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With effect from 21st May 2012, the Iraq Embassy will make a slight increase to their legalisation fees.

Please see Iraqi Circular 724 for more details

30.05.12

The World Trade Organization (WTO) seems incapable of bringing its members together in a binding agreement to complete the Doha round of trade talks, and yet countries are still queuing to join.

In September 2003, talks being held in Cancun, Mexico, collapsed in the face of irreconcilable differences between rich and poor countries. In December 2005, another make-or-break WTO meeting failed in Hong Kong.

Director-General Pascal Lamy reported to the WTO General Council on 1 May 2012 that, with regard to the Doha Round, “my conversations over the past few weeks with Ministers and delegations have provided me with a sense that Members wish to continue to explore any opportunities to gain the necessary traction and make tangible progress soon”.

So not yet dead, but certainly not about to come to a conclusion any time soon.

Nevertheless, the WTO remains open for business and countries continue to make their way through the long accession process, with the two most recent recruits being Montenegro and Samoa.

They have become respectively the WTO’s 154th and 155th member after both informed the WTO that they had accepted their membership package. Under WTO rules, a country becomes a member 30 days after national ratification.

As part of their accession commitments, both have agreed to further liberalise their trade regime and to accelerate integration in the world economy. The countries have also pledged to provide a transparent and predictable environment for trade and foreign investment.

Samoa has promised to fully implement the WTO Customs Valuation Agreement by June 2012.

See the WTO website for details of the accession package agreed by both countries.

30.05.12

With an employment rights report, commissioned by the Prime Minister from a leading venture capitalist,a second publication has appeared with the aim of making life easier for businesses.

The TaxPayers’ Alliance (TPA) and the Institute of Directors (IoD) have put forward a comprehensive plan for growth which they describe as the culmination of 18 months’ evidence gathering by the 2020 Tax Commission and the start of a major new campaign.

A joint project by the TPA and IoD, the Commission in its final report calls for “radical but realistic reform” of the UK tax system including the abolition of eight taxes and the creation of just one – a Single Income Tax.

According to a full analysis of the proposals by the Centre for Economic and Business Research (Cebr), a leading economics consultancy, the changes would increase GDP by 8.4% over 15 years – equivalent to an additional £5000 per family in 2012-13.

Among other recommendations, the report suggests that marginal tax rates should not exceed 30%, and the personal allowance should rise to £10,000. Taxes on capital and labour income “disguised as business taxes” should be abolished and replaced with a tax on distributed income.

Furthermore, transaction, wealth and inheritance taxes should be abolished while transport taxes should be cut.

Income Tax and Employees’ and Employers’ National Insurance should be merged into a single tax on labour income, with rates levelled down so that certain groups do not face higher bills.

Corporation Tax and Capital Gains Tax should be replaced with a single tax on capital income – dividends, interest and rent – at a rate of 30%.

Allister Heath, Chairman of the 2020 Tax Commission, concluded: “It is time for Britain to make a vital choice between tweaking the status quo and letting our economy continue to be crippled by complex and punitive taxes, and drastically changing course with a radical but realistic plan for a tax system fit for the 21st century.”

Click here to view the full report.

30.05.12

Food and Farming Minister Jim Paice has recently visited China on a mission to open up trade for Britain’s farming, food and drink sector.

“Food and farming already plays a vital role in the UK economy but I believe there are still great opportunities for growth in emerging markets like China,” he explained. “We need to keep ahead of the game by developing strong trade relationships with the world’s second largest economy.”

China’s growing middle class is increasingly buying foreign food and drink, seeing it as aspirational and recognising its high quality.

Whether it is Scotch whisky or frozen lobster, artisan crisps or malt drinks, an increasing number of British favourites are becoming supermarket staples, the Minister claimed.

He was looking to build relationships with key retailers and importers to smooth the path for British producers looking to make their mark in China. At the same time he was also promoting high quality breeding pigs from UK producers.

China is the world’s biggest market for pig meat and, at the end of his visit, the Minister announced a £50 million trade deal to sell British pork.

As well as the trade in breeding pigs, Mr Paice promoted the skills and technologies available in the UK to support breeding programmes, which have the potential to be even more lucrative.

30.05.12

The Government understands the importance of trade and investment to delivering long-term growth and prosperity in the UK and around the world. The Government’s strategy on trade and investment was detailed in the White Paper, “Trade and Investment for Growth”, which was published in February 2011.

The White Paper identified three key goals:

• help UK business trade and invest more and in new markets
• attract investment to the UK
• strengthen the multilateral trading system, including helping developing countries benefit from trade and investment.

ONE YEAR ON….

It has been just over a year since the Government launched the White Paper. Led by the Department for Business, Innovation and Skills, and working closely with UK Trade and Investment and the Foreign and Commonwealth Office, the White Paper advocated a whole of government approach to trade and UK growth.

The Minister of State for Trade and Investment, Lord Green, has recorded a short message to acknowledge some of the achievements and challenges of the first year of implementation

Lord Green also said:

“We’re now one year on from the launch of the White Paper. I am pleased to report that we have laid much of the necessary groundwork and made some real progress. However, we are taking a long term approach and our strategy cannot be secured in just one year; this is a marathon, not a sprint.”

“Trade and investment are absolutely fundamental to rebuilding and rebalancing our economy. The UK has a strong history as a trading and investing nation and continues to be one of the world’s most attractive places to do business, but the world is changing and we cannot be complacent.”

“Encouraging businesses to export more is at the very heart of our approach. We need to ensure business, especially our small businesses, have all the tools they need to flourish, that we strengthen and improve our relationship with trade partners around the world, that we fight protectionism and ensure poor countries can benefit fully from free and fair trade.”

Further details can be found in the paper “Progress and Achievements in year one“

LOOKING AHEAD……

In supporting trade and investment in 2012, the Government will prioritise five key areas of activity:

1) Roll-out of the SME exporting campaign, to double outreach to companies to 50,000 per year by 2015 over the next few years.

This will see conferences in every region of the country; active engagement with support networks; targeted support of SMEs at trade fairs and on trade missions; and e-networking of SMEs to support mentoring and experience-sharing.

2) Marketing high value opportunities in fast growing markets

This will involve an ambitious programme of conferences and other country-specific activities, along with trade missions for key sector providers, including SMEs.

3) Showcasing inward investment opportunities, especially in key economic infrastructure developments and building on our world-class science base

This will include more proactive identification of major overseas investors; special programmes for strategically important countries; and a major and sustained client marketing progress.

4) Working to ensure a supportive financing environment for exporting and investment

This means close engagement with banks on trade finance; expanding UK Export Finance marketing efforts; and active marketing of international venture capital providers and angel investors.

5) Seizing the one-in-a-lifetime potential of the London 2012 Olympics and Paralympics through a major international business programme aimed at boosting British exports and attracting inward investment

Over the coming months they will also:

• Support the EU to conclude Free Trade Agreements with India, Singapore and Canada; and open negotiations with Japan
• Agree more elements of Doha; and
• Find ways to press forward the international trade agenda with like-minded countries.

The Government’s commitment to open trade and investment is ambitious and long-term. It has already secured some key achievements. Their focus now is to build on this, and ensure the UK’s future prosperity

On 30 May Charles Bean, Bank of England spoke to a packed Norfolk Chamber Breakfast at Norwich City Football Club. It was a terrific opportunity for him to speak with local business people and it is great that the Chamber are able to bring their members closer to organisations such as the Bank of England.

To read more on Charles’ view on the Norfolk economy, click here

Photos from the vent can be found on Facebook or Google+

The New Anglia Local Enterprise Partnership is leading the UK’s transition to a green economy.

On Monday 11th June New Anglia Local Enterprise Partnership will present its Green Economy Pathfinder Manifesto to Government at a reception in the Houses of Parliament.

Attendees will include business leaders, representatives from Government departments, environmental organisations, local authorities and community groups.

The Manifesto, called ‘Leading the Way’, sets out the barriers and opportunities for sustainable economic growth, goals and aspirations and features case studies of business and organisations which are leading the way in developing the green economy.

The Manifesto represents the opportunity to embed good practices in the region’s green economy, across businesses and organisations, locally.

New Anglia helps to grow jobs and remove the barriers to business growth in Suffolk and Norfolk. It is committed to leading the transition towards a green economy, delivering benefits across the region and nationally.

International best practice highlighted by the Manifesto ranges from cutting edge research on the Norwich Research Park to eco-building techniques being pioneered in housing developments across Suffolk and Norfolk.

The Government invited New Anglia to take the lead on the development of the green economy last November and report back with recommendations on how the UK can seize the opportunities presented by the green economy.

Andy Wood, Chairman of New Anglia Local Enterprise Partnership and Chief Executive of Adnams plc said: “The New Anglia area has a wide range of energy resources, which is why we are ideally placed to lead the growth of the green economy.

“New Anglia is committed to building the green economy in a sustainable way and to share our knowledge and expertise across the UK.

“There will be a 45% projected growth in the low carbon and environmental market by 2012/15 and we want to place the green economy at right at the heart of business success – because it makes good business sense.”

Mark Pendlington, the Director, Anglian Water Group, chairs New Anglia’s Green Economy Pathfinder Board.

“New Anglia has brought together a group of talented people with specialist expertise to develop the Green Economy Pathfinder Manifesto”, said Mr Pendlington.

“As part of the Manifesto we have featured case studies of some innovative organisations which are at the cutting edge of developing services and products which will drive forward the green economy.

“The Manifesto provides a route map for all businesses large and small to seize the exciting opportunities of green growth. This will create and secure jobs and help our goods and services to compete and win the global marketplace. It’s a route to economic recovery, and we want businesses in Norfolk and Suffolk to be leading the way – by example.”

The Manifesto will be published on the afternoon of Monday 11th June on the website www.newanglia.co.uk.

• Eurozone problems increases pressure for more QE, but encouraging business lending would be more effective

Commenting ahead of the MPC decision tomorrow (Thursday), David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

“Most analysts expect the MPC to maintain its current policy at the June meeting, with interest rates staying at 0.5% and the Quantitative Easing (QE) programme at £325bn. However, demands for more QE have started to rise due to the worsening crisis in the Eurozone and signs that the US and Asian economies are slowing. More QE will have only marginal effects in boosting growth. But if the pressure facing Spanish banks puts the UK financial system at risk, an increase in QE may be necessary. In the meantime though, the MPC should focus on boosting the flow of credit to businesses.

“Weaknesses in business lending can be best addressed by the creation of a fully-fledged business bank. The MPC can also help by reconsidering its reluctance to purchase assets other than gilts, such as securitised SME loans. This would make the banks less risk averse and would help to remove one of the main obstacles to sustaining a recovery in the UK. We believe that if the MPC purchased private sector assets, this would encourage growth, rather than increasing irresponsible lending or interfering with credit allocation.”

Better Broadband for Norfolk Information Sheet 6 (8 June 2012) In May 2011 Norfolk County Council was successful in its bid to secure Governmentfunding to help provide improved broadband speeds and access across Norfolk.

In January 2012 we launched the ‘Say Yes to Better Broadband in Norfolk’ campaign andasked people to register their interest in receiving better broadband so that we coulddemonstrate the demand that exists in the county.

We want to keep the people of Norfolk informed and updated about the project and thework that is underway to provide better broadband services in the county. Please visitwww.norfolk.gov.uk/sayyesnorfolk for more information on the project.

What’s happened since the last update? We’re currently in the procurement phase of the project. This means that we’re indiscussions with potential private sector partners who will help us deliver the betterbroadband project in Norfolk. Because this is a competitive bidding process, we can’t gointo any further detail at this stage. We hope to be able to tell you more in the nextinformation sheet.

Is there anything else happening? We have got another opportunity for people to ‘Say Yes’ to better broadband in personcoming up – you’ll be able to register your interest in the Norfolk County Council tent at theRoyal Norfolk Show on Wednesday 27 and Thursday 28 June. You can also talk tomembers of the Better Broadband for Norfolk team at the show and find out more about theproject.

It’s still important that anyone who might be interested in receiving better broadband saysyes so that the project has as much information about demand for broadband services inNorfolk as possible.

If you’re not coming to the Norfolk Show, you can still sign up on the Say Yes website(www.norfolk.gov.uk/sayyesnorfolk) or by ringing 0344 800 8023 until later this summer. We’re fewer than 100 ‘yeses’ away from 15,000 since we launched the campaign inJanuary and that would be a nice milestone to pass!

If you require further information please telephone Norfolk County Council on 0344800 8020.

Henry Bellingham, MP for North West Norfolk, highlighted the need for greater improvements to the King’s Lynn to London rail service. Mr Bellingham was speaking at a recent meeting with West Norfolk Chamber Council.

Mr Bellingham commented that with First Capital Connect’s franchise agreement coming up for renewal, now was the time for local businesses to lobby for improvements to the rail service.

He said: “The following three criteria should be part of any new franchise agreement: Firstly Selective Locking on the rolling stock to allow for longer trains. At present, some station platforms are unable to take longer trains, due to the length of their platforms. Selective locking would allow longer trains to stops at all stations and carriages not able to reach the platform should be locked for safety reasons.

“Secondly, the Ely junction needs to be upgraded to allow for a faster train service. Lastly, refreshment trollies should be reinstated on the train service.”

• Research shows that nearly three-quarters of exporters don’t have an export strategy in place

The findings of a survey released today (Tuesday) by the British Chambers of Commerce (BCC) show that existing regulations and problems around accessing credit are hindering export growth in the UK. The survey of more than 8,000 businesses shows that nearly two thirds of potential exporters (63%) see access to finance issues as a reason not to trade overseas, while a quarter of companies believe that red tape, such as that associated with export licenses, is a barrier to trading overseas (25%). Furthermore, nearly three quarters of companies that are already exporting don’t have an export strategy in place.

Exporting is an important route to growth for companies at a time when the domestic economy is almost flat. Nearly half (44%) of respondents said they would be more likely to consider exporting if sales revenues deteriorated. More than half of companies that are already exporting said they would look to increase exports further if faced with a deterioration in domestic market conditions (56%).

There are still barriers which prevent non-exporting companies from trading overseas, with financial resource and access to credit as major factors (63%). Seven in ten non-exporters said cash flow and payment risk influenced their decision to export. Only 3% of businesses surveyed had used UK Export Finance, with 20% citing lack of awareness as a reason for not doing so. Regulation is still preventing companies from taking that first step towards becoming an exporter, with one quarter of respondents stating it as a barrier. Furthermore, one in three companies (36%) said that overseas regulations prevent them from doing business overseas.

Furthermore, nearly three quarters of exporters (74%) don’t have a formal export strategy in place. While many large exporters lack a formal strategy, there is a clear size divide which shows that small- and medium-sized companies are even less likely to possess one (42% of SMEs have one compared to 15% of micros). The results showed a willingness from firms to adapt their products and services to suit overseas markets, but almost half (49%) of exporting companies said they had become exporters by accident after being approached by potential buyers from overseas.

BCC recommendations:

• • Create a business bank and improve service in existing banks to address issues around access to finance: Our survey shows that problems with accessing finance prevent firms from getting their foot on the exports ladder. In addition, high street banks must train front line staff to be able to explain state-backed financial products to their business customers.
• • Incentivise the take up of training and mentoring: The Chamber Network is playing a leading role in linking businesses to export training and trade missions, but the government must play its part too by offering financial incentives for non-exporters that take up these services such as a reduced rate of tax on early exporting profits
• • Support more businesses to proactively pursue export opportunities: Introduce a variable fee system within the Overseas Market Introduction Service (OMIS) which is operated by UKTI. If this is based on company size, it would prevent smaller firms from being crowded out. Businesses also need to be more aware of UKTI’s Tradeshow Access Programme (TAP) and the government should invest more money into the scheme.

Commenting, John Longworth, Director General of the British Chambers of Commerce (BCC), said:

“There are still not enough of our great British businesses taking their products overseas. These results show that many firms lack an export strategy, and many only became exporters by chance. We need to find ways to make our businesses think global, and provide them with the support they need to break into new markets. Not only will this help to boost the UK economy, but it will show the world that Britain remains a major global competitor and a nation to do business with.

“The government can make some simple changes which will go a long way to giving firms the confidence and encouragement they need to trade overseas. Incentivising more firms to take part in trade missions would be a start to getting more companies thinking about adapting their products for the export market. Furthermore, the creation of a state-backed business bank would help solve problems around access to finance, which a large number of firms said prevented them from exporting. We need to get behind our businesses and give them the support they need to drive an export-led recovery.”

News bulletin – 18 June 2012

Record fall in ‘NHS satisfaction’ Public satisfaction with the NHS has dropped by a record amount, the British Social Attitudes Survey suggests.

Patients dropped from ‘re-categorised’ NHS waiting lists The Royal College of Surgeons (RCS) has condemned NHS trusts in England for changing the criteria for operations, leading to some patients being taken off operation waiting lists.

Chiropractors continue to treat children despite a lack of evidence The reluctance of chiropractors to change, in the face of a lost court case, the evidence and public opinion, is disconcerting.

Patients do not know how to contact GP outside normal hours: survey Four in ten patients do not know how to contact their GP out-of-hours services, a government survey has found.

Organ donation: Opt-out bill to be published in Wales Legislation to change the organ donation system in Wales will be published on Monday.

SMEs cutting back on PMI and group protection Smaller businesses are cutting back on the level of cover provided by benefits such as private medical insurance (PMI), according to analysis by Mercer.

Dental access figures look promising The Department of Health has published dental access statistics on findings from the second wave of results from the GP Patient Survey (conducted between January and March 2012).

Diabetes: a million not getting all basic checks About a million people with diabetes are at an increased risk of stroke, blindness, amputation and heart attacks because they are not getting all the medical checks they should, an NHS audit has found.

Olympic fever sees spike in A&E sports injuries Accident and emergency departments have seen a 15 per cent rise in sports injuries as an unfortunate side effect of Olympic fever, figures show.