Regional Infrastructure 34

BOOMTIME FOR EAST OF ENGLAND EXPORTS

Exports in the East of England boomed last year, with manufacturing sales reaching nearly £18bn.

In fact, the region was one of the UK’s top exporters, according to Export Dividend report from Barclays Bank. UK exports were worth a staggering £176bn to the economy last year, with four regions – including the East of England -- accounting for more than half these sales.

Despite ongoing economic turbulence, Barclays’ research showed most manufacturers are emerging from the pandemic with revenues intact. Over a quarter of companies surveyed (particularly SMEs) said they had achieved better growth in 2021 than in a ‘normal’ year.

The study also revealed a bullish mood among exporters, despite lingering concerns over Covid and supply chains. Admittedly, a number of tough challenges remain: rising labour costs is cited as the most common one, followed by supply chain disruption, and driver shortages.

However, manufacturers are finding innovative ways to circumvent supply chain upheaval by diversifying their global supply base, setting up overseas warehouse space, or bringing the supply chain to the UK (onshoring) or closer to home (nearshoring).

Manufacturers’ most desirable markets may be in flux, but UK products are very much in demand in growth markets such as China, India and the UAE. Europe remains a significant trading partner, although the bank’s research shows a significant number of manufacturers seeking new customers beyond the EU. The US retains its place as the top overseas market, but current exporters are most likely to trading in Canada, India and Latin America.

Regional firms are very supportive of the proposed freeports at Felixstowe and Harwich, which will allow manufacturers to import materials without the usual tariffs. Ninety-three per cent of firms surveyed in the East of England said they plan to make use of the freeports once open.

Based on the number of firms planning to export for the first time, Barclays estimates that the region could make further big gains in the coming years.

Mike Freer MP, Minister for Exports, said: “2022 will be a 5-star year for UK trade, with ambitions for 80 per cent of UK trade to be covered by existing and new trade agreements by the end of the calendar year, alongside the launch of talks with India, Mexico, Canada, and the Gulf Cooperation Council.”

NEW ANTI-TERROR LAW COULD AFFECT YOUR BUSINESS

Businesses across the country could soon be subject to new anti-terrorism legislation, as part of a government commitment to improving public safety. Local security expert John Dolan looks at the implications for businesses in the East of England.

The Protect Duty has been proposed in response to the 2017 Manchester Arena terrorist attack in 2017, which killed 22 people and injured many more. The mother of one of the victims, Martyn Hett, fought to bring in legislation (originally named Martyn’s Law) requiring crowded public spaces and venues to consider the risk of a terrorist attack and to take steps to protect the public. A consultation period on what businesses feel the Protect Duty should look like ended in July 2021 with about 2,500 responses. The government has analysed these responses and it is anticipated that a bill will be put before Parliament towards the end of 2021, which will then become law next year. The legislation will apply to any Publicly Accessible Location where more than 100 members of the public have access, as well as any large organisation employing 250 or

more staff (Local Authority or Shopping Centre for example) that operate at any publicly accessible locations. The Protect Duty could therefore affect locations or events such as town centres, village fetes, educational premises, theatres, concerts, pubs, clubs, coffee shops or anywhere The new Protect Duty will where the public exponentially expand the attend. Businesses and venues would be sphere of likely people, expected to carry out risk assessments and events and locations identify proportionate mitigation measures that will need advice and to deal with a terrorist guidance and businesses attack. The new Protect Duty and venues are being will exponentially warned to begin expand the sphere of likely people, preparations. events and locations that will need advice and guidance and businesses and venues are being warned to begin preparations. Cursory guidance will be available from local Counter Terrorist Security Advisors (CTSAs) – a national network of individuals working for