CBI urges tax cuts for trade

Julian Harris
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THE FAILURE to rebalance Britain’s economy towards greater exports must be tackled by providing tax breaks for small and medium enterprises (SMEs), the CBI will argue this morning.

The business lobby group also wants the government to provide finance to potential SME exporters through its business bank.

Exports from the UK were down 1.1 per cent between January and February, sending the trade deficit to a six-month high of £3.6bn.

Surprising parts of the UK’s regulatory code are also hampering exports. “Businesses tell us that they are being hamstrung by the sheer complexity and level of paperwork involved in complying with the Bribery Act,” the report said.