Midland business leaders have welcomed the Chancellor’s commitment to help increase exports.

George Osborne announced in his Budget that he was doubling the Government’s export finance to £3billion at the same time as cutting the interest rate.

The Coventry and Warwickshire Chamber of Commerce has, which has an International Trade Hub at its HQ in Coventry – including UKTI international trade advisers, has been campaigning and supporting increased overseas trade for many years.

And Angela Tellyn, partnership manager at the Coventry and Warwickshire Chamber of Commerce, said the announcement from the Chancellor was welcome.

She said: “Overseas trade is key to rebalancing the economy and it’s vital to see current exporters finding new markets, and those who have never exported begin to look abroad to discover new markets.

“So we very much welcome the Chancellor’s announcement around export finance because that is very often cited as a barrier to trading overseas trade. This should help, in part, to remove that barrier.

“Businesses should take this opportunity now to look abroad to help themselves and, in turn, the whole economy grow.

“Our International Trade Hub is very much ‘open for business’ to support those firms who want to begin or increase trade abroad.”