Why the UK is the cheapest place to do business in the world

By Philip Longmore | 11 February 2016 04:29:55A new report from the International Trade Union Confederation (ITUC) has revealed that UK businesses have the lowest level of global trade and least ability to attract and retain skilled labour in the EU.

Key findings in the report include:The UK lags behind many other countries in global trade, with the UK being ranked 12th on the World Trade Organisation (WTO) for 2016, a position that was only slightly improved from the previous year.

The UK is second only to Japan in global business travel, with nearly one-fifth of all the global business travellers visiting the UK in 2016, but this fell to just 17.4% in 2019.

While the UK ranks 12th in global machine parts imports, the report notes that the country is in the top ten in the World Bank’s World Development Indicators on trade.

The report notes UK manufacturers were unable to attract skilled labour because the UK’s labour market is not conducive to the growth of the global machine manufacturing industry.

The ITUC said the UK has a low skill base in the sector and was “out of step” with the rest of the world.

The organisation has been lobbying the Government to change the way that the Government negotiates and sets trade agreements with EU countries, and has called for a rethink on the UK and the European Union’s ‘G20’ agreements with China and India.

However, the Government has so far refused to engage in these negotiations.ITUC general secretary John Woodcock said the Government’s approach to negotiating a free trade agreement with the EU was not working.

He said: “It’s disappointing that the UK Government is not actively engaging in the negotiations with the other countries on these G20 agreements and the G7.”

This is not the right way to go about trade negotiations.

“We need a much more aggressive approach to trade negotiations in the G20 countries.”

He added that the government had been “unable to get the deal we want from the G8 countries” and “the Government needs to start thinking seriously about what we can offer” to the G10 countries.

“A new trade deal with the G6 should be a top priority,” Mr Woodcock added.

“As part of the G-20 agenda we must also agree a free-trade agreement with Canada and Mexico.”

The Government has committed to working with Canada to increase the value of their goods and services trade.

However the ITUC report also said that the G3 countries are in a “significant economic disadvantage” and the UK could lose out on a deal with them if it did not get a deal from the EU in 2019 as it would be unable to access services from the other G7 countries.

The G-7 and G8 nations are set to meet in Brussels for a summit to discuss the future of the Transatlantic Trade and Investment Partnership (TTIP) later this year.

Last week, the UK unveiled a ‘Brexit deal’ with the European Commission, but the report warns that it has “lost its way” on the Brexit negotiations.

Mr Woodcock urged the Government not to “simply say ‘No’ to TTIP” and instead “make an aggressive bid” to negotiate a new trade agreement.

“If the Government is serious about negotiating a new deal, it needs to take the lead and engage with all G7 and EU countries on a new G20 deal, as the Government did in the past,” he said.

The ITCUC report says the UK should follow the lead of countries such as the United States, China, India and Japan to reach a new TTIP deal with China.

“It’s the only way for the UK to maintain its competitive advantage and secure access to the world’s largest market for machine parts,” Mr Longmore said.

“In return, we need to be willing to do things like pay tariff-free access to China for UK firms.”

The report states that the “G20 deal” is the “only way” for the EU to regain its competitive edge and secure a new free trade deal.

It says the current EU trade deal is “not competitive enough”, and it has to be renegotiated.

“G7 and EEA countries should join the G15 and G20 and negotiate a TTIP agreement,” Mr Woodscock said.

“This would allow us to be more competitive with China in terms of technology, labour, and financial services, and would make it easier for companies to sell to EU markets.”

The EU should negotiate a trade agreement that would bring the UK into the G+20 as the only trading partner with China, the largest market in the entire world, and this would be a strong incentive for the Government of the UK not to withdraw from the negotiations.

“The IUC report recommends that the Labour Government create a new international trade agreement, and the government “must not be afraid of a negotiation that is not a negotiation”.

It said:”The UK Government has a

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