Source · Select Committees · Business and Trade Committee
Recommendation 8
8
Accepted in Part
Develop trade strategy with industrial strategy and publish plan to remove export barriers.
Recommendation
We recommend that the Government develops its forthcoming trade strategy with the industrial strategy and makes sure that it enables the 8 growth-driving sectors to grow exports, including in the food and drink sector. We also recommend that the Government publishes a 71 10-year plan for working to take down non-tariff barriers and ‘behind the border’ barriers to UK exporters in the growth driving sectors. (Recommendation, Paragraph 54)
Government Response Summary
The government states the Trade and Industrial Strategies were developed together to support growth sectors with direct export support, including new legislation for UK Export Finance and a "Ricardo Fund" for removing trade barriers. However, it does not commit to publishing a separate 10-year plan for tackling non-tariff barriers.
Government Response
Accepted in Part
HM Government
Accepted in Part
4.1. The Trade Strategy and the Industrial Strategy were developed together, and they will work together hand-in-glove to give UK businesses the support they need to invest and grow. 4.2. The Trade Strategy sets out an ambitious plan for reshaping the way that the UK trades and marks a reset in our approach to international trade. Building on traditional Free Trade Agreements (FTAs), this strategy is designed to stimulate economic growth, through delivery of targeted business benefits, in a rapidly changing global landscape. 4.3. Together, these strategies set out how we will provide businesses with more and better direct support to grow exports, ranging from information and guidance to commercial diplomacy tailored export finance to international marketing campaigns. This includes bringing forward legislation to increase the maximum size of UK Export Finance’s financial portfolio, and supporting UK regulators to remove barriers to businesses trading abroad, creating a dedicated new “Ricardo Fund” for this purpose.