The Developing Countries Trading Scheme

This week the UK government launched the Developing Countries Trading Scheme – cutting tariffs, supporting British businesses, and helping to reduce the cost of living.  

  • Having left the EU Britain now once again sets our own trade policy - which means we have more scope to cut tariffs, support British businesses, and tailor the terms of our trading relationships with countries across the world to the specific things British businesses have to offer and that our businesses and consumers need.
  • To take advantage of this, the UK government has launched the Developing Countries Trading Scheme, which will extend tariff cuts worth £750 million on a variety of products from developing countries - from clothes and shoes to foods such as olive oil and tomatoes.
  • This scheme cuts red tape and costs for businesses, while supporting consumers with the cost of living by helping to keep prices low.
I've never made any secret that I voted Remain and if somehow sent back to 2016 knowing everything we know today I would absolutely do so again. 

However, the majority of those who cast a  ballot voted Leave and anyone who believes in democracy has to respect that decision. 

And it would be silly to pretend that Brexit doesn't have advantages as well as disadvantages. It would be even sillier not to make the most of the former while trying to minimise the latter.

Britain's ability to introduce schemes like the Developing Countries Trading Scheme is an advantage of Brexit which will help both developing countries and our own businesses and consumers by keeping prices down at a time when that is desperately needed.

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