Press release: International trade budget boost for global Britain

first_img Nationals from Australia, Canada, Japan, New Zealand and the United States will be able to use eGates at the UK border – ensuring business and leisure visitors from these countries have a fast and efficient arrival in the UK. In a speech on Wednesday 31 October, the Foreign Secretary will announce the biggest expansion of Britain’s diplomatic network for a generation, confirming 12 new Posts and nearly 1,000 more personnel. This will include a new Mission to the HQ of the Association of South-East Asian Nations (ASEAN) in Jakarta. Enhancing DIT’s overseas network in Europe Ambassadors will also work closely with the 9 HM Trade Commissioners, appointed by the International Trade Secretary, who lead on all trade promotion and policy overseas. The bulk of support will see UKEF’s existing £3 billion capacity for direct lending increase by £1 billion for each financial year 2020/21 and 2021/22, helping UK businesses grow their trading relationships with markets around the world. The announcement follows the publication of the government’s Export Strategy earlier this summer and underlines the government’s commitment to helping UK exporters take full advantage of international demand for our world-class goods and services. From small businesses taking the first step on their exporting journey to international investors, this global Britain budget will help cement the UK’s position as one of the world’s best destinations to trade. The extra £2 billion for UK Export Finance will ensure it continues to be a game-changer for UK exporters and the additional support for my international economic department allows us to help businesses take full advantage of the limitless global trading opportunities. Whether it’s attracting investment or supporting exports, this Budget will drive the UK’s growth and prosperity for years to come. Background InfoSupporting UK Exports Allowing citizens of US, Canada, Australia, New Zealand and Japan to use e-passport gates will significantly reduce queuing at major airports. £5 million will be made available to the Department for International Trade (DIT) as it grows its European network to attract investment and help UK exporters land new deals on the continent. Attract Inward Investment International Trade Secretary Dr Liam Fox MP said: UK Mission to ASEAN An additional £2 billion for UK Export Finance (UKEF’s) direct lending for overseas buyers of British goods and services, helping exporters succeed in the global marketplace. The UK has many strengths that attract investors: an open, liberal economy, world-class talent and business-friendly environment. This has helped win more foreign direct investment than Germany, Italy and Japan combined. DIT provides support for exporters and investors in over 100 markets worldwide. Streamlining the UK border The UK’s global economic role is prioritised in the Budget as the Chancellor set out an additional £2 billion of credit for buyers of British products and services. Other measures include more support made available for investors and UK exporters in Europe whilst nationals from 5 of our strongest trading partners will now be able to use eGates at the UK border.A new UK mission to the Association of South-East Asian Nations (ASEAN) will also open, the Foreign Secretary will announce later today (Wednesday 31 October). ASEAN is the world’s fifth largest trading bloc, and an important economic partner for the UK.Ambassadors will work closely with the 9 HM Trade Commissioners, appointed by the International Trade Secretary, who lead on all trade promotion and policy overseas.In the Budget, the Chancellor announced: HMRC will halve the time it takes companies to become Trusted Customs Traders from 120 to 60 days, delivering the UK’s ambition to be a world leader in global customs administration. £5 million will ensure the department is equipped to help in European markets, aiding exporters’ understandings of the practicalities of doing business around the world. Reducing the time, it takes to become an Authorised Economic Operator or other types of Customs Trusted Traders, will make trade across borders, quicker, cheaper and easier for a wider range of businesses.last_img read more


first_imgBunagee Pier takes a bettering. Pic by Brian Bonner.STORM UPDATE: MALIN Head recorded the highest wind gust of today’s storm, Met Eireann told Donegal Daily.The gust – at 130km/hr – was recorded at the weather centre at Ireland’s highest point.“It was recorded just after 10am,” said forecaster Nuala Carey. “Thankfully the highest winds have passed and it is slowly starting to settle down.“It will remain very wind across the North West but it won’t be as windy as it was in the early hours of this morning.Some snow flurries may fall on higher ground this evening; with rain and hail for the rest of the county.The worst of the weather is in Britain where a storm surge in the North Sea will create the worst coastal conditions in 60 years. ESB continue to re-connect hundreds of homes in Donegal which were without power as a result of the storm. More than 2,000 which were cut off have had power restored.Homeowners have reported damage to homes and property with fences ripped up and roofs ripped off sheds. Carndonagh lost its Christmas tree.Donegal County Council staff have worked since the early hours to remove trees blocking some roads in the county.Our earlier report is here: MALIN HEAD HIT BY HURRICANE-FORCE WIND BLAST was last modified: December 5th, 2013 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:damagedonegal daily weatherMalin HeadMet Eireannstormlast_img read more