UK economic security

In response to this inquiry scrutinising the approach to economic security within Government, our evidence focuses on the need for a clear strategy for economic security based on principles that reflect the UK’s economic and security priorities, strategic sectors and policy measures. To promote international partnerships through trade agreements, the UK government should explore avenues for diversification, transparency, and early-warning mechanisms to prevent over-reliance on a single country. For example, the UK must work closely with the EU, Japan, Canada and Australia to counter the US’s economic coercion. Furthermore, the UK could extend its economic security partnerships, such as South Korea, India and ASEAN. The UK should ultimately give serious consideration to a dedicated anti-coercion instrument.

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