Dear Editors,
Just to alert you that there are two new packages on the FSN packages feed, scripts are below.
Regards,
Catherine
Britain's collectible sector braced for Brexit hit
Britain's collectibles sector is braced for a hit after the UK's vote to leave the European Union.
Wines, classic cars, stamps and other expensive collectibles experienced a post-Brexit sales boost but now there is concern the weak pound will force dealers to pass on the higher costs of restocking to domestic consumers.
Indeed some dealers have also started avoiding certain collectibles if they have to pay for them in euros or dollars.
From London, Catherine Drew has this report.
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Stamp dealer Stanley Gibbons has seen a 20 per cent year on year rise in sales volume in the 3 months following the brexit vote, with an upsurge in clients from the US and Asia, taking advantage of the weakness in sterling.
Stamp collecting was banned in China under Chairman Mao and this British dealer says they've seen a large increase in Chinese collectors looking to reclaim the country's heritage. While stocks of stamps and coins are good for the moment, collecting worldwide means dealing with the new reality of a weaker pound. Finance director Keith Heddle is finance director for Stanley gibbons
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"We haven't been such a huge demand that we are suffering stock shortages, however Chinese clients definitely looking after and looking for C hinese stamps and that is where this is definitely a squeeze on demand."
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But while Stanley Gibbons is continuing to enjoy brisk sales, that is not enabled the dealer to raise prices, indeed for British customers paying in pounds, they might even get a discount.
Keith Heddle again.
INSERT:
"One of thing we're doing for UK customers is selectively offering them a little bit of a discount where we can to try to level the playing field if you like. It obviously depends on margins of the items that are concerned but we are seeing people as we move toward the big 2020 stamp show, starting to build up their collections. "
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Across London classic car dealer Paul Michaels is weighing this year's second surprise vote after Brexit, Donald Trump's victory in the US Presidential race and what that might mean for international collectors.
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"You'll need 6, 8, 12 weeks of Trump to see what he's going to get up to. My own guess is that he'll turn out to be the King of all U turns."
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Paul Michaels has experienced years of booms and busts since he started dealing in classic cars in 1963 and saw the business experienced a post-Brexit boost, however concerns now turn to restocking.
INSERT:
it is having an effect on buying left hand cars, they cost 15 per cent more.. that's more than our margin, so for now we're not buying anything from abroad, but there's enough stock in the UK at the moment to keep us going **
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Cars, stamps and other luxury items offer a niche market to many investors who know and appreciate these collectibles and in uncertain times many dealers like Paul Michaels say they are a safe place to put your money.
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" I say to people, you put the car away at night and it's the same in the morning, not the same as the stock market"
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Catherine Drew, sign off, London
Tuesday, November 15, 2016
British farmers raise concerns over Brexit
The industry is hugely reliant on billions in subsidies from the EU which could be lost when the UK leaves...
But there are also concerns over how Britain's farmers will stay competitive outside of the current EU trade agreements...
Our UK correspondent Dan Whitehead reports from the English county of Surrey...
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VO: The Broom family has been farming in the south of England for more than 100 years...
They're no stranger to the ups and downs of this industry - but uncertainty is at a high among British farmers over how they will fare once the UK leaves the EU...
SOT: Hugh Broom, farmer: "The major concern is that our biggest customers are our European partners in terms of 75 per cent of exports go to Europe. So any farming business in the UK wants to ensure we still have access to those markets on a fair and equal level in terms of tariffs and trading terms."
VO: Farmer Hugh Broom says subsidies are also a big issue for farmers.
Last year nearly three billion dollars was handed out to British farmers from the EU's Common Agricultural Policy - making up more than half of their income.
But it's not known how that money will be replaced.
The UK government has promised to guarantee EU subsidies - but only until 2020.
It a statement, the Department for Environment, Food and Rural Affairs said:
"The guarantee of funding up to 2020 is excellent news for our farmers, our environment and rural communities, providing crucial certainty and continuity while we develop a new approach to supporting agriculture and protecting our precious countryside.
"We look forward to working with the industry and the wider public to shape our plans for food, farming and the environment outside the EU."
VO: Any trade deals which the UK strikes post-Brexit could open up new lucrative markets for British farmers...
But they could also bring cheaper imports - something which farmers warn could have a hugely damaging impact...
My-rig Raymond is the President of the National Farmers Union...
SOT: Meurig Raymond, President, National Farmers Union: "If our UK negotiatiors allow free trade into the UK, then I would say strongly that any imported food coming into the UK must be produced to similar standard to what we are expected to produce in the UK."
VO: The unknowns are forcing many farmers to diversify their business...
Hugh rents out a field for events such as weddings - but warns for more rural farmers, it isn't as easy...
SOT: Hugh Broom, farmer: "Here in leafy Surrey we're few and far between, but you go to mid-Wales, you go to the middle of Somerset, you go to the middle of East Anglia where farming is the number one employer and is driving the local economy, it's going to have a huge impact - huge impact."
The problem for the British farmer, is they simply don't know what their post-Brexit future will look like.
Without knowing what level of subsidies, if any, will remain, or whether or not their produce will face cheaper competition from around the world, the picture remains an uncertain one for British farmers.
Dan Whitehead, SOC.