Last month the Chancellor of the Exchequer, Philip Hammond MP delivered his Budget outlining a number of key measures for the Aerospace, Defence, Security and Space sectors.
One of the key themes of the Budget was around global Britain and promoting the business of the UK overseas with measures to support exports. In the Budget, the Chancellor announced:
- An additional £2 billion for UK Export Finance (UKEF’s) direct lending for overseas buyers of British goods and services
- £5 million will be made available to the Department for International Trade (DIT)
- Nationals from Australia, Canada, Japan, New Zealand and the United States will be able to use eGates at the UK border
- HMRC will halve the time it takes companies to become Trusted Customs Traders from 120 to 60 days
Building on the publication of the Export Strategy earlier this summer, which has important close links with the Industrial Strategy, these announcements are positive news for business. As the UK prepares to leave the European Union and grow its European network, these measures will help exporters succeed in the global marketplace and attract investment.
ADS plays an important role in promoting the innovative and creative technology that the UK produces and will continue to work with the Department for International Trade to drive the UK’s growth and prosperity.
Just last week ADS hosted the UK Pavilion at the Bahrain International Airshow, allowing companies of all sizes to showcase their products and services to high level delegations and over 30,000 trade visitors.
Inward investment and exports are incredibly important for the highly competitive and world-leading Aerospace, Defence, Security and Space sectors. ADS will continue to work with UK Government to support growth, secure investment and enhance competitiveness, as well as positioning the UK as a world-leader in innovation to foster this growth and create export opportunities.