Government hits back at claims Brexit is stifling exports to EU
February 8, 2021, 12:31 pm

Government hits back at claims Brexit is stifling exports to EU

Hauliers say many lorries are travelling back empty from the UK to the EU.

Whitehall rejects reports of 68% drop in goods exported and says freight flows at normal levels on some days

The government has sought to defend its record over Brexit after freight industry leaders claimed exports to the EU had nosedived since the transition period ended on 31 December.

When Boris Johnson announced on Christmas Eve that he had secured a last-minute Brexit deal he insisted there would be “no non-tariff barriers” to trade with the EU.

Exporters, however, are pointing to burdensome extra form-filling and inspections, and a shortage of customs agents to smooth the process – with 10,000 in place against the 50,000 that the haulage industry said was needed.

The Observer revealed at the weekend that the Road Haulage Association (RHA) had written to the Cabinet Office minister, Michael Gove, last week suggesting there had been a drop of as much as 68% in the volume of goods exports passing through UK ports and calling for an “urgent intervention”.

Whitehall sources vehemently rejected that claim, insisting freight flows were up to 95% or even 100% of normal levels on some days in January – though part of the RHA’s argument was that in many cases lorries were travelling back empty from the UK to the EU.

“We don’t recognise these figures at all,” said a Cabinet Office spokesperson, adding: “We know there are some specific issues and we are working with businesses to resolve them.”

A government spokesperson said: “Thanks to the hard work put in by hauliers and traders to get ready for the end of the Brexit transition period, there are no queues at the Short Straits, disruption at the border has so far been minimal and freight movements are now close to normal levels, despite the Covid-19 pandemic.

“As a responsible government, we made extensive preparations for a wide range of scenarios at the border, including the reasonable worst case. However, it appears increasingly unlikely that our reasonable worst case scenario will occur.”

However, the RHA’s figure was corroborated by Richard Ballantyne, the chief executive of the British Ports Association, who said it was “broadly in line” with his experience since new year.

While the worst disruption has been experienced in Northern Ireland, where shoppers have at times been confronted by empty supermarket shelves, UK exporters from fishing firms to plant nurseries have warned of significant problems.

Shellfish exporters have been taken aback by a ban on the export of unprocessed bivalve molluscs such as oysters and scallops.

The government had hoped the ban could be lifted in April, but the European commission suggested last week that the rule, which applies to imports to the EU from third countries, would be permanent.

Chris Vinnicombe, who fishes for oysters on the Fal estuary in Cornwall, told BBC Politics South West: “Boris ’s wonderful deal for the fishing industry – which obviously it is not – this deal should have actually incorporated the likes of live bivalve molluscs. This is going to end up as a complete write-off. It’s going to finish the whole fishery here. The Fal oyster fishery is one small part of it. This is a country-wide problem.

Some Brexiters including the Conservative MP John Redwood have argued that the government should support the shellfish industry to sell more of its product to UK consumers.

Meanwhile, the Scottish National party is calling on the government to demand a “grace period” for Scotland, as it has for Northern Ireland, to allow Scottish exporters, including the fishing sector, more time to get used to the new post-Brexit regime.

Gove last week conceded there were “serious problems” with the operation of the new Irish Sea border, and called on the EU to delay until 2023 the application of EU customs and product standards.

The SNP’s Westminster leader, Ian Blackford, said: “Ultimately, the only way to protect Scotland’s economy is to become an independent country and regain the full trading benefits of EU membership. In the meantime, it is crucial that the UK government delivers the immediate support and financial compensation that Scotland requires – including an emergency grace period to mitigate the damage of Brexit.

“The Tory government has already sought a grace period for Northern Ireland until 2023 but yet again Scotland’s interests have been sidelined. Any deal for Northern Ireland is welcome – but Scotland must get the same instead of being left out in the cold again.

Gove will be questioned by MPs on the EU scrutiny committee on Monday, along with senior officials from the Cabinet Office transition taskforce.

source: Heather Stewart

Levant

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.