The Economic Impact of Brexit

Part of 1. Questions to the Minister for Economy – in the Senedd at 2:07 pm on 13 July 2022.

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Photo of Vaughan Gething Vaughan Gething Labour 2:07, 13 July 2022

We've always recognised that having left the European Union, the ability to trade would still be there, but there would be additional barriers to it. The challenge in the form of having left the European Union is that there are more barriers than would otherwise have needed to be the case. What we're still trying to do is to encourage businesses to continue that trade, to continue to want to be exporters. That's why we have a £4 million programme to support exports in the economy. I was delighted to see BBC Wales recently reporting on exporting success stories, including one within my own constituency. The challenge, though, is that it has put off a number of businesses from exporting.

I recently met with small businesses within my own constituency and the Federation of Small Businesses, and there was very direct and honest engagement around some of the challenges they are facing in both bringing goods in and in exporting as well. I had a similar position explained to me by both Chambers Wales and the Confederation of British Industry Wales as well, so there are definitely additional costs that have been introduced. Our challenge is how we'll continue to support businesses, both to raise awareness of what they will need to do and the extra costs that may bring, but still to encourage them to want to be successful exporting businesses, because that should still help to grow the Welsh economy and good-quality jobs.