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WEEKLY TRADE UPDATES

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The first Spring Statement follows the change to a new system with only one Budget and Finance Bill announcement each year, meaning businesses and people face less frequent changes to the tax system, helping to promote certainty and stability. Chancellor Philip Hammond has said the UK economy is growing at a slightly faster rate than […]

On Friday 2 March, Theresa May delivered her third Brexit speech and it was clear to all that there was a change in tone. May used this opportunity to deliver a couple of realities on trade with the EU and acknowledged the scale and complexity of the task in hand. Adam Marshall from British Chambers […]

On Sunday 25 February the fourth annual Sunday Times Lloyds SME Export Track 100 was announced, ranking Britain’s small and medium-sized private companies with the fastest-growing international sales. Ian Wilson, CEO of DHL Express UK and Ireland, writes “…goods from the UK are in demand from customers who have an appetite for style and premium […]

Helping Britain do business internationally Chancellor Phillip Hammond’s upcoming Spring statement The Treasury spokesperson this week outlined low-key plans for the Spring statement taking place on 13 March. Mr Hammond has decided to bring an end to the system that included both a Budget and a financial statement each year, instead opting for a short […]

Helping Britain do business internationally Global trade growth to stay above-trend According to the World Trade Organization’s (WTO) quarterly outlook indicator, global trade in goods should continue to grow above the trend. WTO economist Coleman Nee said: “the recovery of 2017 seems to be extending into the first quarter of 2018 at least, based on […]

Theresa May confirms Britain will not be in a customs union This week the Prime Minister and Brexit Secretary David Davis met Mr Barnier, the Chief negotiator from the EU, to accelerate discussions on the “transitional” period that both sides want after Brexit. On Monday, Downing Street reaffirmed that Britain will not be in a […]

UK economic growth exceeds forecasts According to the Office for National Statistics (ONS), in the last three months of 2017 the UK economy expanded by 0.5 per cent. Economists had initially predicted a 0.4 per cent expansion so the better-than-expected economic growth was welcomed. Darren Morgan, Head of GDP at the ONS, said: “The boost […]

Economist says UK will cope with Brexit hit Former Goldman Sachs economist and ex-Treasury minister Jim O’Neill said: “Britain’s economy is likely to fare better in 2018 than many forecasters suggest and the benefits of global growth in the years ahead should easily dwarf the hit from leaving the EU.” O’Neill suggests that the UK […]

Trade ties strengthened in Turkey The Trade Secretary, Dr Liam Fox, has travelled to Turkey to further strengthen the UK’s trade relationship with the country. Dr Fox met with President Erdoğan to discuss how the two countries will continue to build a strong trade relationship post Brexit. Turkey is a key market for the UK […]

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