BCC calls for export-led recovery

The British government needs to do address problems surrounding export trade finances so as to boost UK exports.

That is according to the British Chambers of Commerce (BCC), which has argued that British companies are currently at a disadvantage as they struggle to obtain export trade finance.

Of those exporting businesses polled by the BCC, nearly half have faced problems and even lost work to rivals based in countries with state-supported export finance schemes, such as Germany and UK.

The government is now being urged to help exporters obtain the finances they need to help drive the UK economy forward.

David Frost, director general at the BCC, stated: "If the government is serious about encouraging British exports as a driver of employment, economic growth and prosperity, it must resolve blockages in the finance that underpins UK global trade.

"Our exporters need to be able to compete more effectively with rivals on the Continent and further afield."

Meanwhile, the Office for National Statistics (ONS) has reported that falling exports have caused the UK's trade gap with the rest of the world grow to be the widest it has been since August 2008.