IoD press release UK’s reset with EU heralds a new era of collaboration

“The reset of relations between the UK and EU has been a long time coming. Our own research shows that an improved trade deal with the EU is seen as one of the top three factors that would help boost UK growth. Today’s announcements will provide British businesses with relief that some barriers to trading with our closest and largest trading partner will come down.

“The IoD has been consistently calling on the government to negotiate a Youth Mobility Scheme with the EU which, alongside the return of Erasmus+, would benefit British business by enabling the mobility of young people for work, traineeships and volunteering. We are therefore particularly pleased at the agreement to work towards a Youth Experience Scheme.

“The commitment to address the administrative burden for business is also very welcome. Ensuring tariff free access for steel products, delivering a veterinary agreement and linking the Emissions Trade Scheme will reduce much of the friction that firms grapple with at the border. Those UK exporters that are currently disincentivised from selling abroad due to red-tape could see opportunities open for growth.

“However, whilst the announcements have given us more confidence about the future of UK-EU relations, we recognise that this is just the beginning. With elements not yet set in stone, there will be further effort required to ensure that what has been promised is delivered for the benefit of the UK economy, the business environment and wider British society. The IoD looks forward to working with the government to ensure that the interests of UK business are maintained as negotiations continue.

“At a time when multilateralism is under threat, and increased protectionism looms over fair trade, greater collaboration with our trading partners is more important than ever. The government should be commended for delivering deals with the US, India and the EU within the same month, demonstrating the UK’s commitment to free trade.”

Full results

January 2025 survey

687 responses from across the UK, conducted between 13-30 January 2025. 15% ran large businesses (250+ people), 19% medium (50-249), 22% small (10-49 people), 31% micro (2-9 people) and 13% sole trader and self-employed business entities (0-1 people).

At the start of 2025, business confidence in UK economic prospects stands at historically depressed levels. Which of the following would do most to boost business confidence in 2025? Please choose up to three.

May 2024 survey

418 responses from across the UK, conducted between 14-29 May 2024. 14% ran large businesses (250+ people), 19% medium (50-249), 26% small (10-49 people), 30% micro (2-9 people) and 10% sole trader and self-employed business entities (0-1 people).

If the UK and EU were to pursue negotiations in the future, how far would you agree or disagree with the following potential reciprocal elements of a Youth Mobility Scheme?

To what extent do you feel a Youth Mobility Scheme would benefit or disadvantage your organisation?