CHAMBER NEWS


Cautious welcome to plans for future trade with the EU


Philip Hammond


A recently-published Government paper outlining future customs arrangements with the EU has been given a cautious welcome by the Chamber. It said the plan offered greater clarity of Government intentions for the


region’s exporters. But it warned that the Government’s stance on future membership of the EU customs union did not mean the terms would be accepted by the other 27 members of the EU. Countries inside the customs union don't impose tariffs - taxes on


imports - on each other's goods and every country inside the union levies the same tariffs on imports from abroad. Publishing the paper setting out proposals for a future customs relationship with the EU, David Davis, the Secretary of State for Brexit, said the approach would “avoid a cliff-edge for businesses and individuals on both sides”. He said: “The way we approach the movement of goods across our


‘Chamber members will welcome attempts to retain frictionless trade between the UK and the EU’


border will be a critical building block for our independent trade policy. An interim period would mean businesses only need to adjust once to the new regime and would allow for a smooth and orderly transition. “The UK is the EU’s biggest trading partner so it is in the interest of both


sides that we reach an agreement on our future relationship. The UK starts from a strong position and we are confident we can deliver a result that is good for business here in the UK and across the EU.” Chancellor of the Exchequer, Philip Hammond, said: “Our proposals are ambitious, and rightly so. They set out arrangements that would allow UK businesses to continue to trade with their European partners in the future, while expanding their markets beyond the EU.” Laura Howard, the Chamber’s Head of International Trade, said: “I know


that Chamber members will welcome attempts to retain frictionless trade between the UK and the EU that reduces bureaucracy and costs. This announcement offers greater confidence for businesses trading with the EU.” The Chamber processes export documentation for goods being sent to


over 140 countries worldwide. In the six months to the end of June this year, the Chamber’s international team processed documents for £218,296,122 worth of commercial goods being shipped outside the EU. It also provides training to help businesses understand procedures.


East Midlands sees reversal of fortune in employment


Unemployment nationally was at its lowest rate since 1975, according to last month's official figures released, but the East Midlands has seen a reversal of fortune. And according to the Office for


National Statistics, the number of people in work nationally is at the highest level since records began in 1971. The record figures have been


driven by increases in the number of people in secure work – over 75% of the increase in employment over the past seven years has been in full-time work – according to the Department for Work and Pensions. There are now 338,000 more


people in work compared to this time last year, the Government said, with much of the increase


attributed to “workers recruited to higher-skilled positions”. But the figures are not


supported by data for the East Midlands where the number of people in work has fallen when compared to three months, a year and two years ago. Last month, the unemployment


rate for the region was 3.94%, well below the national figure of 4.5%. In the three months to the end of


June, the latest data available, unemployment in the East Midlands was 3.99% - still better than the national average of 4.4%, but the figures are closing. Employment in the region has


seen a decline, falling from 60.11% to 58.83% compared to three months ago – down from 2,280,213


at the end of March to 2,234,808 at the end of June. Scott Knowles, Chief Executive at


the Chamber, said: “These figures have not come as any great surprise but they do suggest that more needs to be done to aid job creation in the East Midlands, to encourage the creation of sustainable businesses and to help regional employers manage inflationary pressures. “This region has long been a


bellwether for UK plc - indeed it was described as such by the Governor of the Bank of England, Dr Mark Carney – and if the East Midlands is seeing a reversal of fortune today then there is a very serious threat that the rest of the country could suffer something similar tomorrow.”


Scott Knowles


‘These figures have not come as any great surprise but they do suggest that more needs to be done to aid job creation in the East Midlands’


business network September 2017 25


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