MP: Government right to forge international trade deals
New research was published today which estimates that nearly 6.5 million British jobs are supported by exports. The research, commissioned by the Department for International Trade and carried out by the Fraser of Allander Institute at the University of Strathclyde, estimates that median wages in jobs directly and indirectly supported by exports were around 7% higher than the national median and that more jobs (3.7 million) are supported by exports to the rest of the world than to the EU (2.8 million). In addition, the Office for National Statistics estimates that goods-exporting businesses are 21% more productive than those which are not. Taken together, these estimates provide a clear rationale for pursuing an exports-led recovery from the pandemic and using trade liberalisation to boost industries.
John said,
“I welcome this new research, which confirms the Government is on the right lines as it forges trade deals across the world, boosting exports and thereby the wider economy. In Basildon & Billericay there are some 12,115 jobs (21.9% of the total employee count in the constituency) in export-intensive industries, underlining the importance of exports as well as the scope for greater growth in these industries.”
“I encourage businesses seeking to start or boost exporting to visit gov.uk/growbyexporting, to access further information and support.”
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