I completely agree, because the majority of upholsterers in my constituency are exactly the same type of company—small and medium-sized enterprises that employ people locally, generation after generation.
Consumer expenditure on furniture and furnishings was almost £17.5 billion in 2017 and exceeded all other spend in the household goods sector. That represents a 21% increase from 2014. Year-on-year growth in the sector between 2014 and 2016 rose from 4.8% to 6.9%, with growth between 2016 and 2017 higher still, at 7.9%. The latest data shows that furniture and furnishing sales continued to rise into early 2018, with first and second quarter consumer expenditure 8.5% and 8.3% higher, respectively, than for the equivalent periods in 2017, despite many other retail sectors experiencing an increasingly challenging market.
In addition, trade fairs such as the biannual Long Point exhibition, held in Long Eaton, continue to attract global attention from international buyers looking to stock some of the finest sofas and easy chairs the UK has to offer. That has led to a steady increase in furniture exports since 2012, peaking at £1.19 billion in 2017 and representing a 12.4% increase on 2016 figures.
The good news does not stop there. Provisional estimates for 2018 indicate that exports for last year could be higher still, at £1.27 billion, which would represent a year-on-year increase of 7%. Taken together, these figures clearly demonstrate that the appreciation of and the demand for hand-made British craftsmanship remains high, both nationally and internationally.
It is hard to speak in this place without mentioning Brexit, but I promise the House that I will keep my remarks brief and confined to two main areas—trade and export, and standards and regulations. Like all sectors, the UK furniture industry now just wants clarity and a degree of certainty over Brexit at the earliest opportunity, in order to preserve confidence in the UK as a stable business environment in which to invest, and to assist with business planning.