The government’s commitment to help boost exports, unveiled in today’s Budget speech, has been welcomed by Marco Forgione, director general of the Institute of Export & International Trade.

New Chancellor Rishi Sunak’s first budget speech focused heavily on remedies for businesses and people impacted by the Coronavirus.

However, he also outlined measures to encourage export as part of the Conservative government’s “plan for prosperity”.

Director General Marco Forgione said:

“We congratulate the Chancellor for recognising the importance of export to the government’s vision of ‘a low tax, high growth economy’.

“The speech’s five specific references to exporting were about supporting UK business to trade overseas.

Financial pledge

“In particular, we welcome the pledge to financial help through £5bn of new exports loans for businesses and the appointment of dedicated regional trade envoys in embassies round the world.

“As we requested in our letter to the Chancellor ahead of the Budget, a key issue for businesses looking to export is having a point of contact in the geographical markets they are seeking to target.

“It is the Institute’s hope that the Chancellor’s agreement that businesses “need support to start up, grow and export” will encourage the further extension of the export training grants beyond January 2021.”