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the Gibraltar Olive Press October 1st - 14th
1
The Rock’s only investigative
local newspaper FREE
Vol. 2 Issue 22
www.gibraltarolivepress.com
July 6th - July 19th 2016
Has Banksy blown into Tarifa? Find out in our eightpage Costa de la Luz special from Page 13 DIFFERENT WORLDS: ‘I´m here for a good wave’, ‘I´m here for a better life
Rock stands strong despite referendum as major firms vow to stay in Gib By Joe Duggan GIBRALTAR’S businesses are set for a Brexit bounceback. Major players in gaming, banking and insurance have committed to staying on the Rock despite the UK vote to Leave the EU. The property market has also seen a surprising surge in demand following the June 23 referendum, as Gibraltar stands defiant. Royal Bank of Scotland international CEO Andrew McLaughlin also confirmed it is ‘very much business as usual’ for its Gibraltar Natwest branch. And in a keynote speech to the Gibraltar Federation of Small Businesses (GFSB), Chief Minister Fabian Picardo insisted the vote actually opens new opportunities for Gibraltar. “We never said the sky would fall to earth after Brexit,” Picardo said in a 30-minute speech. “I think we are able to better handle the situation than might be the case in an economy the size of England or in Europe which has been subjected to turmoil these past few weeks.
BREXIT BOUNCE BACK “If we are comparing ourselves to ships going into the storm, the UK is like the USS Nimitz, the biggest aircraft carrier in history. We are like a cork. “In the worst storm in history,
I’d rather be the cork. I ain’t going to sink, but I might get wet.” His speech came as various Rock-based gaming companies confirmed they were signing new leases following the refer-
A ‘caution’ note in Budget FABIAN Picardo has labelled this week’s ‘cautious’ Budget as 'the most important for a generation'. As well as warning ‘some charges’ are to go up 'in areas where these have been stagnant for some time', he also warned the enclave would be forced to reign in spending. Picardo said: "We cannot bury our heads in the sand and pretend Brexit didn't happen and the Budget will reflect that. "At the same time, we have to be ready to attract new business to Gibraltar and
to retain the businesses that are already here by continuing to offer the most attractive trading environment possible. "This is the most important Budget for a generation." The key announcement was delayed until Tuesday, after the government had time to properly analyse the fallout of the shock Brexit referendum. The 'cautious' Budget comes despite positive economic growth in the last financial year. See up to date Budget story online
Leading British hotelier urges expats to take Spanish nationality in Brexit protest SWAPPING SIDES: Whaley suggets Spanish nationality to stay in Spain
Throw away your passports EXCLUSIVE By Jon Clarke A LEADING British businessman has urged expats to consider ‘becoming Spanish’ in protest. The Andalucía-based hotelier has also urged ‘moderate, openminded’ young people in England to move to the continent. It comes as Tory leader favourite Theresa May warned UK expats could lose their right to live in the EU. Peter Whaley, the owner of two hotels in Tarifa and father of world number one kitesurfer Liam Whaley, insisted: ‘Thanks to the older, white little Englanders we are all going to suffer in Europe. “Britain has voted for disunity and instability which will no doubt go on for years… “Yes Europe needs reforming, but not from the sidelines, from within. “I’ve been running businesses here for over 30 years and I understand the failings of Spain and Europe but this however will only make it worse.” The owner of Tarifa’s emblematic Hurricane Hotel which opened in 1984, added: “We are not little Englanders here – we are open and worldly and I would urge all British expats in Spain to consider taking Spanish nationality in protest. “I would also urge young people living in London, like my daughter, sickened with this vote, to consider moving to the continent.” May Day - Page 4
endum, Picardo revealed. He also confirmed that two new insurance companies have applied to be licensed in Gibraltar following the referendum. Picardo also claimed the 96% Remain vote on the Rock had given him a powerful bargaining tool to negotiate Gibraltar staying in the EU. Gibraltar Stronger In leader Gemma Vasquez said: “I have every faith Gibraltar will not only survive, but will thrive in years to come.” Meanwhile, Rock estate agent, Chestertons Gibraltar, has reported ‘a significant increase’ in demand. The positive news comes despite a chaotic fortnight in which the UK Prime Minister resigned and the Labour leader faces the sack. Meanwhile the markets and house prices are plummeting, while xenophobic attacks have increased five-fold. Rock and a hard place - P6 Brexit silver lining - P21
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