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George Osborne Will Miss Uk Export Target, Bcc Warns

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http://www.theguardian.com/politics/2014/aug/28/osborne-miss-uk-export-target-bcc-warns

George Osborne will miss his target of doubling UK exports to £1tn by 2020 because the government has failed to take the radical action needed, a leading business lobby group has said.

The British Chambers of Commerce said exports would have to grow by 10% a year to meet the target set by the chancellor in 2012. The UK's export performance over the past two years indicates that double-digit growth is out of reach, said the BCC, with exports increasing by 0.5% in 2012, and by 2.1% in 2013 to £505.6bn.

John Longworth, director general of the BCC, said: "As it stands at the moment we will not hit that target. We've got a government that is not putting its money where its mouth is and we need to do something radically different in support for exports."

The BCC cut its forecasts for export growth this year from 1.9% to 0.8%. It expects export growth to increase to 4.1% and 4.6% in 2015 and 2016 respectively. Longworth said businesses were not receiving sufficient support to justify the risk of entering fresh markets and selling their goods and services abroad.

"We're not in a war, it's not Lord Kitchener saying your country needs you. It's completely unreasonable that you should ask a business to put their livelihood and employees at risk out of the goodness of their hearts. It's unreasonable for the government to say fix your bayonet and get over the top."

BCC looking for taxpayer subsidies to sell goods aboard?

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What's Osborne going to do? Open a few state run work houses? Call Cameron back from holidays and get him to work making stuff to export.

End of the day politicians do not make exports it's the private sector that they are feeding off.

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What's Osborne going to do? Open a few state run work houses? Call Cameron back from holidays and get him to work making stuff to export.

End of the day politicians do not make exports it's the private sector that they are feeding off.

How about stopping tax credits?

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How about stopping tax credits?

And how will that increase exports? It might reduce imports, especially basic foodstuffs. Perhaps we could rely on aid from Burkino Faso?

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What's Osborne going to do? Open a few state run work houses? Call Cameron back from holidays and get him to work making stuff to export.

End of the day politicians do not make exports it's the private sector that they are feeding off.

Sounds like they're not happy with a strong pound and want some tax cuts for manufacturers that export. Could be helpful, or shareholders and execs could pocket the difference.

They're wasting their time though, osborne is only interested in pumping up house prices. Aren't his mum and dad looking at selling 1 or 2 expensive London properties?

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A blindfold archer would have more success hitting targets than Red George.

Wasn't he supposed to have dressed up like one, according to his former dominatrix, the one who has a book coming out soon?

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Longworth said businesses were not receiving sufficient support to justify the risk of entering fresh markets and selling their goods and services abroad.

"We're not in a war, it's not Lord Kitchener saying your country needs you. It's completely unreasonable that you should ask a business to put their livelihood and employees at risk out of the goodness of their hearts. It's unreasonable for the government to say fix your bayonet and get over the top."

UK high housing costs mega-drag. Small business creates jobs. So long as VI HTB housing developers doing ok, landlords always on the sniff for putting rent up (inc Fergus = his costs go up £25 = tenants' rent goes up £25), other owners and media celebrating outlook for HPI gains.

Younger people coming through would have more to spend on consuming if house prices were not so high. More young people chancing business start ups. People with more money to spend on what business sells. More business investment/borrowing for the future. Yet the main business interests of the world seem to be pushing debt and maintaining high house prices.

Add into that a government stimulus aimed at reviving the market in low deposit mortgages and the situation is worrying. Rapid house price rises raise all sorts of problems. Housing absorbs vital credit. It ties up huge amounts of money in an unproductive asset.

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So even all those Help to Export charity donations to overseas countries aren't enough to meet UK export targets.

Eventually all the reckless, self serving and incompetent LibLabCon policies were bound to show up.

Edited by billybong

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