A new transaction tax is set to begin at 15%, rising potentially to 17% over the course of three years. In addition, some businesses may also face tariffs on goods imported from third countries, which could include goods arriving from the UK but manufactured outside of the UK or EU.

The GFSB has reacted to yesterday's headline-making power cut that affected members across all sectors. Speaking to The Gibraltar Chronicle, Owen Smith, Chairman of the Gibraltar Federation of Small Businesses, said that power cuts have “a huge impact” on businesses, particularly small ones where not everyone can afford a generator.