Sitting on top of the historic South Wales Coalfield is the Anthony family’s farm. Home to 1,000 sheep and 300 cattle, it has been in their name since 1926. Almost all their produce is sold to European Union countries and while they voted for Brexit remorse has set in as the threat to their livelihood grows.
Years of frustration and a feeling of being abandoned by politicians led the Anthonys to their 'leave' vote in June 2016. With just weeks before the end of the transition period, when Britain loses its trade access to the bloc on December 31, the realities are starting to hit home.
"Our attitude has changed," Mr Anthony told The National. "We have gone from being very optimistic to being cautiously optimistic. We saw Brexit as a once-in-a-lifetime opportunity for change – farming needed change – but over the last four years we haven't been on the road to getting what we were promised. We didn't vote for a cliff-edge Brexit, we wanted a longer transition period so trade deals could be sorted out."
The 27-year-old’s grandfather David voted for the UK to stay in the European Economic Community in an earlier referendum in 1975, but over the years confidence in Brussels to deliver for Welsh farmers diminished and he became a Brexiteer.
“In 1975 my grandfather wanted it to be easier for Welsh farmers to trade with Europe and even though trade opened up, he felt farmers were being micromanaged by the EU and he didn’t like that.”
Tariffs and other regulations affecting agriculture are among the most formidable barriers to trade that the EU mounts against outside countries. The shift from inside to outside the bloc will be felt hardest by a sector that had developed a reputation for quality through decades of investment by families and small-scale corporations. On the farm near Bridgend in south Wales, the Anthonys fear a painful choice looms, such as reducing their lamb business because of lost markets that can’t easily be replaced elsewhere in the world.
Brexit talks have been defined by so-called “crunch weeks,” but negotiations in Brussels this week are important due to their proximity to that impending deadline of December 31. If a deal cannot be reached within days, anything that is eventually agreed cannot be ratified by both the EU and UK parliaments in time for December 31, and trade between the EU and UK will default to World Trade Organisation rules. That would have a significant effect on British businesses.
While they were prepared for change in 2021, due to Covid-19 and Brexit, many business owners are concerned about the lack of assurances been given by the government in relation to plans for January 1.
"One thing we are clear about is that we will not have goods in transit on January 1 due to the uncertainty," David Lockwood, managing director of cheese specialist Neal's Yard Dairy, told The National.
“That is why we are going to send a little extra [to Europe] at the end of December and sit back a little at the beginning of January and see how things play out,” he said.
The dairy was established in central London in 1979 as an urban cheesemaker, and quickly established an export business with Europe being a major customer.
“Export is a big part of our sales. We export a lot of cheddar and stilton and we have a lot of uncertainty about where that business will go after Brexit,” Mr Lockwood said.
“We also import a fair bit of Irish cheese, and Parmesan is our main European import, and we are worried about how much the costs will change due to tariffs. Even if tariffs hit us only one way, it will still affect how we do business.”
The dairy employs 75 people, and despite seeing an uptick in online sales over the past few months, the business has been hit by the coronavirus pandemic.
England entered into its second lockdown last week, dealing a blow to businesses across the country.
Andrew Goodacre, chief executive of the British Independent Retailers Association, believes this, coupled with potential disruption to supply chains due to Brexit, will be enough to shut shops across the country.
“Many retailers don’t think they will survive past December because of this lockdown in November, which usually brings in 25 per cent more sales than any other month. So if you have had your biggest month taken away from you, and Christmas is approaching, you aren’t thinking about Brexit, because it won’t be as detrimental as this lockdown.”
Back in Wales, Mr Anthony agrees that the lack of clear guidance from the government has caused worry among the community.
“You can say ‘Brexit-proof your business’, but this government always changes its mind on what it’s going to do. So if the plan changes, then you could potentially lose the value of that investment in your business. Many farmers can’t afford for that to happen”.
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20S24%20ULTRA
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RESULTS
Catchweight 63.5kg: Shakriyor Juraev (UZB) beat Bahez Khoshnaw (IRQ). Round 3 TKO (body kick)
Lightweight: Nart Abida (JOR) beat Moussa Salih (MAR). Round 1 by rear naked choke
Catchweight 79kg: Laid Zerhouni (ALG) beat Ahmed Saeb (IRQ). Round 1 TKO (punches)
Catchweight 58kg: Omar Al Hussaini (UAE) beat Mohamed Sahabdeen (SLA) Round 1 rear naked choke
Flyweight: Lina Fayyad (JOR) beat Sophia Haddouche (ALG) Round 2 TKO (ground and pound)
Catchweight 80kg: Badreddine Diani (MAR) beat Sofiane Aïssaoui (ALG) Round 2 TKO
Flyweight: Sabriye Sengul (TUR) beat Mona Ftouhi (TUN). Unanimous decision
Middleweight: Kher Khalifa Eshoushan (LIB) beat Essa Basem (JOR). Round 1 rear naked choke
Heavyweight: Mohamed Jumaa (SUD) beat Hassen Rahat (MAR). Round 1 TKO (ground and pound)
Lightweight: Abdullah Mohammad Ali Musalim (UAE beat Omar Emad (EGY). Round 1 triangle choke
Catchweight 62kg: Ali Taleb (IRQ) beat Mohamed El Mesbahi (MAR). Round 2 KO
Catchweight 88kg: Mohamad Osseili (LEB) beat Samir Zaidi (COM). Unanimous decision
%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fislamic-economy-consumer-spending-to-increase-45-to-3-2tn-by-2024-1.936583%22%20target%3D%22_self%22%3EGlobal%20Islamic%20economy%20to%20grow%203.1%25%20to%20touch%20%242.4%20trillion%20by%202024%3C%2Fa%3E%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fuk-economy-plunges-into-worst-ever-recession-after-record-20-4-contraction-1.1062560%22%20target%3D%22_self%22%3EUK%20economy%20plunges%20into%20worst-ever%20recession%20after%20record%2020.4%25%20contraction%3C%2Fa%3E%3C%2Fp%3E%0A%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Fbusiness%2Feconomy%2Fislamic-economy-consumer-spending-to-increase-45-to-3-2tn-by-2024-1.936583%22%20target%3D%22_self%22%3EIslamic%20economy%20consumer%20spending%20to%20increase%2045%25%20to%20%243.2tn%20by%202024%3C%2Fa%3E%3C%2Fp%3E%0A
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
The specs
Engine: 2.0-litre 4-cyl
Power: 153hp at 6,000rpm
Torque: 200Nm at 4,000rpm
Transmission: 6-speed auto
Price: Dh99,000
On sale: now
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Killing of Qassem Suleimani
FIXTURES
UAE’s remaining fixtures in World Cup qualification R2
Oct 8: Malaysia (h)
Oct 13: Indonesia (a)
Nov 12: Thailand (h)
Nov 17: Vietnam (h)
Results
6.30pm: Maiden Dh165,000 (Dirt) 1,600m
Winner: Celtic Prince, David Liska (jockey), Rashed Bouresly (trainer).
7.05pm: Conditions Dh240,000 (D) 1,600m
Winner: Commanding, Richard Mullen, Satish Seemar.
7.40pm: Handicap Dh190,000 (D) 2,000m
Winner: Grand Argentier, Pat Dobbs, Doug Watson.
8.15pm: Handicap Dh170,000 (D) 2,200m
Winner: Arch Gold, Sam Hitchcott, Doug Watson.
8.50pm: The Entisar Listed Dh265,000 (D) 2,000m
Winner: Military Law, Antonio Fresu, Musabah Al Muhairi.
9.25pm: The Garhoud Sprint Listed Dh265,000 (D) 1,200m
Winner: Ibn Malik, Dane O’Neill, Musabah Al Muhairi.
10pm: Handicap Dh185,000 (D) 1,400m
Winner: Midnight Sands, Pat Dobbs, Doug Watson.
How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
COMPANY%20PROFILE
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The Gentlemen
Director: Guy Ritchie
Stars: Colin Farrell, Hugh Grant
Three out of five stars
Profile of Foodics
Founders: Ahmad AlZaini and Mosab AlOthmani
Based: Riyadh
Sector: Software
Employees: 150
Amount raised: $8m through seed and Series A - Series B raise ongoing
Funders: Raed Advanced Investment Co, Al-Riyadh Al Walid Investment Co, 500 Falcons, SWM Investment, AlShoaibah SPV, Faith Capital, Technology Investments Co, Savour Holding, Future Resources, Derayah Custody Co.
