SPONSORED

Britain is expected to relax visa regulations

The reason is lack of truck drivers

•• 3 Min
Britain is expected to relax visa regulations

ng lines of cars meandered outside petrol stations in the UK on Saturday, where an acute shortage of truck drivers led to fuel rationing and the drying up of some pumps, prompting the government to consider issuing temporary work visas.

Drivers across the country waited in long lines to refuel their vehicles. A large trader said he had rationed sales and a number of operators said they had to close some gas stations, causing panic buying.

Government ministers and oil companies say that gasoline and diesel supplies are plentiful and that there is no cause for concern, but that the lack of truck drivers is hindering the transport of fuel from refineries to gas stations.

Since the retailers are also warning of significant supply bottlenecks in the run-up to Christmas, the office of Prime Minister Boris Johnson says it is looking into a short-term solution to the truck driver shortage.

"We are considering temporary measures to avoid immediate problems, but any measures we put in place will be strictly limited in time," a spokeswoman for Johnson's Downing Street office said in a statement.

"Like countries around the world, we are suffering from a temporary, COVID-related shortage of drivers needed to move goods around the country."

According to the UK's Road Haulage Association (RHA), the UK is missing about 100,000 drivers due to the brain drain, Brexit and COVID-19 that put driver training and testing on hold for about a year.

Newspapers have reported that the government would allow up to 5,000 foreign drivers to enter the UK on short-term visas, a measure that logistics companies and retailers have been calling for for months but which the government has so far ruled out.

Business leaders and the freight forwarding industry have welcomed this plan, but there are also doubts as to whether it goes far enough or whether drivers from Europe, which is also a labor shortage, will come to the UK.

"We have to see if we can attract people for a short period of time," Huw Merriman, chairman of Parliament's Transport Committee, told BBC TV.

Brian Madderson, chairman of the Petrol Retailers Association, which represents independent fuel retailers, said he expected the problem to last for "a while".

"I think the situation will get worse rather than get better," he told Sky News.

The issue came to the fore after BP (NYSE: BP) announced it had to close some of its stores due to driver shortages, and ExxonMobil's (NYSE: XOM) Shell (LON: RDSa) and Esso reported problems with supplying Gas stations.

The EG Group, which operates 341 gas stations across the UK, said Friday it would introduce a limit of £ 30 ($ 41) per customer on fuel due to "unprecedented customer demand".

Since the early hours of the morning on Saturday, drivers have been queuing up in front of the petrol stations, and some petrol stations have closed because they ran out of fuel.

"I was out on my bike ... and I passed my BP gas station and it was chaos," Merriman said. "As soon as the news is spread that there might be a fuel shortage, people understandably respond.

Police reported traffic jams across the country caused by drivers standing in line and told people not to contact them because the traffic was causing problems.

Britain, the fifth largest economy in the world, is also grappling with a surge in European natural gas prices, which is driving up energy prices and potentially causing food shortages.

According to the UK, the long term solution for the freight forwarding industry is to hire more UK drivers and pay them better.

(1 dollar = 0.7311 pounds)

OilGreat BritainTrucks

Most Popular News

  1. SpaceX’s $8B Spectrum Deal Sends AT&T, Verizon, and T-Mobile Plummeting
  2. Is Project Vault Securing America’s Supply Chain or Squeezing It to the Breaking Point?
  3. Why Gautam Lohia Shifted from Global Consulting to Reboot a $20M Tech Micro-Cap
  4. Everyday Luxury, Unstoppable Scale: Aritzia Delivers 44% Net Revenue Growth
  5. Can Navy SEAL Leadership and Big Tech Scale Revolutionize Airborne Threat Detection?

Disclaimer


This report should not be viewed as investment advice or as an offer to buy or sell any securities or as an invitation or solicitation of an offer to buy or sell any securities. Neither the author of this report, its publisher, nor any other person associated with the publication of this report, are registered brokers, investment dealers, investment advisers, or financial advisers. The information in this report has not been tailored to the particular needs or circumstances of readers and should not be relied upon as investment advice or recommendations to purchase or sell any of the securities presented in this report. Readers seeking investment advice should contact qualified and registered brokers, investment dealers, investment advisers, or financial advisers prior to making any decision to buy or sell any of the securities referred to in this report. The information in this report should not be construed as investment, legal, or tax advice. No recommendation is made as to whether an investment in the presented securities is suitable for any reader in light of the reader’s particular circumstances.

Readers are cautioned that the publisher of this report covers exclusively securities that carry a high degree of volatility. Investing in such securities is highly speculative and carries a high degree of risk. Investors in such securities could lose all or a substantial portion of their investment. Only those investors who can afford to lose all or a substantial portion of their investment should consider investing in the securities referred to in this report.

This report may include information obtained from publicly available sources, including third-party reports or analysis. Neither the author nor publisher of this report, nor www.juniorstocks.com or its owners, have undertaken any independent investigation into the factual information used in this report, and the information in this report is provided without any warranty of any kind. No representations or warranties are provided regarding the accuracy or completeness of the information provided in this report. Statements of opinion or belief are those of the authors and/or publisher of this report. These statements of opinion or belief are expressions of the author’s and/or publisher’s judgment, and there is no guarantee that those judgments will turn out to be correct. No inference should be drawn that the author and/or publisher have any special or greater knowledge about the presented companies or their securities, or any particular expertise in the industries or markets in which the company operates. Readers should conduct their own due diligence and seek professional advice prior to investing in any securities presented on Juniorstocks.com.

Certain statements in this report constitute “forward-looking” statements. Forward-looking statements often, but not always, are identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “targeting,” and “intend” and statements that an event or result “may,” “will,” “should,” “could,” or “might” occur or be achieved and other similar expressions. Forward-looking statements express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance; they are not statements of historical facts and should not be viewed as any guarantee of any future result. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. The author and/or publisher of this report disclaims any obligation to update the forward-looking statements in this report, whether as a result of new information, future events, or results or otherwise. There is no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The information provided in this report is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to applicable law or regulation, or would subject the author or publisher of this report to any registration requirement in such jurisdiction or country.

Information about the editor of this publication:
Juniorstocks.com is a service provided by Piccadilly Capital Group, Office 66, 101 Clapham High Street, London, SW4 7TB, UK. Piccadilly Capital Group is not the publisher of this report and was not paid for the publication of this report. Piccadilly Capital Group seeks to generate web traffic and a growing number of followers through the publication of articles or reports. Directors, officers, and other insiders of the publisher own an interest in Piccadilly Capital Group. Piccadilly Capital Group does not endorse or recommend the business, products, services, or securities of any company mentioned on www.juniorstocks.com. Piccadilly Capital Group will not share your information with any outside third parties. Due to the new data protection basic regulation, we ask you to read our data protection declaration carefully.

Note on copyright:
The contents published on this website and on connected media (e.g., e-mail, X, Facebook) are subject to applicable copyright and ancillary copyright laws. Any use not permitted by applicable copyright and ancillary copyright laws requires the prior written consent of the provider or the respective rights holder. In particular, this applies to the duplication, editing, translation, storage, processing, or reproduction of content in databases or other electronic media and systems. Contents and rights of third parties are marked as such. Unauthorized reproduction or transmission of individual contents or complete pages is not permitted and is punishable by law. Only the production of copies and downloads for personal, private, and non-commercial use is permitted. Links to the provider's website are always welcome and do not require the consent of the provider of the website. Photos and images on the website may not be shared unless the publisher itself has acquired the initial rights from authorized sources. The presentation of this website in external frames is only allowed with written permission. If you notice any violations, please inform us. Please note: The content of our articles, emails, or other publications or social networks such as X, LinkedIn or Facebook is exclusively intended for the designated addressee(s). If you are not the addressee of these articles, emails, or other publications in the market letter or social networks such as Twitter or Facebook or his or her legal representative, please note that any form of publication, reproduction, or distribution of the content of these articles, emails, or other publications in the market letter or social networks such as X, LinkedIn or Facebook is prohibited. Falsifications of the original content of this message during data transmission cannot be excluded in principle.