The outlook is tough; however here’s one simple step to control your outgoings
Responding to the news that fully vaccinated travellers from the EU and US will not have to quarantine, British Chambers of Commerce Co-Executive Director, Claire Walker, said: “For the hundreds of thousands of people directly employed in the travel industry and the many more that are part of supply chains, this will be welcome news."
Responding to yesterday's ONS trade statistics, William Bain, Head of Trade Policy at the British Chambers of Commerce, said: “The pandemic and the shift to new trading conditions in how UK companies sell services to the EU have led to a clear reduction in UK-EU services trade compared with 2019. Today’s ONS data release shows services trade with the EU fell at a brisker rate than trade with the rest of the world over the two years to the end of March 2021. Services exports to the EU fell by 14.7% in that period and imports by 38.8%."
While it will be a relief to some businesses in England that select critical workers can be exempt from self-isolation, it will leave many more still facing critical staff shortages and lost revenue as the number of people being asked to isolate remains high.
Responding to the announcement of the new UK approach to the Northern Ireland Protocol, William Bain, Head of Trade Policy at the BCC, said: “Businesses in both Great Britain and Northern Ireland need durable, workable, negotiated solutions on compliance with the Protocol to ensure the continued two-way flow of goods East-West and North-South. The UK Government and EU need to work together to find solutions which work for business."
The UK government should seek to expand trade opportunities for UK businesses in the switch to greener technologies and practices.
Hard-pressed companies will need further support into next year as they adjust to this new phase of the biggest change in trading terms with the rest of Europe for half a century.
The British Chambers of Commerce’s Trade Confidence Outlook for Q2, released today, has shown that exporters still face significant issues after a historically weak Q1. The survey of more than 2,800 UK exporters revealed that the percentage of firms reporting increased export sales had risen to 27%, a 7-point rise from the previous quarter.
BCC says it is great news that Accredited Chambers will be leading all eight of the Department for Education's pilot schemes to develop local skills training provision.
Commenting on ONS Labour Market statistics for July 2021 published today, BCC Head of Economics, Suren Thiru, said: “The significant rise in payroll employment suggests that UK jobs market continued to improve as the economy gradually reopened.