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Brexit, Brits and blending: what MIPIM told us about the state of corporate real estate

Brexit, Brits and blending: what MIPIM told us about the state of corporate real estate

Man watching fireworks display in MIPIM, CannesMIPIM celebrated its 30th anniversary during uncertain political and economic times, yet the mood was positive and even the backdrop of an impending Brexit decision failed to derail the UK contingent. However, the one thing missing from MIPIM in 2019 was British politicians. They were all back home, participating in decisive votes in the House of Commons as Parliament continued to kick the Brexit can down the road.

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Government needs to sort Brexit deadlock as construction sector falls

Government needs to sort Brexit deadlock as construction sector falls

constructionThe Government and Parliament must break the Brexit deadlock and find a way forward warns the Federation of Master Builders (FMB), in response to the latest Construction PMI data, which shows another drop in construction output. The March 2019 PMI data revealed an Index score of 49.7, up slightly from 49.5 in February, against the no change threshold of 50.0. This points to a sustained decline in construction output, representing the first back-to-back fall in construction output since 2016. While the residential building sector enjoyed an upturn, commercial construction was the worst performing area.

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Majority of UK business leaders believe costs and red tape will rise after Brexit

Majority of UK business leaders believe costs and red tape will rise after Brexit

Over half (58 percent) of UK business leaders expect costs to rise after Brexit, even if a deal is struck and just over a third (38 percent) believe that access to local business funding and grants will also become more challenging post-Brexit, claims a new survey from Vistage. Respondents were also sceptical about the so-called ‘bonfire of red-tape’ which was a key part of the Leave campaign’s manifesto. Thirty-eight per cent believe bureaucracy will become more of a hurdle post-Brexit, versus just 17 percent who believe a deal with the EU will lead to fewer regulations and less red-tape.

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UK workforce increasingly concerned with impact of Brexit on employment

UK workforce increasingly concerned with impact of Brexit on employment

More than a third (34.25 percent) of UK residents believe that Brexit would affect their current employment in a negative way, and only a negligible 3 percent of respondents think that Brexit will positively affect their current employment. Compared to the survey from Personal Group in 2018, there are some gender, age and professional nuances. Twelve times as many men than women have become more concerned about the impact on Brexit on their current employment. In February 2019 the number of men who believe Brexit will affect their employment negatively increased by almost 8 percent (7.89 percent) compared to a less than 1 percent (0.63 percent) rise amongst women.

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Workers are pessimistic about employment prospects in post Brexit era

Workers are pessimistic about employment prospects in post Brexit era

A new report from Personal Group claims that British workers increasingly concerned with Brexit’s potential impact on their employment. The data suggests that with just one month to go, more than a third (34.25 percent) of UK residents believe that Brexit would affect their current employment in a negative way, an increase of nearly 4 percent (+3.82 percent) when compared to survey results from 2018. Only a negligible 3 percent of respondents think that Brexit will positively affect their current employment.

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More than half of UK ethnic minority citizens believe Brexit will stifle their career

More than half of UK ethnic minority citizens believe Brexit will stifle their career

More than half of UK ethnic minority citizens believe Brexit will stifle their careers

Over half (52 percent) of Black, Asian, and Minority Ethnics (BAME) believe that Brexit will negatively impact their career progression compared to only 16 percent of non-BAME. This is according to a new survey commissioned by the Equality Group, an organisation that helps companies attract, retain and develop diverse talent that focuses on diversity and equality within business. Following the referendum in 2016 and the UK’s consequent departure from the European Union, tensions surrounding ‘Britishness’ and what it means to be British reached unprecedented lengths. In May this year, experts from the United Nations expressed concerns regarding the fact that racism and religious intolerance has, in the wake of Brexit, become increasingly acceptable in Britain. Whilst it is possible to statistically monitor the rise in racially motivated hate crimes, of which there was a 40 percent rise (July 2015- 16) succeeding the UK’s decision to leave the EU, monitoring racial discrimination within businesses is a lot more difficult. With this societal and political shift, the report looks at the impact Brexit, with its focus on immigration and the rights to work within the UK, has had on the workers from the BAME community.

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Post Brexit high skill workforce migration plans to be unveiled today

Post Brexit high skill workforce migration plans to be unveiled today

Britain’s interior minister Sajid Javid is set to publish plans today for a post Brexit immigration system that would bring net migration to the UK down to “sustainable levels” in a phased approach starting in 2021. The UK Government will announce details of the new system to mark the end of free movement from other European Union countries in an immigration white paper. The plans will include a new visa route for skilled workers and no cap for high-skilled professions.

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Rise in number of UK workers looking to leave their job, despite Brexit concerns

Rise in number of UK workers looking to leave their job, despite Brexit concerns

Rise in number of UK workers looking to leave their Job, despite Brexit concernsThe ongoing uncertainty around Brexit has had little impact on both workers’ desire for job stability, and businesses’ assessments of their economic prospects according to Gartner’s latest Global Talent Monitor report. In fact, the UK reported the highest business confidence rating of all European countries surveyed at 60, and above the global average of 57. For employers this has the knock effect that the number of UK employees looking to stay in their current job has fallen sharply over the past 12 months, as 23 percent of employees indicated a low intent to stay with their current employer, a 13per cent increase from the same period last year and 10 percent higher than the current global average (13 percent). While fewer UK workers are committed to staying with their current employers, the number of workers who reported a higher willingness to go above and beyond at work remained flat.

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Investment in London commercial offices unlikely to be changed by Brexit

Investment in London commercial offices unlikely to be changed by Brexit

London’s commercial office appeal unlikely to change because of BrexitInvestment in City of London offices is up by 7.6 percent for the same period last year reaching £9.47 billion as of the end of October 2018 – while the West End market is on track to reach at least £7.4 billion before the year is out. This is up on the £7 billion turnover seen in 2017, according to Savills. Stephen Down, executive director and head of Savills Central London investment team, says: “Demand for central London offices has remained buoyant throughout 2018. While we may not see the year set any new records, annual volumes look set to either surpass or draw very close to those of 2017. More →

Office take-up in Central London looks set to grow despite Brexit looming

Office take-up in Central London looks set to grow despite Brexit looming

Continuing demand for office space within the Central London commercial property market has helped dispel pessimism about the future of London post-Brexit, according to the latest figures from Savills. Take-up of office space in the City of London reached 5.1 million sq ft at the end of the third quarter of 2018, just 1 percent down on the same point in 2017 and 18 percent up on the 10-year average, while the amount of office space under offer in London’s West End market was 1.9 million sq ft as of the end of September, a new record, which challenges the view that the market is in danger of decline. More →

Brexit has already caused banks to move head counts away from UK

Brexit has already caused banks to move head counts away from UK

Brexit has already caused banks to move head counts out of UKA new report published by Information Services Group (ISG) claims that UK banks are already moving headcount out of the UK and building new centres of excellence in other EU countries. The reason it suggests is because Brexit is likely to disrupt the UK and Europe applications development and maintenance (ADM) services markets in the coming months, with the impact felt most notably in the banking, financial services and insurance (BFSI), healthcare and life sciences (HCLS) and manufacturing sectors. However, a September report from Reuters found that so far just 630 jobs in the finance sector have been relocated from the UK.  More →

Unskilled and low skilled men most at risk from Brexit

Unskilled and low skilled men most at risk from Brexit

Men with GCSE qualifications or below employed in certain manual occupations are more likely than other groups to work in industries at particular risk from new barriers to trade with the EU after Brexit. Historically, those in this group have struggled to find equally well-paid work elsewhere when job losses have occurred. That is one of the key conclusions from detailed new analysis of trade data carried out by researchers at IFS and funded by the ESRC’s UK in a Changing Europe initiative.

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