New data has shown that 66% of the UK public supports free trade deals, with just 3% opposing them. That’s the findings of the Department for International Trade’s first ‘public attitudes to trade’ tracker, a survey of 2,400 people across the UK that aims to calculate people’s changing attitudes to trade over time. Giving reasons
The performance of UK exports and goods over the last twelve months has continued to rise, reaching a new record high despite a challenging global trade environment and impending departure from the European Union. In the 12 months to May 2019, overall exports increased by 4% to £647.1 billion with goods exports alone increasing by
After two decades of negotiation and amid a growingly protectionist political backdrop, the EU and South American member states of the Mercosur economic bloc have signed a trade deal that by some metrics is the largest ever agreed. The deal, which will see tariffs cut or removed on goods and services between both countries, will
The Institute of Directors has warned businesses to pick-up the pace of no-deal Brexit preparations, saying British businesses have made little progress in planning for a hard exit this October. The group said that businesses ‘cannot afford to put their faith in politicians to produce a Brexit resolution’. A survey conducted of its members found
The Society of Motor Manufacturers and Traders has issued a stern warning against a hard Brexit, suggesting border delays alone could cost the sector £50,000 a minute. The prediction was published as part of the trade body’s report into the car industry – the country’s single biggest exporter of goods. It warned that shipments of
The value of goods exports has increased once again across all four regions of the UK as demand for British products continues to grow overseas. Through the 2018/19 financial year, Scotland recorded the highest growth, whilst Wales and Northern Ireland also returned strong international trade increases. England continues to deliver the highest trade value with
International sales of Scottish food and drink have surged to a record-breaking £1.4 billion in Q1 2019. A healthy increase of 14% since last year, latest figures highlight strong demand in particular for Scottish salmon and, of course, whisky, which accounted for three-quarters of all export sales last year. On the latest figures, Food Minister
Car production in the U.K. has been cut almost in half as manufacturers induce an early summer slowdown. According to the Society of Motor Manufacturers and Traders (SMMT), factories produced nearly 45% fewer vehicles in April compared to a year previously with just 71,000 cars rolling off production lines – 60,000 fewer than April 2018.
The trade deficit remains far higher than forecast by City economists as British businesses continue to stockpile critical goods and components ahead of a delayed Brexit. The deficit in Q1 this year hit £18.3bn, a record high for any three month period and nearly double the £9.4bn disparity seen in the final quarter of last
By Mike Wilson In my last article writing for Cheshire Media Magazine, I speculated that there could be a delay to Brexit beyond the March 29th planned exit, yet questioned whether giving the politicians more time to argue would make any real difference? Unfortunately, it turns out I was right and we sit here today,