The Chancellor’s Autumn Statement this Wednesday is expected to be low on unfunded giveaways, given the economy’s structural deficit and the run-up to the general elections in May 2015.
“The UK economy is far off course to reach the Government’s target of £1 trillion exports by 2020,” says Carl Hasty, Director of international payment specialist SmartCurrencyBusiness.com. “The Eurozone, the UK’s largest export market, is still deteriorating economically, and UK businesses need to look further afield.
“The government needs to spearhead initiatives to help UK businesses trade outside of the Eurozone. Opportunities are currently more plentiful in emerging markets than in the Eurozone, like China. However, businesses need support to identify the most suitable markets for them, get past barriers to entry, and trade successfully.”
“I would like to see the Government provide more help to UK exporters at these key stages. These should be incorporated into the Autumn Statement, along with a revised, realistic export goal.”
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