Shadow Trade Minister: The future of Britain’s steel industry is at risk if Liz Truss slashes tariffs In 1971, the UK’s steel manufacturing industry employed around 320,000 people. By 2016, just 24,000 worked in steel manufacturing – and that number is even lower today. The steel industry has been in decline ever since its peak in the 1970s. Despite its national strategic importance in supporting our nation’s defence and manufacturing sectors, not [...]
Liz Truss must keep import tariffs on steel – or risk losing the industry in the UK for good In decades past, import tariffs were regarded as nothing but a protectionist relic of resistance to free trade. But in recent years, those of us who believe in fair competition have had to learn that tariffs are an essential safeguard in a global trading system where some countries will not play by the rules. The [...]
With the CMA scrutinising the Big Four, can we still trust auditors? With the Competition and Markets Authority (CMA) scrutinising the Big Four, can we still trust auditors? Yes – Michael Izza is chief executive of the ICAEW. Every year, hundreds of thousands of audits are performed to the highest professional and ethical standards. Auditors underpin business confidence by providing independent verification that a company’s financial statements [...]
Theresa May’s government is failing to treat small businesses as partners October 24, 2016 Small businesses wait an average of 72 days to be paid, while a staggering £26 billion is owed in the private sector according to The Asset Based Finance Association and BACS respectively. And with cash flow being the main cause of business failure, it makes perfect sense for the British government to get serious about [...]