FoB Chief Executives Weekly News for 15th November 2021

Barclays Economic Update: UK Gross Domestic Product (GDP) Increased by 0.6% in Sep’21

According to estimated data published by the Office for National Statistics (ONS), UK GDP increased by 0.6% in sep’21, compared to an increase of 0.2% in aug’21. The level of GDP in sep’21 stood 0.6% below the pre-pandemic level in feb’20.

Production output decreased by 0.4% in sep’21, compared to an increase of 1.0% in aug’21. This was due to a decrease in electricity, gas, steam and air conditioning supply of 1.6% in sep’21. The manufacturing sector also decreased by 0.1% in sep’21, compared to an increase of 0.3% in aug’21.

However, service sector output increased by 0.7% in sep’21, compared to an increase of 0.1% in aug’21. Construction output increased by 1.3% in sep’21, compared to decrease of 0.7% in aug’21.  

monthly industrial production in euro area

UK to Set Zero-Emission for All New Heavy Goods Vehicles by 2040. The UK government announced that all new heavy goods vehicles (HGV’s) in the UK will be zero-emission by 2040. With this, the UK will become the first country in the world to commit to phasing out new, non-zero emission heavy goods vehicles weighing 26 tonnes and under by 2035, with all new HGVs sold in the UK to be zero emission by 2040.

The UK government is set to launch a new design for electric vehicle charge-points. the design highlights inclusivity and ease of use, designed with consumers, local government, accessibility groups and industry.

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Update on Northern Ireland Protocol talks
Talks between the UK and the EU continue over the Northern Ireland Protocol, despite signs of significant gaps between the two sides. Maroš Šefčovič (the EU’s counterpart to Lord Frost) suggested that the UK is not engaging on the EU’s proposals and that the UK triggering Article 16 would be met with a response from the EU. Lord Frost in a statement to the House of Lords suggested that whilst gaps remain, they weren’t prepared to end the talks yet – an indication an imminent triggering of Article 16 in the next week is not on the cards. Talks are likely to run until December now. Lord Frost shared scepticism around EU claims that their proposals would reduce customs checks by 50%, stating that the proposals only reduce the data required on a customs declaration, as opposed to reducing the number of declarations

Message From Susan Jebb FSA Chair: The impact of the food system on climate change is something that should concern us all. Almost 20% of greenhouse gas emissions in the UK come from the food system.The FSA organised the Global Conference for Food Safety Regulation and Sustainability conference this week with our key stakeholders to discuss what role regulators can play in helping the food industry find new ways of providing people with a more sustainable and safe supply of food. It is not just the science telling us our food needs to be kinder to the planet, the public are telling us this too. Our research shows more than half of us want to change our diet for the benefit of the environment.At our conference, I set out where I think regulators can help to address this urgent challenge. Our Chief Scientific Adviser Professor Robin May also spoke to the media about the potential benefits of eco-labelling to drive change in the food system. The UK’s regulatory landscape is changing fast. New technology and evolving consumer demands are making us think differently about how we regulate food businesses. This provides us with the perfect opportunity to put sustainability as well as safety at the heart of our regulatory system. We need this conversation to continue beyond the COP26. So, I have an ask: how can we work together on the challenges that climate change is creating for the food system? Please let us know, by emailing EU.International@food.gov.uk or getting in touch elsewhere.

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