As the nation prepares for the closest general election in living memory, it’s an opportune moment to take a look at what can be done to support growth in the sector.
In light of the continuing debate over the Labour Party’s plans to scrap the non-domicile rule, I feel it’s essential that The Baltic Exchange highlights the importance and value to the UK economy of the many foreign shipowners who reside in the UK and pay tax in the UK but also enjoy the benefits of non-domiciled status to ensure their global businesses are not brought into the UK tax net.
You wouldn’t think a saying from a fictional pirate would have much relevance in the real world, but sadly the quote attributed to Captain Jack Sparrow: “The problem is not the problem. The problem is your attitude about the problem,” sums up one of the biggest challenges facing today’s supply chain: an inflexible mindset.
According to the Property Data Report 2013* there is £80 billion worth of warehousing in the UK. But, at any one time, how much of it is lying dormant, unutilised?
In the past, removing wrecks from an area of coastline was conducted from a pragmatic perspective. Local authorities would make an assessment of the likely dangers to navigation and the impact on the natural environment and then decide if the wreck should be left in situ or taken away for disposal. Today’s different approach requires almost all wrecks to be removed and the natural environment restored to its original condition.