Digitising UK trade could unlock £250bn in growth

Sir Keir Starmer is being urged to adopt a trade plan that could unlock 250bn in economic growth and savings even if Donald Trump unleashes direct tariffs on the UK.

- DAVID MADDOX

With senior government sources now admitting that tariffs from the US on UK trade are “now looking inevitable”, despite last night’s ‘productive call between the prime minister and president, the International Chambers of Commerce (ICC) has published its plan for growth, which it says would free up billions in investment simply by scrapping outdated paper-based systems.

There was disappointment that chancellor Rachel Reeves did not mention trade in her spring statement last week as she focused on putting a squeeze on benefits to balance the books.

According to the ICC, outdated paper-based trade systems are stifling economic growth and productivity, but bold action can position the UK as a global leader in 21st-century trade. It claims that by embracing digitalisation, regulatory modernisation and strategic partnerships, the UK can create a cheaper, faster, simpler, secure and sustainable trading environment.