A survey of 2,600 UK exporters has revealed that the recovery in export sales has largely stalled in Q3. The proportion of firms reporting increased sales rose only three points (to 30%) from Q2 (27%), whilst the proportion reporting decreased sales fell by just two points (Q3:26%/ Q2: 28%).
The announcement of a deal between the US, the UK, France, Austria, Italy and Spain on digital services taxes, and transitioning unilateral measures taken beforehand, will be strongly welcomed by business in the UK
Labour shortages across the economy, in particular HGV drivers, are identified as a factor in relatively weak imports and exports performance. This further makes the case for Government’s new supply chain task force to find solutions to these issues affecting the UK economy.
An agreed solution between the United Kingdom and the EU on how the Protocol should work and businesses comply with it, is by far the best outcome. It offers clarity for businesses and certainty for inward investment in Northern Ireland.
William Bain, Head of Trade Policy at the British Chambers of Commerce,
“The Government needs to work now with businesses to ensure full consideration to the impacts are given before any decision to completely pull the plug on CE-marked goods, risking incurring costs to our economy that we may come to regret.”