The UK Government has announced plans to launch a new subsidy control system following Brexit, built upon ‘UK-wide principles’. The new system, brought about by The Subsidy Control Bill, will allow public authorities to deliver grants, loans and guarantees without existing bureaucracy and red tape. Pre-Brexit, the UK followed the EU’s state aid rules meaning
The government has launched the UK’s bid to join the Trans-Pacific trading bloc, an economic zone worth more than £9tr. Talks have opened today with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership nations (you’ll be glad to know there’s a handy acronym, CPTPP), currently comprising of 11 countries. The deal could mean tariff-free trade
Food and drink exports from the UK to the EU have fallen by almost half in Q1 2021 compared to the same period last year. Trade groups have said the figure shows the impact of post-Brexit trade barriers, with the value of exported produce dropping 46.6% to £1.7bn according to data from the Food and
UK Customs is under serious threat of losing duty revenue as a mountainous backlog of declarations grows. At the start of the year, HMRC announced a six-month grace period for importers having to declare on goods imported between 1st January and 1st July, with the first of the delayed batch being due on the 25th
A report by the University of Sussex has found that around 10% of UK exports have unnecessarily paid tariffs since the start of the year. The University’s Trade Policy Observatory analysed EU data to find that up to £3.5bn of British exports have paid tariffs which they didn’t need to. One reason given that exporters
The government is to launch a post-Brexit tariff suspension scheme designed to help local manufacturing firms be more competitive by lowering the cost of importing raw materials that are rarely available locally. Launching next month (June 2021), UK companies can apply for their duties on imports to be temporarily reduced – or even removed. A
Belgium is working to attract UK businesses into the country by offering easier access to the EU. The charm offensive has stepped up a gear as it continues to evolve and streamline customs processes and offering the opportunity for strategic partnerships. Werner Rens, of the Belgian Customs Authority, said at a British Chambers of Commerce
UK milk and cream exports into the EU have plummeted since the start of the year, providing the dairy industry with one of the gloomiest Brexit outcomes so far. Milk and cream exports, worth £24 million in February last year, dropped a staggering 96% to just £900,000 this year. Cheese exports have also fallen 65%
The Department for International Trade has launched a new grant scheme designed to support UK firms to expand internationally. Called the Internationalisation Fund, grants of between £1,000 and £9,000 will be made available to eligible firms covering a wide range of international business activities, from export consultancy to digital marketing. Businesses will need to cover
The UK has failed to reach a post-Brexit agreement with Norway over the rights for UK vessels to access Norway’s sub-Arctic waters. With the UK leaving the European Common Fisheries Policy at the start of the year and now dealing directly with Norway, an agreement couldn’t be reached after the UK government’s ‘fair offer’ was