BAB Policy and Trade Update

Been forwarded this email by a colleague? Sign up today to receive this update straight to your inbox! Sign Up Now

Welcome to the BABN’s September Policy and Trade Update.

As we head into October, BAB will launch its Annual Policy Agenda, which outlines the top priorities and areas of importance for the transatlantic business community in the coming months. The document drives BAB’s wider policy activity and engagement with policymakers and key stakeholders on both sides of the Atlantic.

Also coming up this fall will be more information about the UK DIT’s ‘International Trade Week’ and the 6^th US-UK SME Dialogue in November.

Finally, the autumn party conferences have begun, and we anticipate further details on the direction of the new government under PM Liz Truss following the announcement of a new mini budget this month. Meanwhile, the US midterms move closer.

See below for a recap of the policy and trade headlines of September 2022, as well as additional information on upcoming events in the Network.

Follow BAB on Twitter and LinkedIn

Headlines

2022 Annual Policy Agenda Launch

11/12 October 2022

BAB is pleased to be holding a panel discussion and evening reception to mark the release of the 2022/23 BAB Policy Agenda, kindly hosted by APCO Worldwide.

Every year, BAB releases its Policy Agenda, outlining the transatlantic business community’s policy priorities for the coming year.

This year the release of the publication will be accompanied by a hybrid event and panel discussion, featuring keynote remarks from US Commerce Deputy Assistant Secretary David De Falco and UK Minister of State at the Foreign, Commonwealth & Development Office, Jesse Norman MP; with reactions from the British Chambers of Commerce, the US Chamber of Commerce, Congress and Business. Join to hear more about the priorities transatlantic businesses have for government and listen to a comprehensive outlook of the challenges and opportunities facing the transatlantic trade and economic corridor over the coming year.

Register to attend the virtual component here. Please contact Sophie Rahemanji (London) ([email protected]) or Catharine Carstens (Washington D.C.) ([email protected]) for more details.

Policy Updates

White Paper: Tackling the Skills Shortage

September 2022

In mid-September BAB published its latest paper "A Small Business Work Plan: Recommendations for a Transatlantic US-UK SME Agenda".

SME trade between the US and UK is strong, but continued government support and transatlantic cooperation will be the key to future growth. This paper outlines five recommendations to create an actionable SME agenda that will lead to increased collaboration.

The paper calls on the US and UK governments to develop a joint set of principles for future US-UK SME cooperation, crease permanent mechanisms for government and stakeholder engagement on US-UK SME trade, organise a joint report on the barriers faces by SMEs when trading across the Atlantic, reserve resources for SMEs and make SME-focused campaigns.

Read the full White Paper here.

Annual Party Conferences

September/October 2022

In the UK, the season of annual party conferences have begun. Whilst the Liberal Democrats cancelled their conference due to it coinciding with the official mourning period for the late Queen Elizabeth II, attention has turned to the Green, Labour, Conservative Parties who outline their policy direction for the next year. Major points of the Labour conference so far include the announcement of 'Great British Energy' and bringing back the 45p income tax rate. The new Prime Minister is expected to elaborate on their recently announced mini budget and give further announcements on the agenda of the new Cabinet and ministerial team.

Government Mini Budget

September 2022

Kwasi Kwarteng MP recently announced the government 'mini budget'. The unveiled Growth Plan is said to include the biggest package of tax cuts in generations. Main points include the cancellation of corporation tax increases from 19% to 25%, the scrapping of the bankers bonus cap, and stamp duty to l be permanently cut up to £250,000. The Chancellor plans to expand the supply side of the economy through tax cuts. A statement from HM Treasury on the budget can be found here. Read our initial statement on the mini budget.

Trade Updates

Going Global Live

November 2022

Supported by the Department for International Trade (DIT), Going Global Live 2022 provides entrepreneurs and SMEs with advice and information on how to navigate overseas trading. This year's program will run through November 16-17th at Excel London, further details to follow.

US-UK SME Dialogue

November 2022

Following the successful resumption of the US-UK SME Dialogue in Boston earlier this year, the next Dialogue will be held in Edinburgh, Scotland in November. BAB has been a strong supporter of the SME Dialogue and looks forward to supporting this latest initiative this fall, together with the local BABN chapter SNABC.

Thank you for reading our Policy and Trade Update. If you have any feedback or comments please contact us.

BAB participates in and offers policy and trade support to the BritishAmerican Business Network, a group of over 20 independent trade organisations across North America and the UK. If you would like to learn more about the network and its activities, please visit our website.

If you no longer wish to receive communications from BritishAmerican Business, please unsubscribe using the link below