Chartered Institute director general responds to chancellor's speech

Chancellor John Healey made his first major speech in the role today, focusing on what needs to be done in order to achieve growth and share prosperity across the UK's nations and regions. Reacting to the speech, Chartered Institute of Export & International Trade director general Marco Forgione said: "The Chancellor is right to place growth, investment and exports at the heart of the UK's economic strategy. "Growth becomes real for communities when local businesses secure new customers, enter new markets and create well-paid jobs, so it is encouraging to hear exports recognised as a key driver of prosperity. "Initiatives such as the British Business Bank's support for northern scale-ups and the Northern 500 programme have the potential to help businesses grow and compete internationally. "But growth will only be achieved if businesses have the confidence to invest and trade. Recent challenges facing major employers such as Jaguar Land Rover underline the difficult environment many companies are navigating. "The Government's focus on acting in partnership with business, promoting British exports and devolving greater economic powers to the regions is welcome, but these ambitions must be matched by practical measures that reduce barriers to trade, improve productivity and help businesses take full advantage of the UK's trade agreements. "If we can unlock the latent potential the Chancellor spoke of, exporting businesses across the country can play a central role in driving sustainable economic growth."