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Red tape, rising costs and regulation ‘holding back exports’

Tax burden rises following Autumn Statement

A survey of UK businesses carried out by the British Chambers of Commerce (BCC) has found that red tape, rising costs and increasing regulation are holding back exports.

According to 49% of firms polled, current customs checks and declarations present ‘barriers to exporting’. An additional 40% of businesses said taxes and duties are other areas of concern.

Regulation, such as product certification, causes problems for 38% of small firms, the BCC found.

William Bain, Head of Trade Policy at the BCC, said:

‘Our findings highlight the key priorities for business that could make a difference when it comes to UK trade negotiations and other related policy developments.

‘What they want to see are faster customs processes, removal of non-tariff regulatory barriers, tariff reductions where these could make a difference, fewer hoops to jump through and greater certainty.

‘With the UK government involved in trade negotiations with so many countries right now, including India, South Korea, Canada and Mexico, these findings are a timely reminder of the important issues.’

Reference: BCC website

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