Business leaders demand more action to boost exports

Published on Friday 8 October 2010 15:38

BUSINESS leaders in the Capital have called on the Westminster Government to take action to improve the country's export performance.

In the Edinburgh Chamber of Commerce's official magazine, chief executive Ron Hewitt highlighted the country's export performance as an area that needs to be improved.

"The Prime Minister should lay out a vision for the UK to become a strong export economy and appoint a team to deliver that," he said.

He called on the Government to intervene more to ensure finance is available for exporting companies, as other countries do. He said that funding for the UK Trade & Investment body must be maintained, despite spending cuts. He also encouraged "low tax and low regulation" for manufacturing, including targeted incentives and allowances.

He said: "Service exports is a sector where the UK has a comparative advantage. It is the world's second-largest exporter of services behind the USA. The sector accounts for 76 per cent of GDP and 80 per cent of all employment.

"The Government should work with the UK-wide chamber networks to better explain, support and promote more UK service exports, as in Scotland, where Scottish Chambers International works closely with Scottish companies."