Autumn Statement 2013: UK exporters encouraged to access loans

Autumn Statement 2013: UK exporters encouraged to...

KPMG's High Growth Markets practice comments on the announcement that the Government's credit agency will provide loans to help international buyers

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Commenting on the Chancellor’s announcement that the Government’s credit agency, UK Export Finance, will provide individual loans of up to £50m to help international buyers access British goods and expertise, Richard Reid, Chairman of KPMG’s High Growth Markets practice in the UK, said:

“This is very welcome news for UK business. The well-documented potential in the likes of China, India and Brazil for UK products and services is matched and indeed exceeded in parts of Africa and ASEAN, where huge rising middle class populations require infrastructure, technology and consumer goods in huge quantities, and quickly."

“UK Export Finance offers credit guarantees and other services that give UK exporters of all sizes a wonderful opportunity to seize the moment while minimising financial risks. However, to date, it has been largely unrecognised and certainly under-utilised by UK companies. Hopefully today’s announcement will encourage exporters to grasp the nettle further, while maintaining the UK’s position as a place for foreign investment."

It is also encouraging news that UKTI is receiving increased funding to expand on the excellent foundations for growth it has established to date.”

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For further information please contact:

KPMG Press office +44 (0) 207 694 8773

Katy Broomhead,

KPMG Corporate Communications

M: 07824 537963


About KPMG:

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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