vote to leave the EU. Car dealer Inchcape has warned that the Brexit vote is expected to slow growth in UK new car registrations in the coming months. "Ahead of the EU referendum, the second quarter new vehicle market growth rate moderated to 1% from 5.1% in the first quarter," it said. "We expect this moderation of the new vehicle market to persist into the second half of 2016."

Theresa May 'wants and expects' to protect rights of Poles in UK.

Theresa May has said she "wants and expects" to be able to protect the rights of Polish citizens in the UK, if British expats' rights are protected. In Poland on the latest visit of her post-referendum tour of EU leaders, the UK prime minister said she valued Poles' contribution to the UK. There are more than 850,000 Poles in the UK, official figures say - the largest group of EU nationals by far. Mrs May met PM Beata Szydlo in Warsaw after meeting Slovakian PM Robert Fico. She started by paying tribute to Polish pilots who fought alongside the British in World War Two and said the partnership between the two countries would "endure long after the United Kingdom has left the European Union". Of the hundreds of thousands of Polish citizens living and working in the UK, she said: "I want and expect to be able to guarantee their rights in the UK. The only circumstances in which that would not be possible would be if the rights of British citizens living across the EU were not guaranteed."

[I understand that the Government are now talking to the financial sector – presumably about the impact that the Brexit vote has had on the economy so far and what they expect the impact will be once we go Article 50. I’m guessing that those meeting will be rather sobering. Tourism is, however, up because of the collapse of the pound. Yeah, good news…. LOL. Like having a weak currency and an economy that’s flat lined is ‘good’ news.]

All details above from BBC News website.