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Institute of Export welcomes Chancellor’s pledge

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The director general of the Institute of Export & International Trade has welcomed the commitment to help export trade in the budget last week. Rishi Sunak outlined measures to encourage exports as part of the Conservative government’s “plan for prosperity”.

The D G Marco said that the Institute wished to congratulate the Chancellor for recognising the importance of export to the government’s vision of ‘a low tax, high growth economy; the speech’s five specific references to exporting were about supporting UK business to trade overseas.

The government has committed to make available £5bn of new exports loans for businesses and appoint dedicated regional trade envoys in embassies throughout the world.

The Institute of Export hopes that the Chancellor’s agreement that businesses “need support to start up, grow and export” will encourage the further extension of the export training grants beyond January 2021.