Also in the news...
Switzerland: providing services and travelling for business
Guidance for UK businesses on rules for selling services to Switzerland.
UK lands trade deal with South Korea to boost jobs and exports
UK lands momentous trade deal with South Korea to boost jobs and exports
New laws bring the world of work into the 21st century
Over 15 million people across the UK are expected to benefit as the Employment Rights Act receives Royal Assent.
Brilliant Borders: Kenya's Customs goes digital
A new app will save time and money for big businesses and small traders alike, as a longstanding Kenya-UK partnership further improves cross-border trade.
Yorkshire family brewery taps into new export opportunities with Government guarantee
UKEF support helps Wold Top brewery to expand its exports into new markets.
Chancellor uses trade trip to Brazil to hail further finance support to back British exporters
At the start of a three day trade trip to Brazil, the Chancellor of the Exchequer, the Rt Hon George Osborne MP, announced the next stage in the government’s fundamental overhaul of finance for British exporters.
The Budget announced expansion of public-sector direct lending; today the Bank of England announced plans to support expansion of private sector lending for exporters. These measures will move the UK to the top of the global league for export support.
In a speech to business leaders in Rio de Janeiro, the Chancellor:
- announced, following discussions with the Governor, a significant step to increase availability and cut the cost of private-sector lending for exporters, and welcomed the Bank of England giving finance guaranteed by UK Export Finance (UKEF) access to its Sterling Monetary Framework facility, to help make such lending less risky
- confirmed a doubling in size of the UKEF direct publicly-financed lending facility for exporters to £3 billion and the cutting of its interest rates by a third