A significant portion of UK businesses are calling on Sir Keir Starmer to reduce post-Brexit red tape to boost British trade. A survey conducted by Santander revealed that 31% of companies are advocating for a decrease in post-Brexit regulatory requirements, which include customs procedures, obtaining necessary licences for trading, and enhancing mutual recognition of professional standards and qualifications across Europe.
Since the UK officially departed from the EU in January 2020, the government has implemented various trade regulations for foreign goods, such as border controls, customs declarations, and health certifications. Dr. Mike Galsworthy, Chairman of the European Movement, expressed concerns about the additional layers of bureaucracy imposed by Brexit on British businesses. He highlighted that the UK’s economic future might be more promising within the Customs Union and Single Market.
Despite these challenges, the Santander survey indicated that nearly three-quarters (74%) of businesses are confident about their growth prospects in the next three years, with 36% feeling “very confident” compared to only 22% a year ago. This growing sense of optimism is attributed to a reduction in inflation and its impact on businesses.
John Baldwin, the CEO of Santander’s Corporate & Commercial Banking, emphasised the importance of supporting small to medium-sized enterprises (SMEs) for economic growth and job creation. Businesses are looking to the government to align with their ambitions and facilitate expansion globally.
Sir Keir Starmer has pledged to recalibrate relations with the EU and ensure that Brexit works effectively by renegotiating the deal established under Boris Johnson’s administration. The survey conducted by YouGov between August 12 and September 1 involved 1,001 UK businesses with a minimum annual turnover of £1 million.
**Insights and Summary:**
The calls from UK businesses for Sir Keir Starmer to cut Brexit red tape reflect the ongoing challenges and adjustments that companies are facing post-Brexit. The survey results show a mixed sentiment among businesses, with concerns about bureaucracy coexisting with optimism about future growth opportunities. It is essential for policymakers to consider the needs of businesses, especially SMEs, to foster a conducive environment for economic prosperity and job creation. As the UK continues to navigate its post-Brexit landscape, addressing regulatory burdens and supporting business growth will be pivotal in driving the nation’s economic recovery and success.