More cash for international trade

INCREASING international trade with high-growth economies was a central strand of George Osborne’s 2012 Autumn Statement.

The Chancellor said he wanted more small and medium-sized companies to export as he boosted funding to UK Trade & Investment – the government department leading the international trade drive – by £140m.

He told MPs :”We are launching a new £1.5bn export finance facility to support the purchase of British exports.”

This will see UK Export Finance, the government’s export credit agency, for the first time issuing loans to overseas customers and buyers wanting to buy goods from British businesses.

Coverage of the Autumn Statement is brought to readers of TheBusinessDesk.com in partnership with Ernst & Young.

Mr Osborne also announced a further cut to corporate tax rates to 21% from April 2014, to make the UK a more attractive location for investment.

He promised too more resources to ensure multi-national companies trading in Britain pay their fair share of tax.

Click here to sign up to receive our new South West business news...
Close