By Carl Hasty, Director of international payment specialist SmartCurrencyBusiness.com
Point 1: Exports
“It is encouraging that the Chancellor has addressed the issue of exports not reaching the Government’s initial target of £1 trillion by 2020. As I have said previously, the Government needs to provide more support to UK businesses so that they can export to countries outside of the Eurozone, an economy which is currently stagnating.
The £45 million proposed by the Chancellor is welcome, but companies still need more defined guidance on a number of issues, including breaking down barriers to entry, as well as guidance on how to save costs when embarking upon exporting.”
Point 2: Currency – sterling
“Sterling markets have reacted positively to the Office of Budget Responsibility’s revised forecasts of a 3.0% increase in GDP growth and 5.4% decrease in unemployment. However, the outlook for sterling is still uncertain in the long-run, especially given the increase of global risk, which has the potential to affect sterling significantly.”
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