"The British Chambers of Commerce said the UK's inadequate economic security was putting growth and jobs at risk, urging Keir Starmer to take the lead in protecting Britain from external crises."
"Among its top priorities was for the UK to mimic the EU by creating a trade bazooka to deter other countries from making threats designed to bully Britain into changing its economic policies."
"Brussels' trade bazooka enables the bloc to impose sweeping restrictions on goods and services trade with an aggressor state, including limiting access to public procurement programmes and financial markets."
"The BCC also urged ministers to take a robust approach to the EU's Made In Europe agenda to ensure UK businesses had a role in wider European supply chains."
UK business leaders are advocating for the government to establish a trade bazooka similar to the EU's anti-coercion instrument to safeguard Britain's economic interests. The British Chambers of Commerce highlighted the risks posed by geopolitical tensions, Brexit, and the Covid pandemic, which threaten growth and jobs. They called for urgent measures to enhance economic security, including a robust approach to the EU's Made In Europe agenda and increased UK involvement in defense procurement.
Read at www.theguardian.com
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