21 August 2018

  |  CBI Press Team

News

Our comments on the Government's Exports Strategy

Expanding trade is fundamental to creating new jobs, raising productivity and increasing prosperity across the country.

Our comments on the Government's Exports Strategy

Ben Digby, CBI International Director, said:

“Expanding trade is fundamental to creating new jobs, raising productivity and increasing prosperity across the country. This strategy is a timely signal that the Government is committed to improving the United Kingdom’s international competitiveness.

“We strongly support the ambition to make exports 35% of GDP, which will put the UK out in front of many of our international competitors. We estimate that in every region of the country there are around 10% of businesses that could export, but don’t, and we look forward to working alongside the Government to support and inspire them to seize the opportunity.

“The strategy rightly recognises that while the Government has an important role to play in improving market access, financing exports and providing incentives to get started, it’s ultimately business that does exports and makes investments overseas.

“The Government is right to encourage export champions among firms themselves – as we recommended in our recent exports report, Winning Worldwide – and to give businesses more of a guiding role in export policy. We want to work with Whitehall to get the most out of this strategy, such as through business trade missions and country working groups, as well as ensuring UK Export Finance remains competitive with other national agencies and delivers value for money for the taxpayer.

“The CBI has consistently called for a long-term approach to exports. Previous strategies have come and gone, but businesses have been let down by their execution. Firms will work with the strong team in place at the Department for International Trade to ensure these plans are now rigorously carried out.”