Follow Us

Follow us on Twitter  Follow us on LinkedIn
 

17 February 2022

CITY AM: Three in four UK exporters say Brexit trade deal is stopping growth


Just under three in four British exporters believe the UK-EU post-Brexit trade deal is not helping them increase sales, according to a new survey from the British Chambers of Commerce (BCC).

The survey found 71 per cent of businesses disagreed with the statement that Boris Johnson’s trade deal was “enabling their business to grow or increase sales”, while the majority of respondents said “it has pushed up costs, increased paperwork and delays, and put the UK at a competitive disadvantage”.

The post-Brexit trade deal ensured British businesses could still sell goods in the EU without any tariffs, however it does require exporters to fill out lengthy paperwork.

The BCC said the main complaints from British firms about the deal were the increased costs of paperwork, the fact that smaller businesses did not have the time or resources to navigate the new red tape and that it had put off some EU customers due to the new regulations.

The business body is calling on the government to broker a deal with the EU to ensure British exporters do not need to acquire export health certificates if they are sending food overseas and to simplify the costs of EU-imposed VAT.

William Bane, head of trade policy for the BCC, said: “Nearly all of the businesses in this research have fewer than 250 employees and these smaller firms are feeling most of the pain of the new burdens in the TCA....

more at CITY AM



© City A.M.


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment