Scotch and salmon lead bounce back in food exports
Recovery in sales of scotch and salmon to non-EU countries are leading a bounce back in exports, according to the latest figures from the Food and Drink Federation.
Sales to non-EU countries grew over 8% compared to 2020, driven by a strong recovery in exports of whisky (+18.7%) and salmon (+20.6%), and with breakfast cereals and soft drinks back above pre-pandemic levels.
Exports to East Asia are recovering faster than in most other regions, with exports to China of food and drink worth over £800m and close to overtaking imports. The boom has been aided by a new UK-Japan trade agreement entering into force in 2021.
Israel is an important trade partner for UK food and drink companies, with potential to expand UK trade with Israel through the renegotiation of the existing preferential trade agreement. We have seen growth in both exports (+26%) and imports (+22%) with the country since 2020.
In Central and South America, the sector saw exports increase by 62% since 2020 – above pre-pandemic levels.
Food and Drink Federation Chief Executive Karen Betts said: “These figures are encouraging, with rises in UK food and drink exports across the Americas and in Asia. Less good was our export performance in established markets in Europe and Australasia. But we have a good base to build on, and the FDF is committed to working closely with the UK government and devolved administrations to ensure that their weight is fully behind further building exports in great British food and drink.
“With the UK Government rightly determined to improve the performance of food and drink on the global stage, we anticipate further new opportunities for UK exporters to emerge overseas over the coming years. However, a key priority for our sector remains improving the implementation of the UK-EU trade agreement. Sales to the EU fell by 12% compared to 2020, with much of the drop in the first quarter of 2021 when many UK businesses paused movements and supplied customers with stockpiled goods. The FDF’s research shows there were significant improvements towards the middle and end of the year.
“One unknown is the impact of the war in Ukraine. Already we are seeing the conflict push up energy prices and impact on supplies of certain key ingredients, including vegetable oils, cereals and white fish, all of which are vital for many of our importers.”
John Whitehead, Director of the Food & Drink Exporters Association said: “We are pleased to see that exports are recovering in certain regions and in selected product categories. Finding customers in new markets is particularly challenging at a time when supply chain issues, shipping costs and inflation are impacting pricing, and our members continue to report major issues with bureaucracy as they strive to retain sales and win new business. With travel now opening up, our team is rebuilding its programme of UK groups at international trade shows to connect UK exporters with potential partners across the US, Europe, Japan and ASEAN countries all of which have great potential. We urge Government to increase its support for trade shows, a vital tool in accelerating international growth.”
Streets cover Making Tax Digital, cyber risk in light of the Ukraine conflict, year end tax planning and more in latest business support update
In its latest Business Support Update, Streets Chartered Accountants dives into Making Tax Digital, the opening of its new Birmingham office, cyber risk in light of the Ukraine conflict, year end tax planning, and more.
Making Tax Digital applies to all VAT registered businesses from April 2022. Are you ready?
Since April 2019 most VAT registered businesses with a turnover over £85,000 have been within Making Tax Digital (MTD) for VAT. This means that they have had to keep digital records and submit their tax returns via MTD compatible software. From April 2022 MTD for VAT is being extended to all VAT registered businesses. In practical terms this means that they will no longer be able to submit their VAT returns via the old HMRC portal.
New Birmingham office sees Streets become a truly pan regional assurance and advisory firm
Streets have opened a new office in Birmingham as part of its firm wide growth strategy. The new office, located at the Birmingham Business Park, along with well-established offices across the Midlands – including Lincoln, Luton and Northampton – mean Streets are now a pan regional player covering the East, West and South East Midlands.
Streets appoint Martyn Shakespear as head of banking & finance
Streets have announced the appointment of experienced banking and advisory specialist, Martyn Shakespear, as head of banking & finance. Martyn joins Streets with over 40 years’ experience of providing funding advice to SMEs and corporates.
The Streets Sessions Podcast – Do businesses face an increased cyber risk in light of the Ukrainian conflict?
In this session, cyber security specialists Rick Jones, CEO of DigitalXRaid, and Oliver Pinson-Roxborough, CEO of Bulletproof, discuss the heightened level of cyber threats faced by businesses in light of the Ukrainian conflict. In discussion they also provide practical guidance and advice to businesses about managing cyber threats and ensuring cyber security.
What does 2022/23 look like for payroll?
As we head into the final few weeks of the 2021/22 tax year, and following last year’s Autumn Budget announcements and the news of the National Insurance rise that preceded it, what do those charged with payroll need to know to start preparing for the new tax year on 6th April?
Year End Tax Planning Guide 2021/22
With the end of the tax year fast approaching, now is a good time to review your business and personal finances to ensure that they are as tax-efficient as possible. As your accountants, Streets can work with you to make sure your business and personal finances are in a strong position to weather whatever lies ahead. This includes planning to make the most of the tax-saving opportunities available to you, particularly ahead of the tax year end.
Leeds-based VR games studio acquires counterpart
Leeds-based VR games studio XR Games has acquired VR pioneers Fierce Kaiju for an undisclosed sum.
Founded by Dan Roberts and Paul Colls in July 2014 after working on some of the biggest titles in the global games industry — including Grand Theft Auto, Red Dead Redemption and Call of Duty — Fierce Kaiju’s team and IP will join the XR Games family immediately, as the Leeds-based studio continues its period of growth. This acquisition also sees industry veteran Dan Roberts join XR Games as art director.
Following an illustrious 11-year career at Rockstar Games working on the record-breaking Grand Theft Auto series, Dan went on to join Activision Blizzard studio The Blast Furnace in 2011, working on titles such as Call of Duty and Pitfall! before founding Fierce Kaiju in 2014.
Fierce Kaiju was set up to bring the expertise honed from years of working with some of the world’s biggest developers and publishers on triple-A titles to exciting new arenas, with a focus on developing for the growing Virtual Reality market.
In 2014, Fierce Kaiju developed Viral for the first Oculus store, a VR shooter that launched with Samsung’s GearVR headset, before going on to develop and publish Viral Quarantine and Viral EX.
In addition to developing and publishing its own games, Fierce Kaiju also worked as a full-service studio to help game makers build projects from the ground up, as well as supporting other development requirements.
Fierce Kaiju has built a robust reputation for industry-leading work: a reputation that originally caught the attention of Yorkshire-based gaming entrepreneur Bobby Thandi.
“From the first time I met Bobby and the team, I knew there was a shared vision,” says Dan Roberts, Fierce Kaiju co-founder. “At Fierce Kaiju we love experimenting with new and disruptive technology and turning it into something immediate, accessible and fun, and it’s clear that Bobby and the team at XR Games share the same values.
“There’s a tangible sense of excitement and energy when you enter the XR Games studio after their huge success with ‘Zombieland: Headshot Fever’ in 2021, and we knew we wanted to be a part of that.”
XR Games founder and CEO, Bobby Thandi said: “For our first acquisition, we knew we wanted to bring in a team that shared the same vision as XR Games. The experience that Fierce Kaiju brings from working at places such as Rockstar Games and Activision Blizzard will be invaluable when it comes to supporting XR Games’ trajectory.
“As the studio grows in size and takes on multiple projects with larger budgets, this expansion will ensure we can scale safely and effectively. We’re fiercely proud of our roots, and while we’re still based in Leeds, our titles are sold around the world, so with Fierce Kaiju joining the family, we’re confident that our reach will grow even further as we continue developing exciting new gaming experiences for years to come.”
Investing in manufacturing skills, jobs and technology to be key part of Brighouse Deal
Building on Brighouse’s manufacturing heritage will be one of the key parts of The Brighouse Deal – the £19 million plan to improve the town for the future for residents, businesses and visitors.
The investment will be used to develop skills, fund apprenticeships and allow local businesses to see how Industry 4.0 technology can support business productivity and efficiency.
It will be a pilot to test out the best working models and practices businesses can use to help them grow, and encourage other businesses to consider setting up in the town that continues to have one in six workers employed in the manufacturing sector.
Brighouse has a strong history of being an innovator in industry dating back to the 18th century when the River Calder provided the power for the flour milling industry and textile mills. But, like many industrial towns in England, manufacturing prospects declined steeply after World War One.
The area has been successful at replacing the jobs of the first industrial revolution with the advanced manufacturing that will characterise the current fourth industrial revolution.
The team behind The Brighouse Deal want to capitalise on this and use it as a catalyst for driving future growth across the area which is why developing industry and skills is a key part of the investment secured from government.
The money will be used to:
- Increase capacity for apprentices with an ambition to secure 70 additional roles across the town.
- Develop a new Brighouse Industrial Hub which will showcase new advanced manufacturing methods and how data analysis of processes can be used to help increase productivity and efficiency.
- Invest in innovation by encouraging more research and development in existing firms and attracting knowledge intensive businesses to the area.
Construction work starts on Leeds’ £26.5m new White Rose Rail Station
Construction work has started on Leeds’ £26.5 million new White Rose Rail Station delivered in partnership by the West Yorkshire Combined Authority, Leeds City Council, Munroe K, Network Rail and the Department for Transport.
The rail station between Morley and Cottingley on the Transpennine route will make it easier to walk, cycle and use public transport, connecting more people with job, training, education and leisure opportunities.
The announcement – made during MIPIM, the international property investment and economic development expo – is just one example of the region’s commitment to transport investment that supports economic growth.
Alongside a fully accessible station with cycle storage next to the White Rose Office Park, the scheme also includes better walking and cycling routes between Cottingley, Churwell and Millshaw, as well as the White Rose Shopping Centre and the bus interchange.
Tracy Brabin, Mayor of West Yorkshire, said: “Growing our economy is a key priority, but we are very clear that growth needs to benefit everyone in our region. To achieve this, we need a reliable and efficient transport system, which is why I am pleased to see work start on our new, fully accessible rail station at White Rose.
“In my manifesto, I committed to improving public transport, connecting more people with opportunities and helping tackle the climate emergency on our way to becoming a net zero carbon economy by 2038. The White Rose Rail Station will help us do all of these things.”
Cllr Kim Groves, the West Yorkshire Combined Authority Transport Committee Lead Member for Public Transport, said: “White Rose Rail Station will bring new opportunities for local communities, improving transport links and acting as a catalyst for regeneration, including housing and jobs.
“It is more important than ever that we continue to invest in a modern, accessible transport network, which supports economic growth by connecting more people with jobs, training and education.”
Leeds City Council executive board member for infrastructure and climate, Cllr Helen Hayden, said: “It is fantastic news that we’re starting to build the new White Rose Railway Station in Leeds. It will enable better connections, making it easier for people to access jobs, education, training and leisure while supporting travel in the local area. It will also underline the council’s commitment to tackling the climate emergency and delivering the Connecting Leeds transport ambition of being a city where you don’t need to own a car.”
David Aspin, Founder & CEO of Munroe K, said: “To see work begin on site of the new White Rose Railway Station is extremely exciting. It’s the culmination of many, many hours of hard work from all of our partners from the West Yorkshire Combined Authority, Leeds City Council, Network Rail and Spencer. The new station will benefit not only employees on the White Rose Park, but those in our surrounding communities too, through improved accessibility, safe well-lit walkways, as well as upgraded cycle and walking routes.”
The scheme, which is being led by the Combined Authority and Munroe K, will receive money from the Leeds City Region Transforming Cities Fund, the Leeds Public Transport Investment Programme and £5 million from the Department for Transport’s New Stations Fund, as well as contributions from Munroe K.
Construction work is expected to continue into early 2023.
Full steam ahead for York’s Great British Railways bid
City leaders have submitted York’s bid to be the home of the headquarters of Great British Railways.
The bid follows extensive consultation with city and regional partners and rail leaders. It includes an extensive list of reasons why York would make the best home for the headquarters of Great British Railways (GBR). Amongst these are:
- York is at the heart of the UK rail network.
- there is no better place to achieve the Government’s Levelling Up ambitions, helping to lift Yorkshire’s strongest economy into the top quartile of UK cities, providing opportunities to millions of people, businesses and communities across Yorkshire and the North East
- York Central presents a unique opportunity to create Britain’s biggest rail cluster – it’s the largest city centre brownfield site in England and already has Enterprise Zone Status and outline planning permission for 2,500 homes and 1 million sq ft of Grade A offices – Network Rail are already a key landowner in the site, which also includes the £60m expansion of the National Railway Museum
- equidistant from London and Edinburgh, locating in York would help GBR to strengthen the ties between England and Scotland, as highlighted by the Union Connectivity Review
- York’s rail workforce is young, skilled and diverse – the breadth of York’s skills base, across rolling stock, engineering, planning and the digital future, creates an incredibly strong sector, which can both contribute towards and benefit GBR
- in York, we are committed to developing an internationally renowned rail skills centre of excellence – York’s rail businesses are working with us to develop their workforce including social mobility – the White Rose University cluster includes significant rail expertise such as the University of York’s Institute for Safe Autonomy, while York is already home to Network Rail’s Operating and training centre, controlling train operations across the North East of England
- regularly topping best place to live polls with outstanding childcare and education; people want to come to York, whether to work, to study or for leisure
- within only an hour’s train travel of York is 10% of the most deprived areas in the UK, with our travel-to-work area encompassing West, South, North and East Yorkshire, Teesside and the North East – placing GBR in York, immediately next to the railway station, unlocks huge private sector investment and economic opportunity across the north east
- our railway heritage is unrivalled, York is the most important location outside of London for the running of the railways – we’re the place that not only built the trains and carriages, but also the rail networks, business models, management expertise and innovation, we’re home to the National Railway Museum, and to 100 rail companies and 5,500 rail jobs focussed on the operation and development of the network, with a significant private sector cluster providing services key to GBR’s mission
Healthcare tech companies demonstrate products at showcase event
Tech companies working in digital health, machine learning and artificial intelligence have demonstrated their their products for an audience including representatives from regional healthcare providers, University of Sheffield and Sheffield Hallam University, and local government.
Eupnoos, one of the startups to present, is developing technology to allow anyone with a smartphone to understand the health of their lungs. Based on electroacoustic signal processing, their product creates a platform for smartphone-based clinical lung tests as well as symptoms-guided assessments. This will help doctors and clinicians measure responses to different treatments and guide clinical decisions.
Arshia Gratiot, Eupnoos founder and CEO, said: “It’s been a fantastic opportunity to meet so many representatives from healthcare providers and universities across Yorkshire. We look forward to building local partnerships and working closely together to develop digital health technologies for better and high-quality healthcare.”
Other startups taking the stage turned their focus to machine learning and using data to allow faster, more accurate diagnoses for different types of health conditions. Medwise.ai is building a smart recommendations tool for primary care providers, while Limbic has developed a conversation AI that assists patients with self-referrals. Holly Health delivers an intelligent, personalised support service targeted at helping customers live more healthful lifestyles and achieve lasting lifestyle changes, and Gold Standard Phantoms specialises in test devices to revolutionise MRI.
The event marked the launch of the P4SY (South Yorkshire) Accelerator Programme, designed to support up to 30 companies in South Yorkshire to focus on bringing breakthrough health and medtech to market. The six-month programme will help them achieve key milestones in their development, with the goal of securing outside investment and building lasting collaborations and partnerships within the region.
“Every company within this cohort is working hard to bring a groundbreaking product to market which will have a real impact on healthcare outcomes for people living in the South Yorkshire region,” said Nathan McNally, Health & Life Science Director at Capital Enterprise. “South Yorkshire is home to a growing innovation cluster of companies and founders working in sectors with high growth potential, and P4’s presence here is a key part of our strategy to serve fast-growing companies all across the UK.”
P4 is a strongly established and successful startup accelerator which supports leading precision medicine startups across the UK and internationally. The ‘four Ps’ are predictive, preventative, participatory and precision.
Cllr Tim Cheetham, Cabinet Spokesperson for Regeneration and Culture, said: “Once again, we’re seeing TEAM SY provide a platform for South Yorkshire businesses to thrive. It’s fascinating to see such great innovation be developed and accelerated in our region and allowing the tech ecosystem here to further develop.”
Yorkshire paint firm expects its US exports to top £100k this year
For the first time Leeds-based paint maker Brouns & Co expects to top £100,000 in US exports this year after a year of growth in the market.
The company make traditional paints based on linseed oil made from West Yorkshire-grown flax. Founder and CEO Michiel Brouns, who has been working with International trade advisers from the Department of International Trade in Yorkshire, has seen huge interest in the Yorkshire flax-based products.
He said: “Linseed paint has been used for hundreds of years to protect and coat wood both inside and outside, and the US architectural heritage means there are enormous numbers of timber-build buildings, hence we have been working to raise awareness of the products Stateside.”
Brouns & Co is one of only a handful of linseed paint manufacturers in Europe.
Airport campaigners call on Leeds Bradford Airport’s owners to invest £125 million in West Yorkshire
One week after Leeds Bradford Airport (LBA) withdrew its controversial expansion plans, the Group for Action on Leeds Bradford Airport (GALBA) has called on the airport’s owners, AMP Capital, to invest £125 million in West Yorkshire home insulation businesses to cut fuel bills and reduce emissions. Press reports suggest that the plan to extend the airport’s existing terminal will cost AMP £25 million, whereas they would have spent £150 million building a new terminal.
Chris Foren, chair of GALBA, said: “People in Leeds and Bradford need two things right now: a way to cut their fuel bills and climate-friendly jobs. Home insulation is the quickest and most effective way to save energy and cut costs, at the same time as reducing emissions. But there aren’t enough home insulation firms around to do all the work that’s needed.”
“AMP clearly has the money available and has said it’s interested in sustainability and creating employment in our region. So we’re calling on them to partner up with West Yorkshire councils to invest in home insulation businesses and increase the size of this vital industry. Doing that would create jobs, cut bills and reduce emissions – it’s a win, win, win.”
He added: “AMP is a massive multinational, with billions to invest. Our local councils have already super-insulated some homes but if they get together with AMP, so much more could be done – especially in our poorer communities. GALBA is going to post AMP a copy of our report, A Green New Deal for Leeds City Region, which shows the enormous potential for good quality jobs that would also tackle the climate crisis with the right investment.”
GALBA has also responded to claims made by Vincent Hodder, LBA’s CEO, that the airport will continue to expand despite having pulled its planning application. Chris Foren explained: “Mr Hodder knows very well that there is a legal agreement between LBA and Leeds City Council which places a limit of five million passengers per year and applies to the previous planning permission. And his claim that LBA has permission for unlimited night flights is also incorrect as it disregards restrictions imposed by National Air Traffic Services. GALBA is keeping a close eye on what LBA does next.”
NFU writes to Chancellor outlining key areas for action in support of farming sector
In the letter to the Rt Hon Rishi Sunak, NFU President Minette Batters provides the Chancellor with an update on the economic outlook for British agriculture given the significant challenges faced by the sector.
She has warned him about the scale of the impact the Russian war in Ukraine will have on members’ businesse, and the fragility of food security, highlighting the effect the invasion will have on our food output, our food supply chains and the availability and affordability of food to consumers.
