New Government Trade Strategy to protect and boost British business

British Superyacht
15 minutes ago
2 min read

As British Superyacht move forward in encouraging the UK Government recognise the contribution of the superyacht industry to the economy and our request for further trade support for exporting businesses, we are pleased to see the launch of the UK Government 'Trade Strategy'. which marks a pivotal moment for British businesses including those in the superyacht sector. This comprehensive plan is designed to not only protect UK industries but also to propel them onto the global stage, ensuring our nation's prosperity in an ever-evolving international market.

The strategy, which has been in development since its initial announcement, is built on several key pillars. A significant aspect is the substantial financial support for exporters. With the introduction of the Ricardo Fund, an impressive £5 billion will be unlocked for businesses. Furthermore, UK Export Finance (UKEF) capacity is being expanded by £20 billion, bringing the total to £80 billion, to underwrite and support our exporting businesses. This includes the new "Small Export Builder" designed to help smaller firms access crucial export protection insurance.

The strategy also places a strong emphasis on the UK's world-leading services sector and other high-growth industries. By pursuing mutual recognition of qualifications, the aim is to solidify our position as a services superpower. The focus will be on securing quicker, more targeted trade deals that deliver tangible benefits to UK businesses in a shorter timeframe.

Finally, this strategy reaffirms the UK's commitment to a rules-based international trading system. By joining the Multi-Party Interim Appeal Arbitration Arrangement (MPIA), the UK is sending a clear signal of its dedication to fair and transparent global trade. This launch is a clear statement of intent: the UK is open for business, ready to compete, and committed to a prosperous future for all its industries.