The government has announced that import tariffs on a variety of goods, such as flowers, fruit juices, and chemicals, will be temporarily lifted for two years, ahead of a small business-focused conference.
At the event in Warwickshire later today, Business Secretary Kemi Badenoch is set to reveal a £660 million investment initiative for the "northern powerhouse", with the conference also featuring appearances by Prime Minister Rishi Sunak and various Cabinet members alongside business figures.
Business Minister Kevin Hollinrake commented on the initiative: "By taking advantage of Brexit freedoms, we aim to reduce the import costs for SMEs that deal in goods ranging from flowers to car parts and leathers, thereby offering consumers better value for money."He highlighted the significance of SMEs in the UK, noting that they constitute approximately 99.9% of all businesses, underscoring the government's commitment to supporting their growth and success.
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