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29th September 10am.
Robert Wilde attends the speech by Secetary of State Rt Hon. Dr Liam Fox MP. It has been 3 months since the UK has voted to leave the EU and one of the brexiteers, Dr Liam Fox was firmly in the leave camp.
He has replaced Sajid Javid MP as the Secetary of State, and his previous department Business Innovation and Skills (BIS). The newly formed department is called "Department for International Trade" and this has also replaced UKTI.
UKTI have assisted Volcanic in thier export strategy over the last 3 years and as it stands today, we have 34 clients based overseas, including Hong Kong, Japan, Australia and Singapore. This export growth has also helped the team grow from 5 - 40 staff in the same period.
Brexit was a disturbing time for us - we supply the recruitment industry, and if it has a downturn, so do we. We were anticipating a global softening of growth plans and reduced hiring.
Thankfully we were wrong, but something else remarkable happended. Our international trade experienced an immediate boost as we realised we were less exposed if we had a greater number of customers overseas.
Dr Leam Fox reported a number of stats today:
- We have a record current account deficit of 5.4% of GDP to be delath with in the future.
- The solution is improving UK productivity
- We will rebalance our economy through trade, inwards investment and export.
- The UK will be a world leader in free trade - becuase of Brexit.
- People think the referendum is Britain looking inwards. They are 100% wrong. This is the beginning of England looking outwards.
- We are looking to take our place in a global competitive environment.
- We will target any market which is functionally similar, regardless of geography.
- We have the 5th largest economeny, which is voted as the 6th best place to do business
- Free trade will play important role when leaving the EU.
- Trade is back on the the agenda, with the new Primte Minister.