World-class export finance offer

Speaking at today’s (Wednesday 9 May) UK Trade and Export Finance Forum, Minister of State for Trade and Export Promotion, Baroness Fairhead set out the government’s plans to put a world-class export finance offer at the heart of UK trade through UK Export Finance (UKEF).

Ahead of the publication of the Export Strategy, which will outline the government’s vision to boost UK exports, Baroness Fairhead pledged to help more UK businesses access UKEF-backed finance, particularly SMEs and companies that supply to exporters but do not yet export themselves, in order to grow their business.

Baroness Fairhead, Minister of State for Trade and Export Promotion, said:

In UKEF, the UK’s exporters have a world-class export credit agency that can provide innovative, flexible finance and insurance to help them realise their full exporting potential.

Our Export Strategy will specifically aim to make more businesses aware of UKEF’s products and services, helping them to access new opportunities overseas and grow their businesses through exporting.

The draw of UKEF support

Baroness Fairhead also announced the government’s ambitions to generate more business for UK companies through UKEF. Using the draw of UKEF support for major international projects, the government will significantly increase the contribution of UK goods and services suppliers to major projects around the world – an approach that is already creating hundreds of millions of pounds of opportunities for UK exporters.

Baroness Fairhead committed to a review of UKEF’s product suite, to ensure UKEF’s support remains comprehensive and relevant to market needs.

Baroness Fairhead said:

That’s my call to you today. We want to build our Export Strategy with you; and together with you, we can build a nation of exporters.

Baroness Fairhead spoke at the day-long forum, following a speech from International Trade Secretary, Dr Liam Fox MP, who earlier announced an agreement between UKEF and Atkins International, a world-leader in international project management and engineering projects, to grow its UK supply chain and boost UK exports, as well as UKEF support for the Dubai World Trade Centre.

The event included talks and panel discussions from John Mahon, the newly-appointed Director General for Exports at the Department for International Trade; Antonia Romeo, Permanent Secretary of the Department for International Trade; Louis Taylor, CEO of UK Export Finance; Baroness Northover, HM Trade Envoy for Angola and Zambia; and Baroness Nicholson, HM Trade Envoy for Iraq, Kazakhstan and Turkmenistan; senior representatives from multinational companies General Electric and Bechtel; and the CEO of Scottish bus manufacturer and major UK exporter Alexander Dennis.

The Export Strategy will build on the government’s Industrial Strategy, published last November, which set out a long-term plan to boost the productivity and earning power of people throughout the UK.

Background

This year UKEF has increased – and in many cases, doubled – its financial capacity to support exports to over 100 markets around the world, as the UK seeks to enforce its position as a leading player in the global market, and make world-leading UK expertise, products and services accessible to buyers around the world.

In 2017, UKEF was awarded ‘best export credit agency’ by Global Trade Review and Trade Finance magazines.

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Approximately 2,000 products, which equates to around 1,250 litres, were seized as unauthorised veterinary medicines.

These products were intended for the aquarium and pond fish market. The products had not been manufactured by a holder of a manufacturing authorisation.

The sale and supply of these products is an offence under Regulation 4 (Placing a veterinary medicinal product on the market), Regulation 26 (Possession of an unauthorised veterinary medicinal product) and Schedule 3, Regulation 27 (Supply of an unauthorised veterinary medicinal product) of the Veterinary Medicines Regulations.

An updated guidance document about the ‘interests of justice’ test is available for you to use when applying for funding.

Why is this important?

‘Interests of justice’ must be considered when applying for criminal legal aid.

The guidance we are making available is also used by our caseworkers when processing your applications.

How does the new guidance help?

Our intention is to provide guidance which clearly sets out what you need to know when considering the ‘interests of justice’ test.

This should help to reduce the number of applications being refused legal aid every year.

The document was prepared with help from both the Law Society and HM Courts and Tribunals Service (HMCTS).

What has changed?

The criteria to consider remains the same. However, there have been some changes in practice which are outlined in the guidance.

For example, the guidance clarifies the level of detail required in relation to previous convictions. We understand that providers won’t always have all the detail at the point of application. So, the guidance sets out the minimum required information.

Further information

Work out who qualifies for criminal legal aid – to download ‘LAA guidance on the consideration of defence representation order applications’

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