Chamber News

Due to the success of our 2017 Chamber training our new 2018 training programme has 30 business training courses and 20 international trade training courses.

 To see our NEW 2018 programme click here

Chamber Training delivers an in depth approach to a range of key business skills, covering subjects that are directly relevant to today’s business needs including workshops on; social media, LinkedIn, email marketing, networking, Google Adwords and International Trade training.

Norfolk Chamber has utilised the skills of their expert members to deliver these workshops with presenters from 101, Yellow Brick Road, Business Writers Ltd, DKR Training and Support and Wolf Digital Marketing.

These workshops take place in the Chamber’s well appointed board room. Working in small groups’ attendees will be able to enjoy personalised and interactive training, aimed at helping to improve knowledge and efficiency. The training courses are available in both mornings and afternoons.

To view the upcoming training workshops available to book visit: https://norfolkchamber.co.uk/training

If you would like to receive a Training Brochure in the post just email [email protected] with your name and address. 

Norfolk Chamber believes that getting the A47 fully dualled is vital to the future success of Norfolk.

The A47 trunk road is managed by Highways England on behalf of the Government and runs from just past Peterborough in the west and across the breadth of Norfolk to Lowestoft in the east.

Currently just 47% of this major route is dual carriageway and while Highways England have committed to making £300 million of improvements to the road, including dualling some stretches, this will still leave substantial sections of the A47 as single carriageway with no current plans to dual them.

So we have launched the Just Dual It! campaign with Norfolk County Council and the Eastern Daily Press. The campaign is calling on the Government to…

• Fund the dualling of the Acle Straight (near Great Yarmouth) and Tilney to East Winch (near King’s Lynn) sections of the A47 in the next round of Government-funded improvements for the UK’s trunk road network, with the work carried out between 2020 and 2025
• A commitment from the Government to make funding available to dual the entire length of the A47 by 2030

We firmly believe that we have a strong case and if we can make enough noise about it, this can make all the difference.

Commenting on the need to fully dual the A47, Chris Sargisson, Chief Executive of Norfolk Chamber said:

“Historically, Norfolk’s infrastructure has lagged behind the rest of the UK and the county as a whole needs to come together to give voice to our infrastructure needs. 

The new campaign will highlight how vital the need for further improvements along the A47 really are.  It is already evident that poor infrastructure is restricting business growth in Norfolk.  Improvements along this significant east/west trunk road will help every sector of the business community, right across the county and will enable them to deliver greater economic growth and jobs for our region. 

“Norfolk Chamber will continue to rally the business community and lobby hard to achieve the goal of fully dualling the A47 as soon as possible.”

How can you get involved?

• Buy a copy of the Eastern Daily Press on Friday, 23 March – inserted in the paper will be a Just Dual It! freepost postcard for you to send your own message to the Government about why you think the A47 needs to be fully-dualled as soon as possible
• Also from Friday 23 March, an e-postcard will be available on the Chamber website for businesses to complete.  We will take your submission and transfer it onto the postcards
• Pick up a Just Dual It! postcard from receptions in any of the following buildings from Friday, 23 March onwards:
  • Norfolk County Council, County Hall, Martineau Lane, Norwich
  • The Eastern Daily Press, Prospect House, Rouen Road, Norwich
  • Norfolk Chamber of Commerce, 9 Norwich Business Park, Whiting Road, Norwich
  • Great Yarmouth Borough Council, Town Hall, Hall Plain, Great Yarmouth, NR30 2QF
  • Borough Council of King’s Lynn & West Norfolk, Kings Court, Chapel Street, King’s Lynn

Please note, postcards in these locations will not be freepost, so will require a stamp. We would encourage you to fill them in at the venue and hand them back rather than take them away and post them. 

• Tweet your support for the campaign using the hashtag #justdualit. If you include your full name and location (e.g. village/town name) in the tweet, we will transfer your message onto a postcard for you

The postcards will be collated in the summer with the intention of taking them down to Westminster to evidence the strong support that exists for getting the A47 dualled.

Please help us to show the Government how important this is to Norfolk. Thank you for your support!

The other 27 Member States have been invited to agree their approach to a new partnership with the UK after it leaves the Union.

Although the six-page document restates the EUs determination to have as close as possible a partnership with the UK in the future, and agrees that such a partnership should cover trade and economic co-operation, it warns that being outside the Customs Union and the Single Market will inevitably lead to frictions.

Divergence in external tariffs and internal rules as well as absence of common institutions and a shared legal system, necessitates checks and controls to uphold the integrity of the EU Single Market as well as of the UK market, the European Council document states. This unfortunately will have negative economic consequences.

The proposal for a free trade agreement (FTA) providing zero-tariff trade in goods and covering services will be welcomed in Whitehall but linking this to continued access to UK fishing waters for EU vessels will cause problems with Leave voters and politicians.

Many will remember the sight of Nigel Farage leading a flotilla into the Thames as part of the pro-Brexit Fishing for Leave.

Available at gwpengine.netdna-ssl.com, the draft guidelines have been released ahead of a meeting of European Council leaders on 22 and 23 March, where they will be asked to agree to a 21-month transitional arrangement after the UK formally leaves the EU in March 2019.

The document includes the now familiar warning about the Single Market being a set menu.

It says: The European Council recalls that the four freedoms of the Single Market are indivisible and that there can be no cherry picking through participation based on a sector-by-sector approach that would undermine the integrity and proper functioning of the Single Market.

It also insists that the role of the EUs Court of Justice (CJEU) will be fully respected.

Commenting on the Spring Statement, delivered today (Tuesday) by the Chancellor of the Exchequer, Nova Fairbank, Public Affairs Manager for Norfolk Chamber, said:

“Norfolk businesses will be encouraged by the Chancellor’s report on the UK’s fiscal health, with lower projections for the deficit and falling national debt, as well as his solid defence of the market economy and the role of the private sector in delivering prosperity.

“Yet as deficit and debt levels improve, the Chancellor must resist calls to pour money into politically-attractive, short-term spending priorities. Any headroom the Chancellor has must be used to leave a lasting mark on our infrastructure and to attract investment – particularly with the challenges and changes of Brexit ahead.

“A far stronger push is needed to fund and fix the fundamentals here at home in the coming months, and Norfolk business wants the Chancellor to use his Autumn Budget to gear up and spend to improve digital connectivity, deliver further road and rail improvements, strengthen the UK’s energy security and build more houses. Existing plans alone are not enough.

“Given that businesses across Norfolk and the rest of the UK have long complained about constant tinkering with tax rates, the Statement’s lack of tax and spending changes is welcome – and not before time. A clear annual cycle will mean fewer rushed policies and give firms the time they need to plan for any changes that come their way.”

On business rates:

“We are pleased that the government has listened to our calls to make revaluations more frequent. Switching to a three-year-cycle will go some way to reducing the huge changes in rates bills that clobber firms across the UK, and enable them to plan their growth strategies with greater confidence.

“However, a system that responds more frequently to changing economic conditions must also be simpler for firms to navigate. The current system already generates a huge number of appeals, and if it is not made easier for companies, more frequent valuations would simply make this backlog mushroom.”

On late payment:

“Previous attempts to tackle late payment have not had the desired effect, because affected firms are often unwilling to jeopardise customer relationships by calling out bad practice. The government must use its convening power to tackle this issue in sectors where it is clear that problems exist.

“Changing payment terms mid-contract, and burying payment terms in the small print when suppliers register for business, are issues that deserve ministers’ attention. However, ultimately improving relationships between businesses is a key part in addressing the problem of late payment.”

On apprenticeships and the apprenticeship levy:

“While more funding to support small businesses seeking to employ apprentices is welcome, urgent action is needed to reform and improve the apprenticeship levy – which is currently failing both businesses and the people they want to train. The levy’s lack of flexibility and its complexity are stifling the training aspirations of businesses of all sizes.”

On the latest forecast by the Office for Budget Responsibility, Suren Thiru, Head of Economics at the British Chambers of Commerce, added:

“Taken together, the OBR’s latest forecasts suggest that the UK will remain locked onto a low growth trajectory for the foreseeable future. While GDP growth for this year was upgraded slightly, their projections for 2021 and 2022 have been downgraded.

“It is encouraging that government borrowing is now projected to be lower over the next few years than in their previous forecast, and suggests that that chancellor will have some welcome fiscal headroom at the Autumn Budget later this year.

“The OBR’s latest outlook also highlights significant challenges facing the UK economy over the near term. Their projections implies that UK economic growth will remain unbalanced throughout the forecast period with business investment and trade expected to add little to overall UK growth.

“UK productivity is still expected to remain subdued over the next few years, and could weigh more on overall economic activity than the OBR’s GDP growth forecast currently suggests. Productivity continues to be hampered by the deep-rooted problems in our economy, from the skills gap to chronic underinvestment in the UK’s infrastructure.

“The OBR is right to highlight the risk of a disorderly Brexit, as a sudden departure from the EU would be likely to trigger a marked weakening in economic conditions.”

“Against this backdrop, the focus of the Autumn budget must be on delivering a fiscal consolidation plan that achieves a more sustainable balance between deficit reduction and boosting productivity and growth, including using its greater fiscal headroom to deliver urgently needed infrastructure investment.”

On Thursday 8 March, eight Norfolk Chamber members went to London for the British Chambers of Commerce (BCC) conference. Business writer Huw Sayer was among them and sent in this report.

The BCC annual conference might not be as glamorous as the BAFTAs but it is a major event in the UK’s business calendar. Delegates from across the UK and international Chambers gather to listen to politicians and business leaders debating the hot topics facing industry. The focus this year was on diversity, international trade and the future of work.

These three topics were particularly appropriate as:

1. The event coincided with International Women’s Day and came hard on the heels of numerous high profile sexual abuse scandals and pay equality disputes.
2. The EU had just set out its latest negotiating position on Brexit, including a possible future trading relationship with the UK.
3. The fourth industrial revolution, particularly the use of AI and robotics, seems to be accelerating exponentially and transforming the jobs market.

The less said about the four political set speeches the better. It’s understandable the BCC should invite politicians – but it’s a shame they each got 15 minutes to talk rather than just five. All we learnt was that some MPs seem to think repeating wishes loudly enough will make them come true. 

Don’t lose sight of what matters to business

The non-political speeches however were incredibly interesting and the panel discussions were excellent. The BCC’s director general, Dr Adam Marshall, made a particularly impassioned call for all parties not to allow Brexit to distract them from the critical issues facing the country. In particular, he stressed the urgent need for greater investment in core infrastructure (road, rail, broadband and mobile) to improve productivity and drive innovation.

Help people embrace change

The morning session, chaired by Anna Edwards from Bloomberg Europe, looked at the future of work. A key challenge is how we give people the digital skills to cope with new technology. Sarah Howard MBE, one time president of the Suffolk Chamber and now VP at the BCC, called for better careers advice in schools – and more work experience opportunities. She said that many businesses were keen to support this – but schools need to do a better job of planning their involvement.

Uncertainty is here to stay

The first session of the afternoon, chaired by Bronwen Maddox from the Institute of Government, looked at the future of trade. Clearly, Brexit was always going to dominate – and, judging by the audience reaction, it divides the business community as much as it does the nation. That said, the panel (from across the political spectrum) tended to be pragmatic in their analysis. Miriam González, from the law firm Dechert, was particularly impressive in her grasp of detail. She observed that most businesses she spoke to were being realistic and treating Brexit as a damage limitation exercise.  

Culture eats strategy – so get yours right

The theme of the final panel discussion, chaired by Sarah Gordon from the Financial Times, was diversity in business. It particularly looked at how to encourage more women to pursue STEM related careers. Samantha Payne, the co-founder of Open Bionics, made the important point that diversity is essential if you want to attract talented ‘millennials’.

In the main, young people want open and tolerant workplaces – and will judge potential employers as much by their company culture as the pay packet on offer. Funke Abimbola MBE, General Counsel at Roche UK’s pharmaceuticals division, stressed the need for greater transparency on pay and employment practices to create such a culture. While Fleur Sexton, MD of PET-Xi, emphasised the business value of diversity, not least in building more creative and productive teams.

A day well spent

Despite leaving home at 05:30 and not getting back until 20:30, this was a worthwhile trip. As well as listening to interesting people discuss important topics; I had the pleasure of meeting quite a few people from other Chambers (including a team from Suffolk). The four hours train travel wasn’t wasted either as it gave me the opportunity to get to know fellow Chamber board directors better.

As well as chatting about families, children and pets, we discussed some of the key challenges facing Norfolk businesses. Naturally, one of these was the state of the railways – notably the bottleneck created by the single track over Trowse Bridge. That is a topic for another day but your board is determined to unlock this long-term brake on the local economy.

Catch up on social media

If you want to see what other people thought about the BCC conference, just search for the hashtag #BCCConf on Twitter. Don’t forget to follow @NorfolkChamber for all your local business news

Norfolk Chamber is working in partnership with the A47 Alliance to help promote the business case for the full dualling of the A47 from Lowestoft through to Peterborough.

On Monday 19 March, we have arranged for the Rt. Honourable Jesse Norman MP, Minister for Roads to be at the Town Hall in King’s Lynn from 10.15am to 1pm to hear from local businesses and politicians about the benefits of improvements to the A47.

We are calling on the Norfolk business community to help support the Norfolk Chamber and the A47 Alliance and show Mr Norman just how important the A47 improvements are to our region and how committed we are to achieving them.   

We would like to hear from businesses about the benefits that dualling the A47 would bring to their business and we are particularly keen to hear from businesses based in Great Yarmouth, Dereham, Swaffham and King’s Lynn; or any business located next to the A47.

David Powles, the Editor of the EDP, will host the morning, and we will be launching a very exciting ‘Dual the A47’ campaign, that will run for a number of weeks, followed by a delegation to Westminster.

The event is free to attend and a light lunch will be served at the end of the event – places are limited, and will be allocated on a first come first served basis. 

If you wish to attend this event, please can you contact: [email protected] by no later than Wednesday 14 March 2018.

This offer is open to all businesses.

Addressing the BCC Annual Conference 2018 today (Thursday), Dr Adam Marshall, Director General of the British Chambers of Commerce, will remind the government that the biggest challenges and opportunities facing the UK business community, and country, are not related to exiting the EU, but to the fundamentals in the domestic environment.

In his keynote speech to the Conference in the QEII centre Westminster, Marshall will call on the government not to let Brexit overshadow all the issues in the domestic environment that need urgent attention to boost confidence, improve productivity and create jobs.

To equip the country for future success, Marshall will say the fundamentals must be fixed first, including funding repairs on local roads, improving capacity of railways and airports, building more houses, ridding the UK of mobile phone ‘not-spots’, stabilising the training and apprenticeship systems, and delivering a clear and easy-to-use immigration system.

Marshall will also call for a bigger, more optimistic vision for the future of the UK, a national sense of mission to unite the efforts of business, government and the public at large with a real sense of purpose.

Marshall will also warn about the importance of a thriving private sector and defending private enterprise and wealth creation.

Dr Adam Marshall, will say:

“I want to talk about the choices that our leaders must make right here in the UK. The choices that are in our own hands. The issues that are currently being overlooked. The practical, pragmatic UK agenda that will unlock investment and a brighter, more prosperous future.

“Business know that success so often depends on getting the basics right first. The same holds true for the UK economy. It’s time for Westminster to join us in focusing on the basics. By addressing the less flashy things that always seem to fall between the cracks. We must equip this country for future success – by fixing the fundamentals first.

“Successive governments have acknowledged that more could be done to get the basics right for business. Indeed, the current government’s developing Industrial Strategy is up-front about many of these challenges. Yet the leadership and the infrastructure simply aren’t there to make change happen.”

On the need for a national mission, Marshall will say:

“There is a real hunger coming from businesses across the UK for real leadership and vision. Businesses want to see a radical, optimistic vision for the future of the UK. The reason is simple: they want something to get behind. A national sense of mission that unites the efforts of business, government and the public at large with a real sense of purpose.

“There are those who would argue that Brexit is that mission, but they have entirely missed the point. Brexit is a process, not an outcome. It has been allowed, by government and opposition alike, to cloud over the rudderlessness of recent years; a convenient excuse to plough attention and resources into a process of disconnection, rather than to take the far harder step of re-imagining Britain for the future and then marshalling all available brainpower, management capacity and financial resources into making it happen.” 

Marshall will also highlight the importance of a thriving private sector, saying:

“The wave of business investment we all want to see depends, intrinsically, on the level of business confidence in the stability and stance of governments.

“Yet our business communities are worried about the rhetorical assault on capitalism and wealth generation emanating from some quarters of Westminster. Those who seek to divide our business communities by pitting the small against the large, or by demonising some sectors while championing others, must be challenged. Those who suggest that the solution to poor procurement and questionable outsourcing decisions by government is the wholesale nationalisation of entire swathes of the economy must also be challenged.

“Facing down the superficially seductive argument for nationalisation won’t be easy – but it’s vital to the future success of communities and prosperity all across the UK.”

The latest Corruption Perceptions Index ranks 180 countries according to their level of public sector corruption.

New Zealand, Denmark and Finland take the top three places as the world’s least corrupt countries, while Syria, South Sudan and Somalia are bottom of the list.

Published by Transparency International, the Index places the UK at No. 8 on the list – up from 10th place last year.

Based on surveys of business people and on expert assessments, the Index highlights links between corruption, press freedom and the decline of civil liberties around the world.

The least corrupt region is Western Europe, with the two worst being Sub-Saharan Africa and Eastern Europe and Central Asia.

The Index uses a scale of 0 to 100, where 0 is highly corrupt and 100 is very clean. Over two-thirds of countries in this year’s list have a score below 50, with the average being 43. Chart-topping New Zealand scored 89, with the UK on 82, the USA on 75, Russia on 29 and Somalia on 9 points.

Commenting on the UK’s rise up the table, Transparency International’s Duncan Hames said it is encouraging to see perceptions of corruption in the UK’s public sector falling, but warned that more work needs to be done in other sectors to prevent money laundering and to stop UK-based professionals enabling corruption from around the world.

Over the last six years, many countries have made little or no progress in tackling corruption, with the positions in some – including Bahrain, Liberia and St Lucia – actually worsening.

“Smear campaigns, harassment, lawsuits and bureaucratic red tape are all tools used by certain governments in an effort to quiet those who drive anti-corruption efforts,” Patricia Moreira of Transparency International pointed out.

The full results can be seen at www.transparency.org.

For country specific information and free ‘Doing Business in…’ giudes, please contact us on 01603 729712 or email [email protected]

Nova Fairbank our Public Affairs Manager offers some advice

“Ask employers about the key challenges facing their business and many will answer ‘attracting and retaining a skilled workforce’.   There are several sectors in Norfolk including construction, engineering, manufacturing and the tech sector that are facing this particular challenge.  Many sectors are also faced with an aging workforce – this can only be rectified with more young people being recruited into those sectors.

“When young people are planning their futures they need to consider many aspects and keep their options open.  Students selecting their options for GCSEs should try to include the STEM subjects which will give them access to the broadest range of future job opportunities.  For those students moving into further education, they should consider the benefits of apprenticeships, as well as university degrees.   An apprenticeship will give them access to both qualifications, but will allow them to earn whilst they learn.  A qualification and experience of work is very attractive to employers.

“Employers consider many attributes when looking to recruit a young person – not just the qualifications they have gained at school or college/university.  They are looking for great ‘soft skills’ such as: good communication; the ability to be part of a team; and all-round computer skills etc.  But the greatest asset that every employer looks for is ‘the right attitude’.  Many employers are willing to train their young people, but this is only possible if that person has the right attitude – if they can approach employment with a positive, can-do attitude, then great things can be achieved.”

Commenting on the new version of the National Planning Policy Framework, Jonathan Cage, Chair of the Norfolk Chamber Planning & Development Group and Managing Director of Create Consulting Engineers said:

“Planning revolutions have often been promised, but usually turn out to be a false dawn, given that businesses report that it never seems to get easier, faster, or cheaper to secure planning permissions and crack on with development.

“The last time the government upended the planning system six years ago, the framework was slimmed down, but the bureaucracy, delays and cost were not. This time things must be different.

“Business will welcome measures to increase house building, which will provide much needed homes for the workforce, stimulate the construction sector and boost many other firms across supply chains. 

“Building new garden towns and villages in areas of greatest need is sustainable and sensible, but this must not come at the expense of housing growth in other less vibrant parts of the country. To rebalance the economy, the new housing rules must not allow councils to scale back housing targets in areas with economic growth potential. 

“Investors, councils – and indeed local communities – have all been guilty of finding reasons why developments should not take place.  The policy changes need to speed up the process, remove blockages in the system and, above all, bring about a change of mind set to get more quality homes built faster. 

“There’s often a gap between rhetoric and reality when it comes to planning decision-making. If well-resourced and experienced, councils can deliver quality and consistent decision-making, but they must also be willing to implement agreed policy, even if that causes local unpopularity.”

Commenting on the Prime Minister’s speech at the Mansion House today (Friday) outlining the government’s Brexit objectives, Julie Austin, International Trade Manager for Norfolk Chamber said:

“Norfolk businesses will appreciate the Prime Minister’s ambition and her determination to secure a wide-ranging agreement in the next phase of negotiations with the EU. Theresa May’s commitment to supporting the interests of business and enterprise will reassure firms that their needs will be front and centre in the negotiations ahead. 

“Businesses will still have to wait for some of the detail they need to plan ahead with confidence, but the Prime Minister was clearer and more realistic than ever before on the political choices and economic trade-offs ahead. 

“The practical issues that matter for business and trade must now become the absolute priority. The time for high-level statements is over, and attention must now turn to the painstaking process of getting the details right.

“Over the next fortnight, it is imperative for both sides to come to a swift agreement on transitional arrangements, to give businesses further certainty over short-term trading conditions, and to move swiftly on to detailed and constructive discussions about the future UK-EU relationship.  Businesses on both sides of the Channel will be dismayed if the parties opt for high-volume megaphone blasts over pragmatic and practical concerns.”

Commenting further on aspects of the Prime Minister’s speech, Anastassia Beliakova, Head of Trade Policy at the British Chambers of Commerce, added:

On tariffs and mutual recognition, she said:

“Although some barriers to trade are inevitable as the UK leaves the EU, there are some that can and must be avoided.  The Prime Minister’s commitment to seek a tariff-free trading arrangement, and to aim to minimise costs and red tape behind the border, will be welcomed by businesses on both sides.”

On customs and border management, she said:

“Much of the debate has been focussed on the merits and drawbacks of whether the UK should be part of a customs union with the European Union, but there are many other issues related to cross-border trade that need as much, if not more, attention.

“Transit of vehicles, validity of licences, inland health and safety checks on goods, and the waiving of unnecessary declarations are all critical areas for negotiations – and would significantly ease future burdens on businesses. This is the sort of the detail that needs to be addressed, and swiftly, to give businesses greater confidence.

“Having reiterated the proposal for a customs partnership with the EU, whereby the UK collects two different sets of tariffs, the Prime Minister must now outline how this could work in practice – as this could potentially be very challenging for businesses to implement. The ‘highly streamlined option’ would also require a significant amount of investment, work and cooperation from customs on both sides – and if this is the preferred approach, the UK and the EU must agree next steps without delay.”

On future regulatory cooperation, she said:

“The Prime Minister is right to highlight sectors like aviation, chemicals and pharmaceuticals, where future co-operation between the UK and the EU is both desired by industry and eminently sensible. A pragmatic approach would seek to avoid the replication of processes and agencies, where a joint approach makes clear business sense.”

On the maintenance of a unified market within the United Kingdom, she added:

“We welcome the Prime Minister’s steadfast commitment to maintaining the integrity of the United Kingdom as a unified market for business. The ability to trade between the nations of the UK without expensive, unnecessary additional compliance measures is absolutely crucial.”

On immigration and labour markets, Beliakova said:

“At a time of critical labour shortages in many parts of the UK, a pragmatic approach to immigration is sorely needed. Business welcomed the recent clarity from government around the rules for EU nationals arriving during the transition period, but will want to see an ambitious agreement between the UK and the EU that allows businesses across the continent to get the skills they need in future.”

 Monthly headlines:

• UK GDP growth for Q4 2017 revised down and the trade deficit widens amid rising imports
• UK unemployment rises with productivity growth at its strongest since the economic downturn
• GDP growth in Germany and France reach six-year highs as the global economy strengthens

The second official estimate for Q4 2017 UK economic growth (GDP) stood at 0.4%, down from the previous estimate of 0.5%. The downward revision was driven by industrial output growing by slightly less than previously estimated.

In the three months to December 2017, the number of people in employment rose by 88,000. However, unemployment increased by 46,000 over the same period and the UK’s unemployment rate rose from 4.3% to 4.4%, the first increase since August 2016.

Germany’s economy, the largest in the Eurozone, grew by 0.6% in Q4 2017, outperforming the UK economy for the fourth successive quarter.  Q4 growth was largely driven by an improvement in their net trade position with exports growing by 2.7%, more than offsetting the 2% rise in imports.

For full details of this month’s economic review click here.