Page 21 - BOSS Today Issue 60

BOSS Today #60

Post-Brexit Trade
Labour’s manifesto promises to ‘reset
the relationship and deepen ties’ with
Europe, but clearly states that ‘there
will be no return to the single market,
the customs union, or freedom of
movement.’ However, in an interview with
the Financial Times a few days after the
manifesto’s publication, now-Chancellor
Rachel Reeves added some insight to
the ‘reset’, suggesting that a Labour
Government would place less insistence
on regulatory divergence and approach
relations with a less adversarial attitude
than the previous Government. On
Saturday 6 July, Foreign Secretary David
Lammy was already on a flight to Berlin
to “start reconnecting with the world”, as
he told reporters. It is not yet clear how
this might translate into the removal of
non-tarriff barriers, not least paperworks
and checks, outside of agri-food and
touring musicians.

Further Business Proposals
n Late payment: Labour has promised
to ‘take action on late payments to
ensure small businesses and the self-
employed are paid on time’, although it
is not yet clear what form that action
will take, following years of successive
tweaks from the Conservatives.
However, this vagueness leaves some
scope for input, and no doubt there
will be another consultation.
n Access to finance: Labour has
promised a reform of the British
Business Bank, setting additional
KPIs for its regional funds to ensure
that they are providing access to SME A Labour Government
financing. would place less
n Local Growth Plans: The manifesto
promises a new statutory requirement insistence on
for Local Growth Plans that covers regulatory divergence
towns and cities across the country.
The idea is that local authorities will and approach
work with an area’s major employers, relations with a less
universities, colleges, and industry adversarial attitude
bodies to establish long-term plans
for growth that align with the national than the previous
Government.
industrial strategy.

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