Day: May 9, 2018

World-class export finance offer

Speaking at today’s (Wednesday 9 May) UK Trade and Export Finance Forum, Minister of State for Trade and Export Promotion, Baroness Fairhead set out the government’s plans to put a world-class export finance offer at the heart of UK trade through UK Export Finance (UKEF).

Ahead of the publication of the Export Strategy, which will outline the government’s vision to boost UK exports, Baroness Fairhead pledged to help more UK businesses access UKEF-backed finance, particularly SMEs and companies that supply to exporters but do not yet export themselves, in order to grow their business.

Baroness Fairhead, Minister of State for Trade and Export Promotion, said:

In UKEF, the UK’s exporters have a world-class export credit agency that can provide innovative, flexible finance and insurance to help them realise their full exporting potential.

Our Export Strategy will specifically aim to make more businesses aware of UKEF’s products and services, helping them to access new opportunities overseas and grow their businesses through exporting.

The draw of UKEF support

Baroness Fairhead also announced the government’s ambitions to generate more business for UK companies through UKEF. Using the draw of UKEF support for major international projects, the government will significantly increase the contribution of UK goods and services suppliers to major projects around the world – an approach that is already creating hundreds of millions of pounds of opportunities for UK exporters.

Baroness Fairhead committed to a review of UKEF’s product suite, to ensure UKEF’s support remains comprehensive and relevant to market needs.

Baroness Fairhead said:

That’s my call to you today. We want to build our Export Strategy with you; and together with you, we can build a nation of exporters.

Baroness Fairhead spoke at the day-long forum, following a speech from International Trade Secretary, Dr Liam Fox MP, who earlier announced an agreement between UKEF and Atkins International, a world-leader in international project management and engineering projects, to grow its UK supply chain and boost UK exports, as well as UKEF support for the Dubai World Trade Centre.

The event included talks and panel discussions from John Mahon, the newly-appointed Director General for Exports at the Department for International Trade; Antonia Romeo, Permanent Secretary of the Department for International Trade; Louis Taylor, CEO of UK Export Finance; Baroness Northover, HM Trade Envoy for Angola and Zambia; and Baroness Nicholson, HM Trade Envoy for Iraq, Kazakhstan and Turkmenistan; senior representatives from multinational companies General Electric and Bechtel; and the CEO of Scottish bus manufacturer and major UK exporter Alexander Dennis.

The Export Strategy will build on the government’s Industrial Strategy, published last November, which set out a long-term plan to boost the productivity and earning power of people throughout the UK.

Background

This year UKEF has increased – and in many cases, doubled – its financial capacity to support exports to over 100 markets around the world, as the UK seeks to enforce its position as a leading player in the global market, and make world-leading UK expertise, products and services accessible to buyers around the world.

In 2017, UKEF was awarded ‘best export credit agency’ by Global Trade Review and Trade Finance magazines.

With research showing road surface quality continues to be an area of concern with drivers, Highways England is committed to improving journeys. The company has signed up 11 firms who can be called upon when there is a need to resurface roads. The deal could see the company spend up to £3.3 billion if it was required.

Highways England’s Executive Director of Operations Nick Harris said:

We know that drivers want and deserve good quality, safe roads which is why since 2015 when Highways England was created we have replaced more than 4,400 miles of road surface.

This new arrangement will help us tackle uneven road surfaces faster, in a more cost effective and efficient way – keeping journeys safer and offering smoother journeys for the millions of drivers who use our roads every day.

It means that, over the next 4 years, Highways England can award contracts to address poor road surfaces across England’s motorway and major A roads without having to go through lengthy bidding processes to get the work done.

The framework arrangement also enables local authorities to utilise the services of the contractors, facilitating greater collaboration.

General enquiries

Members of the public should contact the Highways England customer contact centre on 0300 123 5000.

Media enquiries

Journalists should contact the Highways England press office on 0844 693 1448 and use the menu to speak to the most appropriate press officer.

In the last week alone, nearly 20,000 responses were submitted to the ‘Health & Harmony’ consultation which closed on Tuesday 8 May, with farmers, food producers and environmentalists sharing their views on everything from the support we give to farmers and food producers to the broader direction of policy post-Brexit when it comes to the natural world.

Throughout the 10 week consultation, Defra hosted 17 events across the country alongside groups including the National Trust, NFU and the Eden Project, to hear first-hand from more than 1,250 representatives of the UK’s food and farming sectors.

The Environment Secretary Michael Gove said:

It’s great news that so many people have responded so enthusiastically to our consultation. Leaving the European Union gives us the opportunity to improve the support we give to Britain’s farmers. We can make farming more productive, improve the quality of the food we eat and enhance our natural environment. We’ll reflect on the many thoughtful ideas put forward in response to our consultation and bring forward our plans for legislation later this year.

The consultation included proposals to redirect payments under the Common Agriculture Policy (CAP) which are based on the amount of land farmed, to a new system of paying farmers public money for public goods, principally their work to enhance the environment. It highlighted a number of public goods which could be supported such as biodiversity, high animal welfare standards and improved soil health.

A recent WWF poll, undertaken by Populus, found that 91 per cent of the UK public want to see farmers paid to protect nature.

Responses to the consultation will now be analysed carefully and the Government will publish a response shortly.