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- BCC comments on start of formal UK/US trade negotiations
Commenting on the news that the UK and US are to open formal negotiations on a future free trade agreement, BCC Director General Adam Marshall, said: “While most UK businesses will be focusing on the immediate challenge posed by Coronavirus, strong trading arrangements with both the European Union and USA will support recovery and future growth. “The government has set a high ambition for UK-US talks, and it will be particularly important to get the details right over the coming months to ensure that any prospective agreement delivers tangible benefits to businesses and communities across the UK. “Companies will welcome the focus on helping more UK SMEs grow their trade with partners in the US, and on finding ways to move goods, people and data across borders between the two countries more smoothly. “We will be working constructively with the Government to ensure the needs of UK business communities are considered in negotiations with the USA and with other key trading partners.” For more information regarding the UK/US Trade Negotiations, please visit the Government page here
- Coronavirus Business Impact
The British Chambers of Commerce's new tracker serves as a barometer of business’ response to the government’s measures and changes to business’ working practices over the next few months. It also track how quickly new government interventions, introduced to deal with the real-world impact of this crisis, are getting to the businesses at the front line. To review the weekly results, please click here Additionally, GM Chamber has also launched a weekly Business Monitor aimed at tracking the economic activity of the city as a response to the COVID-19 crisis. For more information and check the latest reports, please click here
- GM CHAMBER POSITION ON COVID-19 OUTBREAK as of 18th March 2020
Over the last few days the speed and scale of the situation we all find ourselves in has caught many off guard. Confident that we are doing all we can from a health perspective we are increasingly focussed now on making sure our members and the wider business community gets the help, support and assistance it needs. It is vital that the economic impact of the outbreak is minimised as much as possible and whilst things will be tough it’s vital that adequate support – primarily financial – is there to remove unnecessary worries. On Tuesday the Chancellor Rishi Sunak basically ripped up his Budget - launched the previous week and unveiled a "whatever it takes" approach to tackling a threat that has grown to alarming and damaging proportions. Amongst the new help were: £330Bn guaranteed loan fund - up from £15Bn announced in the Budget - for businesses to access from next week. An extension of the 12 months Business Rates holiday to all hospitality sector businesses and new grants of £10k to £25k to small businesses - up from the previous figure of £3k. We are expecting more announcements over the coming days focussed on what many businesses see as their main priorities of staying afloat, paying staff and paying bills. We continue to follow official UK government and Public Health England advice around personal hygiene and hand cleaning and are continuing to closely monitor developments, review our current response and will act on any further relevant advice as appropriate. These are concerning times and in addition to health considerations we are in constant contact with British Chambers of Commerce who are having regular meetings with government ministers and departments to keep on top of the economic impact of this outbreak. We will be using all our communication channels to keep members updated on the latest advice and guidance. We shall update this page and publish any corresponding statements as this rapidly changing situation requires. If you need to contact the Chamber please call on 0161 393 4321 or email benefits@gmchamber.co.uk To keep in touch with all the latest news and developments follow us on our social media channels and visit our dedicated page. CHANGES TO THE EXPORT DOCUMENTATION & INTERNATIONAL TRADE DEPARTMENT IN RESPONSE TO THE COVID-19 CORONAVIRUS GM Chamber remains committed to continue assisting our members and customers accessing our international trade and export documentation services during these difficult times. However in light of what is a rapidly changing set of circumstances and in order to maintain continuity of our services, we are introducing some changes - read more. HELP AND SUPPORT We recommend businesses and individuals access the most relevant, accurate and up to date information on the main government websites below: Full official advice can be found at https://www.nhs.uk/conditions/coronavirus-covid-19/ Full information about the government response and guidance for businesses and staff can be found at https://www.gov.uk/government/topical-events/coronavirus-covid-19-uk-government-response British Chambers of Commerce is having twice-weekly calls with the Business Secretary to assess the impact on businesses and has launched a website to assist the wider Chamber network. If you are a Chamber Member and have any HR or Health & Safety concerns or queries about the impact of Coronavirus you can take advantage of the services provided by QUEST as part of your membership. Call our membership team for the advice line number on 0161 393 4321. LATEST NEWS: Statement re 2020 Annual Business Dinner – 12th March 2020 ALL GM CHAMBER EVENTS UP TO 15TH APRIL HAVE BEEN CANCELLED OR POSTPONED. LOOK OUT FOR ANNOUNCEMENTS ON EVENTS AFTER THIS DATE AS PART OF OUR NEWS AND UPDATES. Follow us on social media: @gmchamber @GMCCTradeteam or if you are interested in getting our bi-weekly newsletter, please email us at ExportBritain@gmchamber.co.uk.
- UK Government Consultation on Freeports
As the UK government continues working towards boosting the UK Economy now we have left the EU, it has now launched a new consultation on freeports policy. The government is seeking to create 10 freeports in locations across the UK which will have different customs rules that the rest of the country and are set to become innovative hubs that will promote trade, inward investment, increase productivity as well as safeguard and generate employment in some of the most deprived areas of the UK. This is a great opportunity for companies and business associations to help shape the future of the country’s trade relationship with the world. For more information and submit your feedback, please visit: https://www.gov.uk/government/consultations/freeports-consultation. The consultation will close on 20th April at 11:59 p.m. If you wish to submit your feedback as part of the Chamber’s response to this initiative, please email us at exportbritain@gmchamber.co.uk
- HMRC Extends Customs Declaration Grant
HM Revenue and Customs has extended the deadline for businesses to apply for customs support funding to 31 January 2021. The scheme, first announced in September 2019, had been due to close on 31 January 2020. To date, applications have been made for around £18.5 million out of a possible £26 million – meaning there is at least £7.5 million left to claim from HMRC. As well as supporting recruitment and improved IT capability, the money applied for so far could potentially fund nearly 15,000 training courses to help traders submit customs declarations. Greater Manchester Chamber of Commerce runs several training courses throughout the year which are eligible for the funding. In addition, the Chamber is also able to process import and export customs declarations for businesses. To find out more about either of these services, please contact the International Trade team at exportbritain@gmchamber.co.uk.
- UK Global Tariffs Public Consultation - Have your say!
GM CHAMBER CALLS MEMBERS TO FEED INTO THE FIRST UK GLOBAL TARIFF CONSULTATION!!!! The UK left the European Union on 31 January 2020. For the first time in almost fifty years the UK is free to set its tariff rates on imported goods. To inform the development of the new UK Global Tariff, the Government has launched a four-week and is seeking your views. The consultation began on 6 February 2020 and closes on 5 March 2020 at 23:59 GMT. This consultation seeks: • views on a potential series of amendments to the EU’s Common External Tariff to create a bespoke UK tariff regime; • specific feedback on individual products or commodity codes of importance to you (including the corresponding tariff rate); and • information on your interactions with Most Favoured Nation tariffs and the importance of tariffs to sectors that are relevant to you. The bespoke UK tariff regime will enter into force on 1 January 2021 and replace the EU’s Common External Tariff. To take part in the consultation and have your say on the new UK Global Tariff, please click here or alternatively, also feed your views to exportbritain@gmchamber.co.uk The Chamber will also be asking members throughout key relevant events to feedback, so ensure your views are fed so we can ensure Government is aware of these whilst negotiation new Trade Agreements. This is pivotal time in our history, and your views will help shaping the future of our trade relationship with the world.
- BCC comments on UK's official departure from the EU
As the UK marks its official departure from the European Union, and the start of an 11-month transition period, Dr Adam Marshall, Director General of the British Chambers of Commerce, said: “In our business communities, this historic moment will bring a mixture of regret for some and celebration for others – but this is just the end of the beginning, not the beginning of the end. “Decisions made during the next phase of negotiations will influence the business environment for decades to come. Businesses are likely to face significant changes in the way they trade, both in Europe and across the world. The government must clearly communicate what those changes will be – and provide timely guidance and support to help firms adapt and make the most of new opportunities as Britain sets its own trading polices. “Our business communities are pragmatic and want to move on from the emotional arguments around Brexit that have stymied confidence and investment for so long. They want to work with ministers to get the details right on issues like customs, regulation and immigration – and they are desperate to avoid more of the cliff-edges that have affected their operations in recent years. “On the domestic front, spades in the ground for new infrastructure, better skills and training, and action to lower the up-front costs facing UK businesses are urgently needed to boost confidence and unlock investment.” Businesses seeking to keep up with the preparations during the transition period, can check the latest BCC's Brexit Transition check list here
- Leaving the EU: What Today Means For Businesses
Today, January 31st 2020, the UK will officially leave the EU. This broad statement can seem overwhelming at first glance - for businesses, and those employed by them, clarification is crucial. In short, changes immediately after today that effect businesses are minimal. It is 'business as usual' up until 31st December 2020. For those business currently trading with the EU, trade will continue as normal up until the transition period ends this December. So businesses, should not worry about what will happen on February the 1st, instead we advise that business turn to focus on forward planning for 1st January 2021. Some key things to plan for 2021 include: - Customs Declarations: who will you use to complete them? -UK Certificates of Origin: these will be used in place of EC Certificates of Origin for countries where the UK will have a trade agreement. - Evaluate your supply chain: if you are using EU parts or processing products in the EU it is worth researching export and import procedures The International Trade Team at Greater Manchester can help with the above and more, please email exportbritain@gmchamber.co.uk for more information.
- Brexit Update: Preference Documentation & UK Certificates of Origin Roll Out
When the UK leaves the EU on the 31st of January, it is likely that the UK will enter a transition period. The British Chambers of Commerce have issued confirmation from the Department of International Trade regarding the issue of EU preference documentation, and when companies can expect to start using UK Certificates of Origin in their place. EC Certificates of Origin will continue to be issued throughout any transition period until the transition period ends, which is currently scheduled for the 31st of December 2020. During this time, the UK government has requested that preference documents will continue to be accepted by countries that the EU currently has trade agreements with. The UK Government have intimated their position to the EU and expect that the EU will communicate this to EU member states and to countries the EU has trade agreements with once the Withdrawal Agreement has been approved. Chambers of Commerce across the country, including Greater Manchester Chamber, have been advised to start issuing UK Certificates of Origin on and after 1st January 2021. Please email exportdocs@gmchamber.co.uk for further export documentation information.
- BCC responds to Chancellor’s comments on post-Brexit regulation
Responding to the Chancellor’s comment that there will be no regulatory alignment with the EU after Brexit, reported in an interview with the Financial Times today, BCC Co-Executive Director Claire Walker said: “Our business communities have differing views but are prepared to be pragmatic about coming changes to regulation. Uncertainty around the extent of divergence risks firms moving their production elsewhere. “The government must clearly communicate these changes in a timely way and provide substantial support to help firms adapt. Otherwise they will struggle to make the most of new opportunities as Britain sets its own trading polices.”
- BCC comments on the second reading of the Withdrawal Agreement Bill
“An end to the deadlock in Westminster will provide some relief for business– but it’s just the first step down a long road for our business communities.Getting the detail of Brexit right is far more important than simply getting it done. “Unless a comprehensive UK-EU trade agreement is in place by the end of next year, businesses could once again face a cliff-edge – and seismic changes to trading conditions equivalent to a no-deal exit. “Ministers must urgently consult businesses communities throughout the UK and British firms operating in Europe, to ensure that the new relationship meets real-world needs rather than short-term political objectives. "They must also provide answers on what additional procedures – and therefore costs – businesses could face when trading between Great Britain and Northern Ireland, particularly in the unwelcome event that a new agreement cannot be reached in the next 12 months. “Getting the next stage of Brexit right requires a real partnership with business. Confidence, investment and the prosperity of many parts of the United Kingdom depend on getting the details right in the New Year.” Check the Withdrawal Bill here: https://www.gov.uk/government/publications/eu-withdrawal-agreement-bill
- Brexit Past, Present and Future
Our Director of Policy and Marketing speaks to our most recent Chamber's Presidents about one of the most important issues of our history: Brexit! There’s been very few long-running issues like Brexit that have seemed to have developed a life of their own and which have completely dominated not just the business environment but, it seems, everything that we do. Since the EU Referendum in June 2016 the Chamber has had three Presidents, Wayne Jones OBE, Jane Boardman and, newly-elected in October this year, Robin Phillips. So, recognising the time of year and trying my best to channel Charles Dickens in the spirit of “A Christmas Carol” I took on the role of Scrooge and took the opportunity with our Presidents to revisit Brexit past, look at Brexit present and see if we could work out Brexit future…… First up was Wayne Jones OBE, who not only had the referendum in his term but two general elections and a mayoral election…never a dull moment! “My Presidency was eventful for many reasons but of course the decision on 23 June 2016 to leave the EU after forty-three years will be remembered for a lifetime. After the shock of the decision where 52% of the 30 million people voted in favour of leaving, which is around one quarter of our population, we were in a new chapter of our political history. Looking back, I think it is quite honestly the worst example of campaigning for both Remain and Leave that we have ever seen, people had limited information on which way to vote and immigration seemed to be at the forefront of all major debates. Brexit is much more than immigration. “The topic was a major focus at the Chamber Assembly meetings where we tried to guide our membership on what could happen next, but looking back, we never had a chance to predict the drama over the forthcoming years! At this time we had lively debates as the topic was critical to the business community and like nothing we had ever encountered before. In the EU, we benefit from the free movement of goods, capital and human resources across the 28 member states. The key questions then were how will this change, when will this change and what is the economic impact of the change? More than three years later, are we any wiser? “From my perspective as a previous GMCC President and an Executive Board Member of MAN Energy Solutions, part of the VW Group, it remains to be seen the true impact of this decision on our economy, our culture and our society. One thing is for sure, we will continue to hear about it and it will have an impact on the entire world and our future generations.” Succeeding Wayne was Jane Boardman from Deloitte who took over as President in October 2017 and even then the fatigue was starting to set in….. “When I stepped into the (very big) shoes of Wayne Jones to take over as GMCC President in 2017, in the wake of the EU referendum, a new Prime Minister in Teresa May, and a general election resulting in the Tory tie-up with the DUP, Wayne and I joked about how he’d presided over all the fun and it would be plain sailing for me with just the small matter of ‘the easiest negotiation in the human history’ (per Liam Fox), the Brexit withdrawal agreement, to be finalised. “At that point the Chamber Assembly was already starting to tire of Brexit discussions, and we made a conscious decision, as the delays and extensions continued, to put Brexit on the back burner and focus on things that we could affect, things that were impacting on GM businesses, and that devolution was giving us increased ability to influence and change. Transport, Skills, Environment…all topics that we have debated at length at Assembly in the last 12 months, all critical to the effective functioning of business and community, all currently playing second fiddle in Whitehall to the ongoing Brexit posturing of senior politicians. “Well I for one am incredibly pleased and proud that here at GMCC we haven’t let Brexit distract us. We have lobbied for, and driven, change in the apprenticeship levy. We are building a skills strategy for GM. We have provided valuable input into the integrated transport plans for GM. And we have kept Brexit in our peripheral vision, making sure that the voices of GM businesses are heard over the parliamentary hubbub. “Who knows when Brexit will happen, and what withdrawal, let alone ongoing trade agreements will look like. Maybe Robin will be shaking his head, handing over to his successor, still wondering…let’s hope not. One thing I’ve learned in my career so far is that uncertainty is not good for business.” Finally and the Chamber’s most recent President, Robin Phillips of Siemens who had to face a very quick change of direction away from Brexit (for now) and into full-on election mode. “In line with how the whole Brexit issue has played out so far within two weeks of my election as President, the country wasn’t gripped in the aftermath of leaving the EU but instead found itself gearing up for a General Election. Nothing like being thrown in at the deep end. Looking back now, maybe Jane did have the less turbulent term of office? Only time will tell. “There’s no doubt that Brexit will continue to loom large over the coming weeks but it is important that we use this opportunity to bring forward the work done by Jane and Wayne, and which I fully intend to continue, in setting out and getting clarity over those domestic issues that impact on everyday business and that have been relegated to the background over the last three years. “In a way the path we’ve taken at Assembly over the last few years and the actions we’ve done almost synchronise with what has actually played out in real life. Starting off with high hopes and interest in Brexit, a dawning realisation that things may take longer than thought, concern that domestic issues were being increasingly ignored and a switch in priorities to put the day to day business issues above the quagmire of Brexit. We probably are in the best prepared position for a number of years for knowing what our members want and what we will be asking for from whoever forms the next government. “So whilst the next few months will be interesting and challenging – don’t forget Brexit still needs sorting out - and with the GM mayoral elections in May, at all levels of politics the need to get the views of business across is more important than ever and, come what may, I’m proud to be President of the Chamber and look forward to whatever lies ahead!” So three years and three Presidents later, it still doesn’t feel like any end is in sight. If, as they say, a week is a long time in politics – three years and six months of Brexit is starting to feel like an eternity. In the real Christmas Carol at least old Scrooge had the salvation of waking up on Christmas Day and all his worries were resolved. Oh for such a simple solution.
- Chamber Wins Excellence in International Trade Award
Greater Manchester Chamber of Commerce celebrated a winning evening on Thursday at the British Chambers of Commerce national awards in London. The Chamber won the Excellence in International Trade award for the second year in a row after facing stiff competition from the 52 other accredited chambers in the UK network. It was also a great evening for Chamber member business Fractory Ltd who won the national award for Best Use of Technology. Find out more about Fractory here. Susana Córdoba, Head of International Trade at Greater Manchester Chamber, said: “We are thrilled to have won the Excellence in International Trade award for the second year on the run. With the focus so much on Brexit it’s crucial that the day to day work we deliver at the Chamber remains the very best for our members and others. In addition we have expanded our work in supporting overseas delegations, access to overseas markets and also played a leading role in the development of new services to help and assist businesses trading overseas. Trade is a key part of what Chambers do and this award reflects our approach to this in Greater Manchester.” Commenting on the win for Chamber member Fractory Ltd, Stella Bowdell, Director of Membership at the Chamber, said: “This is a great win for Fractory as a panel of judges have identified what they do as being the very best in the UK and against very stiff competition from right across the country. It’s a great example of the strength of real business in this country and also of the diverse nature of the Greater Manchester economy.”
- Invest in training for specialist logistics roles
Brexit could lead to tighter migration controls which would have a significant impact on road haulage as the sector relies heavily on drivers from the EU. Recruitment of drivers is going to get harder for logistics companies and we can expect to see fewer applicants for vacancies. There will no doubt be a shift towards training of UK employees in driving skills and we are encouraging our members to explore training options. Fewer drivers is a concern but what about the other specialist roles across logistics that are proving just as hard to fill? Even before we leave the EU, the Brexit threat is causing recruitment issues with the Freight Trade Association reporting in its Logistics Skills Report 2019, a 43% rise in job vacancies in the transport and storage industry over the last two years. Now more than ever, logistics companies need a broader, more professional skillset across their workforce with demand for expertise in customs tariffs and systems. Whilst some services such as customs declarations can be outsourced, it is sensible for companies to consider upskilling its existing employees to prepare for the demands of Brexit. Stockpiling continues to increase as companies mitigate the risks of Brexit ahead of the busiest time of year with Black Friday and Christmas. Warehouse space is at a premium and there is increasing demand for staff to manage this storage. For warehouse operators, there is a growing concern that there might not be enough skilled workers to meet this demand. The Greater Manchester Chamber of Commerce is driving an ambitious skills agenda across the region and can offer guidance to logistics companies on demonstrating aspirational career paths for employees, apprenticeships and signpost to training and vocational courses. Visit www.gmccbrexithub.com for more information or get in touch with our International Trade team via exportbritain@gmchamber.co.uk.
- General Elections 2019
The British Chambers of Commerce has launched its 2020 and Beyond: Business Priorities for the next UK government outlining the key business priorities for the future UK government, developed with the 53 accredited Chambers of Commerce across the UK and the BCC’s growing global network. It sets out the key priorities that would enable businesses of all sizes to reignite the country’s stagnating economy. The BCC’s key business priorities for the next administration centre around: People Business Investment and costs Infrastructure International trade Check out the full downloadable report here
- Brexit: Delay, Debate and Election Deliberation
The first half of the week has seen yet more Brexit developments and delays within government and, with a December election planned, the rest of the year seems equally as tumultuous. One element of uncertainty has been clarified - markets will no longer be ‘spooked’ by a Halloween EU exit on Thursday the 31st of October. The EU has given Johnson’s government until January 31st to leave the EU. The government’s focus has been turned toward a general election – it is no secret that Johnson has been keen to get the ball rolling for a general election for quite some time, and Labour leader Jeremy Corbyn has also stated that he wanted an election too. However, with Labour abstaining from Monday’s vote on a 12th December election date, and finally agreeing to an election yesterday (29th October), this week has been no walk in the park for Prime Minister Johnson. What does this mean for sterling in global markets? A significant development is that there will be no Brexit developments worth seriously considering until the outcomes of a December election are known. Therefore, for the near future, Brexit volatility will likely affect the pound less. Historically, the pound has under-performed in the run up to an election and the prospect of a hard-left Labour government doesn’t inspire the markets toward optimism either. So, it is expected that there may be some more dips in store for sterling around the election period. So whilst Brexit uncertainty fades for the short term, the pound will become more responsive to shifts in polling data and election news ahead of and after a Christmastime election. To find out more about how your business can mitigate global currency risks and predict how your profit and revenue will be affected if you use the EURO – use our currency calculator here.
- Brexit Extension approved by EU
The EU has now officially granted another extension to the UK for Brexit till 31st January 2020. Although, EU Council President Donald Tusk said what was being offered was a "flextension" - meaning the UK could leave before the deadline if a deal was approved by Parliament, according to the BBC. Whilst there is frustration from yet another extension and a lack of clarity still on a number of issues affecting businesses once we leave the EU, with or without a deal. UK companies should still continue preparing for whatever scenario and avoid opting for a 'Wait and See' approach. The 'deal' agreed in principle is an important stepping-stone for the on-going negotiations. However it remains high-level, and businesses still need clarity on a practical level on how this deal, or no-deal, will impact their day to day operations. GM Chamber continues to provide support to businesses, and we encourage you to make the most of the free resources and preparation tools we have available. From our free online readiness assessments and currency impact calculator to accessing our free eGuides or accessing expert advice on tariffs, customs declarations and rules of origin, just to mention but a few, we are here to help. We also want to hear from businesses out there what difficulties they are facing in preparing for Brexit, and how Brexit is impacting them already. Use our contact form on this site to submit your concerns, questions and anything you need support with.
- Brexit Guidance Update for EU businesses
HM Government has updated the guidance aimed at EU businesses not established in the UK and wish to continue trading both goods and services with the UK. Whilst the EU and UK have seemed to have reached an agreement in principle, this has yet to be rectified by both parties, and thus, if the withdrawal agreement is not signed by the 31st October, the UK could still be leaving the EU without a deal. The guidance provided for EU businesses is to be applied in the event of a No-deal and covers a wide range of key areas: Getting goods through customs Import VAT on parcels Changes to VAT IT systems Providing services Transferring personal data Selling manufactured goods Employing UK nationals Sending workers to the UK For More information, visit: https://www.gov.uk/guidance/trading-with-the-uk-as-an-eu-business-after-brexit
- Not-So-Super Saturday and Sterling's Reaction
Sterling remains tied to the drama of parliament following this weekends, somewhat anti-climactic, events. News outlets and political experts were predicting a ‘Super-Saturday’, as parliament sat on a weekend for the first time in 37 years. There was an expectation that MPs would vote on Boris Johnson’s new deal. However, MPs were able to table amendments since Thursday night after the PM released the 500-page document outlining the new deal. It was one of these amendments which caused Johnson’s government the greatest snag, effectively halting Saturday’s proceedings and throwing out the chance for MPs to agree on Johnson’s new deal. A conservative MP, Oliver Letwin, tabled the motion that the "meaningful vote" needed to approve Mr Johnson's Brexit deal can only happen once the legislation required to leave the EU - the Withdrawal Agreement Bill - has passed through parliament. The PM was left with no option but to ask the EU for a further extension to Brexit, and it remains up in the air if he will do this or try and skirt the law to ensure his government achieves a 31st October Brexit date. So, what does all this mean for sterling activity? A no-deal Brexit is now off the table, at least for the short-term. For sterling these events are good news, and as such it would now appear that it could stay supported for a time. However, reports on the new withdrawal agreement and what type of trade deal PM Johnson wants to agree with the EU post-Brexit suggest that any UK-EU trade agreement will not be a Canada plus deal. It will rather be a Canada minus deal, and as such this will be harder for the UK economy to cope with. Ominously, cycles analysis considers that the next short-term cycle peak is expected between October 28th and November 3rd. It suggests that the latest probabilities are 10% for a no-deal Brexit, 60% for an extension to article 50 and 30% for a deal. Sterling slipped slightly in reaction to Saturday’s proceedings, as traders can expect more uncertainty over the coming week. Although the market remains nervous, the reduction of no-deal is generally welcomed as this put Britain in a stronger economic position than the alternative. If your company is exposed to foreign markets, or the volatility of sterling, you can take steps to manage risk by hedging funds or spotting to reduce the impact of further risk later. If you are interested in how your business’ revenue and profit may be affected by Brexit take a look at our new currency calculator. Our Chamber strategic partner, AFEX, are also available for members who wish to explore how they can manage their FX risk – email us at exportbritain@gmchamber.co.uk for more information.
- Contracts awarded to deliver urgent medicines into UK after Brexit
Contracts have been awarded to UPS, DFDS and Biocair for the Department of Health and Social Care’s express freight service. The new service will help to ensure that patients and care providers have access to medicines and medical products after Brexit. The £25 million service was first announced by Health Secretary Matt Hancock in August. It means that vital medicines and medical products can be transported from the location they are produced to the point they are needed within 24 to 48 hours, to meet any urgent needs that might arise. The service provides access to specialised express logistics networks that can move the wide range of medicines, devices and products required for the delivery of safe, high-quality care for patients across the UK. The NHS will have access to: next-day delivery on small consignments, including temperature-controlled or hazardous products 48-hour delivery for larger loads specialist services, including hand-delivered courier services if needed The 3 providers have extensive experience of operating logistics networks serving Europe and the UK using a mixture of air and road transport to support the express movement of products. The express freight service will support existing plans already in place, including: building buffer stocks of medicines and medical products changing or clarifying regulatory requirements so that companies can continue to sell their products in the UK if we leave the EU without a deal strengthening the process and resources used to deal with shortages procurement of additional warehouse capacity supporting companies to improve the readiness of their logistics and supply chains to meet the new customs and border requirements for both import and export To read more, please visit: https://www.gov.uk/government/news/contracts-awarded-to-deliver-urgent-medicines-into-uk-after-brexit