Saturday, August 19, 2023
No confidence in UK trade deals
The Independent reports that government research has found that British firms are increasingly pessimistic about the benefits of post-Brexit free trade deals.
The paper says that the Department for Business and Trade’s survey of more than 3,000 companies revealed that three out five (58 per cent) now think the free trade deals will have no positive impact on their business. That’s up from 54 per cent in the previous year – a sign of growing dismay about the opportunities the agreements can offer, despite promises that Brexit can help boost “global Britain”.:
Less than one third (31 per cent) of businesses believe trade deals would have a positive effect, down from 33 per cent the previous year.
It comes as the latest public polling shows most voters are gloomy about Brexit’s impact on Britain’s juddering economy. Some 61 per cent believe the UK’s exit from the EU has left the country worse off.
The annual government survey of British companies’ exporting behaviour shows that concerns relating to the UK’s exit from the EU “continued to be prominent” – with firms citing red tape and supply chain issues.
In 2017, almost three in four (73 per cent) companies said there was a lot of demand for UK goods and services – but the figures dropped to 55 per cent in the latest survey. And 49 per cent cent said there had been less demand for goods and services since Brexit, an increase from 39 per cent in the previous survey.
William Bain, head of trade policy at the British Chambers of Commerce, said: “It doesn’t surprise me that companies feel pretty sore about things and that is what our survey data shows as well.
“But it is also true that we’re in a better place than we were last year and the government has been listening to some of our concerns,” he said.
Tina McKenzie of the Federation of Small Businesses said the findings “paint a mixed picture of exporting”, before calling on ministers to reduce post-Brexit red tape as much as possible."
Brexit is going well then.
The paper says that the Department for Business and Trade’s survey of more than 3,000 companies revealed that three out five (58 per cent) now think the free trade deals will have no positive impact on their business. That’s up from 54 per cent in the previous year – a sign of growing dismay about the opportunities the agreements can offer, despite promises that Brexit can help boost “global Britain”.:
Less than one third (31 per cent) of businesses believe trade deals would have a positive effect, down from 33 per cent the previous year.
It comes as the latest public polling shows most voters are gloomy about Brexit’s impact on Britain’s juddering economy. Some 61 per cent believe the UK’s exit from the EU has left the country worse off.
The annual government survey of British companies’ exporting behaviour shows that concerns relating to the UK’s exit from the EU “continued to be prominent” – with firms citing red tape and supply chain issues.
In 2017, almost three in four (73 per cent) companies said there was a lot of demand for UK goods and services – but the figures dropped to 55 per cent in the latest survey. And 49 per cent cent said there had been less demand for goods and services since Brexit, an increase from 39 per cent in the previous survey.
William Bain, head of trade policy at the British Chambers of Commerce, said: “It doesn’t surprise me that companies feel pretty sore about things and that is what our survey data shows as well.
“But it is also true that we’re in a better place than we were last year and the government has been listening to some of our concerns,” he said.
Tina McKenzie of the Federation of Small Businesses said the findings “paint a mixed picture of exporting”, before calling on ministers to reduce post-Brexit red tape as much as possible."
Brexit is going well then.
