Balance of Trade

City AM reports that UK businesses have been urging ministers to be more proactive in helping firms adjust to changes in the global economy. The Confederation of British Industry (CBI) wants the next government to deliver a targeted subsidies programme to help firms adopt new technologies. Meanwhile, the British Chambers of Commerce (BCC) has called on ministers to appoint an AI champion to spearhead uptake of new technologies among SMEs. The Director of policy at the BCC, said solutions required “long-term buy-in from our politicians.”

BFS Comment:

This is indeed a matter of vital importance for the future of the UK economy. One hopes that both politicians and the UK media will pay serious attention to this. It is essential that our businesses thrive and that our exports grow to reduce the current balance of trade deficit. This is the only real long-term solution to release all the extra finance needed to achieve all that the politicians are currently talking of funding by simply ‘shuffling the deckchairs on the Titanic’. Adopting AI and new technologies will be a key element of this!

#exporting #exportfinance #exportadvice #exportcredit

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