Budget 2014: UK export finance reforms provide welcome boost

Budget 2014: UK export finance reforms provide we...

Interest rates to be reduced on the direct lending programme to the lowest permitted level.

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Richard Threlfall, KPMG’s Head of Infrastructure, Building and Construction comments on today’s budget announcements:UK construction firms struggling to find good news in the budget should take a closer look at the announcement on the reform of UK export finance, in particular the commitment to reduce interest rates on the direct lending programme to the lowest permitted level – in line with other countries’ export schemes such as those offered by the US and Sweden."

“The improved direct lending scheme will offer low cost finance to any overseas buyer offering a contract of at least £5m in value and where at least 20% of the supply is from the UK. The main beneficiaries of such schemes will be suppliers of high technology engineering in the defence sector, and suppliers to major overseas infrastructure projects."

“The scheme should over time provide a welcome boost in demand to UK exporters in the construction industry supply chain. Firms that are currently focussed only on the UK should start looking at overseas markets as well.”


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For further information please contact:

Katrin Boettger, KPMG Corporate Communications

T: 020 7896 4232

M: 07824 475 168

E: katrin.boettger@kpmg.co.uk

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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 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. Each KPMG firm is a legally distinct and separate entity and describes itself as such.


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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