THE TARGET to double exports to £1 trillion per year may not be being taken seriously by the government, an influential committee of MPs warned today.
As part of its bid to rebalance the British economy away from domestic consumption, the government has increased support for business exports.
But the Business, Innovation and Skills Committee of MPs fear there is a high chance the target is aspirational and won’t be achieved.
“We welcome the government’s ambition for UK exports to reach £1 trillion by 2020,” said the committee’s report. “However, we are not convinced that this is a target the government expects to meet. The government should provide clarity about whether this is an “energising aspiration” or a serious objective.”
In evidence sessions ministers and UK Trade and Industry insisted they were working to unite departments around the goal.