Friday Brief 07/07/2023

Good afternoon and welcome to this week’s Friday Brief! If you’re about to set off on your Summer Holidays, make sure you have a good read of the news articles we have for you today before you go!

To start things off today we have news on an Exhibition that you may be excited about! CCMT will take place from the 8 – 12 April 2024 at the Shanghai New International Exhibition Centre (Pudong, Shanghai). CCMT is the sister show of CIMT which has a strong influence in the machine tool industry, especially in East China where the machine tool market is very active. Find out more details on the story below.

Terms of the Windsor Framework allow traders to reclaim EU duty paid on goods that can be shown not to have entered the EU. This Duty Re-Imbursement Scheme went live at the end of last week and can be applied to goods moved since 2021. The Customs Duty Waiver Scheme will be expanded from January 2024, meaning the maximum value of duties able to be waived over the course of three tax years for ‘at risk’ goods moved into Northern Ireland will rise to €275,000 (around £235,000) from the current level of €200,000 (around £170,000). Get all the details through the links in the story.

Jack Semple has a few stories for us today based around Skills. The Department for Education has missed its deadline for responding to a Commons education committee report, an important aspect of which was criticism of T Level policy. The DfE’s reply was due by the end of last week. The Institute for Apprenticeships and Technical Education (IfATE) has published the results of its “Big Conservation”, carried out in autumn 2022, and a report, “A Simpler Skills System”. Education secretary Gillian Keegan is keen to promote degree apprenticeships, which are gaining popularity as an alternative to degrees in engineering and other disciplines. Check out more on the three topics in the story below.

Citation ISO Certification help businesses of all sizes and sectors achieve internationally recognised Standards that help them stand out from the crowd. Whether your members want to improve their efficiency and effectiveness, manage their environmental impact, enhance Health Safety, or protect their information security,

As you may already be aware, one of the services that we offer “Full” Members is free access to BSI standards through the British Standards Online (BSOL) system. We are working with BSI to provide some complimentary training on the 2^nd of August 2023 from 11:30 to 12 pm to ensure that you are able to obtain the maximum value from this system. Check out the details below.

The key economic headline this week was the Purchasing Managers Index (PMI) figures for the manufacturing sector in June and, as usual, they have their own article. The Global reading for the sector slipped further into negative territory, as did both UK and Euro-zone measures. Output and orders are generally negative, with employment in the sector also falling in many places. Take a look at our article for more details.

The other economic news this week is the data on investment and profitability in the Euro-zone – the Eurostat press release on this topic does not cover the rest of the EU. This showed a small improvement in the former but a sharp reduction in profitability.

Finally this week, it is survey time again with the MTA Business Survey for June having been launched at the start of the week; this is one of the slightly longer surveys but we hope that you will still take a few minutes to participate – you can find the form at https://www.mta.org.uk/mta-business-survey-jun23. For EIA members, your latest quarterly survey is also live with the survey form at https://www.mta.org.uk/eia-quarterly-survey-2nd-quarter-2023.

Thank you for keeping up to date this week! We hope you all have a great weekend and we’ll ‘see’ you again next Friday!

ECONOMIC NEWS

Euro-zone Investment & Profitability, 1st Quarter 2023: Data from Eurostat shows a small improvement in the investment rate (defined as gross fixed capital formation divided by gross value added) compared to the previous quarter to stand at 24.1% (23.9% in Q4-22); it is also above the level of a year earlier when it stood at […]

PURCHASING MANAGERS INDEX FOR MANUFACTURING

The Global Purchasing Managers’ Index (PMI) for manufacturing produced by J P Morgan using the data from S&P Global slipped further into negative territory in June to 48.8 following three months at 49.6. This came about because output declined (having been positive for 4 months) following another decrease in new orders – the 12th month […]

MTA/BSOL Standards platform – Training via Webinar 02/08/2023

As you may already be aware, one of the services that we offer “Full” Members is free access to BSI standards through the British Standards Online (BSOL) system. We are working with BSI to provide some complimentary training on the 2nd of August 2023 from 11:30 to 12 pm to ensure that you are able […]

Meet Citation ISO Certification

Skills Briefs

DfE misses T Level deadline The Department for Education has missed its deadline for responding to a Commons education committee report, an important aspect of which was criticism of T Level policy. The DfE’s reply was due by the end of last week. In its report on post-16 qualifications, the committee said that while T […]

Duty Re-imbursement Scheme for Northern Ireland goods

CCMT2024

CCMT – China CNC Machine Tool Fair 2024 8 – 12 April 2024 CCMT will take place from the 8 – 12 April 2024 at the Shanghai New International Exhibition Centre (Pudong, Shanghai). CCMT is the sister show of CIMT which has a strong influence in the machine tool industry, especially in East China where […]

Friday Brief