Barry Gardiner MP, Shadow Secretary of State for International Trade, responding to the British Chambers of Commerce Quarterly International Trade Outlook for Q3 2016, said:

“The decline in services exports shown up in the British Chambers of Commerce survey is deeply worrying. Services comprise 80 percent of Britain’s exports. This means that even the welcome boost to our manufacturing sector, from the sharp fall in the value of the pound, cannot make up for such a shortfall. This is a critical hit on our overall balance of trade. The latest ONS figures to August actually showed the trade deficit widening by £2.5billion in just one month.

“The Government’s continued refusal to set out a clear forward plan for our future trading relationships is seeing a sharp drop in the sector’s confidence about future profitability.

"Dithering and divisions between ministers do have a direct impact on businesses and Government must clearly set out its priorities for the future. They must stop acting in secret, as if they alone have a monopoly of wisdom about what the best deal for Britain looks like. We need a trading plan that works for all British businesses, not an ad-hoc approach with sweetheart deals for some that leave other industries in the dark.”

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