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Brexit

Brexit, short for “Britain’s Exit from the European Union”, is the prospective withdrawal of the United Kingdom from the European Union. Get the latest Brexit news and updates.

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Global leasing market up 9.4%

New innovative ways to finance equipment has seen the global leasing market grow by 9.4%, according to an annual report conducted by White Clarke Group.

What is the Global Leasing Report?

The Global Leasing Report – a study of the world’s top fifty leasing markets – tracks country trading environments and trends in auto and equipment finance.

The author of the report and White Clarke Group CEO, Brendan Gleeson, explained:

“The report reveals a confident industry outlook, with the top 50 countries in 2016 reporting growth in new business volume of 9.40% rising from $1,005.30 billion in 2015 to $1,099.77 billion in 2016.”

He continued:

“The leasing industry has experienced significant growth and has introduced new and innovative ways to finance equipment for companies worldwide.”

China experience huge market surge

The Chinese market, second only to the US, has enjoyed significant growth in recent years, with leasing now seen as an important finance option in China’s domestic economy. According to the Survey of Equipment Finance Activity (SEFA), the Chinese leasing market is now worth $206 billion; a year-on-year increase of 61.9%.

Europe’s leasing markets continue to be dominated by Germany and the United Kingdom which between them account for 42% of Europe’s market total. The year-on-year market growth of both nations indicates strong demand for leasing within Europe. Germany registered 3.42% growth and the UK jumped 8.98%, rising to $64.3 billion and $81.77 billion respectively.

White Clarke Group’s CEO, Gleeson, pressed on 2016, sharing how the year was hugely significant with regards to market developments.

“The year 2016 has brought significant socioeconomic events, namely Brexit negotiations and tense political situations over the world. It is quite early to assess how these markets will react to these events, however the tone for 2017 figures is currently optimistic regardless of such instabilities in international economies.”

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Axis Truck Rental launches post-Brexit flexible contract hire offer 

With Brexit bringing the world of business into a state of uncertainty, some suppliers and service providers have had to adapt, especially in the transport hire space. Axis Truck Rental, one of the largest truck rental operators in the country, has decided to change the shape of their business, eager to help businesses in these turmoil times.  

Now offering a flexible, shorter-term contract hire solution, the firm want to help operators who are feeling the wrath of uncertainty over current and future market conditions post-Brexit

As part of the company’s ‘Brexibility offer’, these shorter rental deals are however on a limited range of second-hand 6×2 tractor units, with Axis working with a three-month minimum hire period. All Euro-5 and Euro-6 trucks, each  package includes tyres, maintenance and road fund licence, with many operators already registering interest.
 
Mick Ledden, MD of Axis Fleet Management, said: “We understand the challenges our customers are facing today and following the Brexit vote, they are telling us they need flexibility. 
 
“This new truck leasing package, with the opportunity to early return before the end on of the contract, will allow companies to run their businesses as normal during a period of sustained uncertainty. It provides all of the benefits of a long-term leasing deal but without the long-term ‘tie-in’ period.” 

Let us know what you think, should companies snap up such offers? Leave your comments below.

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Avis slammed for issuing ‘Brexit Tax’

The hire market has experienced some great changes over the years, with the Brexit vote creating uncertainty over whether or not hire firms would hike up their prices. This week car firm Avis has been slammed for charging what people have called ‘Brexit Tax’.

This was uncovered after an Oxford Zoology professor, Lord John Kerbs, hired a car from the firm, stung with an additional £2.19 charge when returning his vehicle to a French airport.

Speaking to The Sun Lord Kerbs said: “I paid for the car in advance and when I took it back to Marseille airport I noticed the charge on the bill which had no explanation.

“When I spoke to the office manager in the Avis branch to ask what was this for he said ‘oh that is the Brexit tax.’

“I said what do you mean the Brexit tax, and he replied ‘well that is what we charge now.’

“I said we haven’t Brexited yet, and refused to pay.

“I was shocked that this could be a policy, and although the manager could have been pulling my leg, he was deadly serious and when I challenged him, he withdrew the charge.

“Prior or post Brexit it is not right.”

This caused anger mainly due to the fact that the vote was simply a vote, with Britain not officially leaving the European Union until next year. However, a company spokesperson said that the word ‘Brexit Tax’ should be avoided and was simply a miscommunication between their staff.

The source continued to say that the charge was imposed on a “location-by-location” basis and was based on “fluctuations in the currency markets.”

Evidently influenced by Britain’s decision to leave the EU we at Anything for Hire can sympathise with both sides of this argument. Let us know what you think about this subject by leaving your comments below.

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Supercar kid ‘Lord Aleem’ experiences post-Brexit racism

If you are into high end cars then you will have heard of ‘Lord Aleem’, a young, extremely wealthy British Muslim with a passion for fast cars. With strong connections in the UK car hire industry Lord Aleem is the pinnacle of excessiveness, consumed by beautiful cars, clothes and other luxuries.

Lord Aleem (real name – Aleem Iqbal) is renowned for helping the car hire industry out, glorifying finery on wheels and getting the vehicle taste buds of many tickling. Utilising social media platforms Lord Aleem boasts a strong following, now at a stage where he is being used for brand endorsement.

Hitting the news twice this week, once for doing double the speed limit in his father’s £120,000 black Porsche 911 this kid looks, on paper, like he has a pretty easy life.

As the air to the thrown of Platinum Executive Travel his life is certainly lavish. However, it appears that it is not all butterflies and unicorns for the rich kid, experiencing an influx of racism since the Brexit vote.

Writing on Twitter, the 21-year-old said: ‘Just had a little rat shout ‘oi f*** off out the country p*** whilst I was driving. Brexit has given some people a boost.

‘Someone is going to get hurt. Not the only bit of racism I’ve experienced since being back home. I am Muslim and I am proud. I am British and I am proud.’

But he added: ‘Maybe it’s because I’m driving a Rolls Royce…awww.’

Lord Aleem had just returned from a trip to Lebanon where off of his own back his met with Syrian refugees. Whilst away Aleem gave out toys to children as well as visiting a factory run by war widows. Cementing some sort of balance in his life it appears the supercar kid does boast some humble qualities.

Let us know what you think, is Lord Aleem an example of our obsessive need for materials or quite an interesting role model? Leave your comments below.

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London sees a 22% increase in rental property

Brexit has undoubtedly had an impact on the UK property market with prime London locations in particular being affected. However, a month on from the vote and we are still seeing big shifts in landlord behavioural patterns. Now it is being reported that the number of houses up for rent has really spiked, with central London seeing an increase of 22%. Many are putting this down to the landlord buying spree we experienced ahead of stamp duty rises in April.

Sam Mitchell, Rightmove head of lettings, says that the increase in March transactions was “good news” for tenants seeking properties. However, they did advise that it might be shortlived as landlords decided whether to invest further.

“Our own research among landlords shows that just under a third of them are concerned that stamp duty changes, plus the forthcoming tax relief changes, will potentially wipe out their profits,” he said.

“Once tax relief changes start to be phased in from next year, new buy-to-let activity could slow further.”

With such taxes having a rippling affect on mortgage applications and lending the figure of 22% could be on the rise even more over the course of the coming months, seeing the price of rents also increase.

“If confidence in buying houses does falter, it could lead to more people looking to rent, perhaps in the short term, and that would mean that rents could rise further” Mitchell continues.

As a result in this increase the whole property hire market is having to pull there socks up, streamlining advertising methods, property management procedures as well as sourcing other outside vendors.

Share your comments with us.

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Brexit encourages ‘hire freeze’ in the UK

If, like us, you were shocked by the political events of the month then you will be rather concerned about the state of the UK; with business, trade, property and employment rights all up in the air. While concerned by the whole list of issues one that we care tremendously about is the hire market, whether it be hiring people, tools or services.

Hiring people

The Institute of Directors (IoD) surveyed 1,000  members, discovering that a quarter planned to freeze recruitment in light of Brexit. With 5% planning to cut jobs we can clearly see that the theme of uncertainty is proving to be rather problematic.

Simon Walker, director general of the Institute of Directors, told the BBC’s Today programme: “Business leaders are very, very concerned. Nearly half of them expect the other member states to punish Britain.”

Mr Walker said he did not think those that voted for Brexit realised they were voting “for constitutional and economic chaos”, but he added half his members did think they could keep going.

“There’s no point crying over spilt milk. Over time we must not lose faith in business to recover, but it was always going to be a shock with a loss of jobs and economic growth for quite a long time and it looks as though it will permeate through the whole of British business.”

This standstill with have a direct affect on all areas of business, but for how long for we will not know.

The vehicle hire market

BMW, which also owns Mini and Rolls-Royce builds and exports cars in the UK, said before the verdict that:

“We firmly believe Britain would be better off if it remained an active and influential member of the EU”.

Suggesting that we would ultimately pay more for creating an individual partnership outside of the EU we may see hire prices go up. However, that said, with the amount of trade we have with EU countries could a tax battle benefit anyone?