Inquiry into Rebalancing the economy – trade and investment: IET comments to the House of Commons Business, Innovation and Skills Committee.
It is worth stressing the importance of exporting manufactured goods, an area where the UK still has a large deficit, if the economy is to be rebalanced. It is possible to deliver on an export-led recovery if measures are taken to move UK companies (particularly small and medium enterprises (SMEs)) up the value chain, while taking advantage of economies of scale along the way. A combination of SMEs moving up the value chain, a low and stable exchange rate and an increase in technical skills can combine to produce a sustained export-led economy.
Submission Details Submitted on 10 January 2011 to House of Commons Business, Innovation and Skills Committee