For the first time in 50 years the UK has 'sovereignty' over its trade policy. It must now decide, for example, how to configure its free trade agreements, its regulations for imported food and digital trade and its trade and climate policies. Simultaneously, income distribution has become highly sensitive in the UK, policy-making power is devolved over several UK entities and the world trading system is beset by a range of tensions such as digitisation and Chinese growth. How UK policies respond to this, and who is involved in making and scrutinising them, will shape economic outcomes for generations and affect all parts of society and all regions of the UK. The Centre for Inclusive Trade Policy (CITP) will undertake INNOVATIVE, INTERDISCIPLINARY research at the frontier of knowledge, to help understand these challenges and opportunities and contribute to providing the UK with a modern trade policy. As well as being INTERNATIONAL in its approach, the CITP is designed to deliver IMPACT through targeted communications and sustained engagement with a wide range of non-academic stakeholders. Above all, our research responds to the view that trade policy should be INCLUSIVE in OUTCOMES for the people and regions of the UK, and in the FORMULATION OF POLICY by considering the views of all those affected. These five "I's" are core to the work of the CITP. Trade involves exchange and agreement between sovereign states and is thus at the interface of economics and international law; these disciplines form the core of the CITP, together with political science, international relations and business. CITP research is organised into three interrelated themes: 1. People, Firms and Places: focusses on the differential impact of trade (policy) across locations, firms and individuals (as consumers and workers) in the four nations of the UK. In this theme we will address how changes in trade barriers have differential impacts on productivity, the structure of supply chains, local labour markets and regions, and how knowledge of this can make trade policy more efficient and inclusive. 2. Digitisation and Technical Change: addresses the drivers and consequences of digitisation on geographical boundaries transforming what is produced and traded, how, where and by whom. Key here is how this impacts on trade practices and the rules governing them and the interaction between technical change, regulatory autonomy and international cooperation. 3. Negotiating a Turbulent World: considers the way that challenges to the trading system are testing the cooperation and trust that underpins open trade. CITP addresses these issues as well as regulatory coherence in trade agreements and how this may impact on domestic regulation. It will also focus closely on the stresses that trade policymaking is inducing between national and devolved administrations in the UK. Through the themes run genuine interdisciplinarity, the development of innovative methods (including in the economic modelling of trade, especially intra-UK trade), the creation of new data (e.g. on jobs in trade), major stakeholder and public engagement (citizens' juries) to identify what the UK as a whole seeks from trade policy, an Innovation Fund to encourage earlier career researchers to propose new trade research, and a commitment to communication and engagement to achieve impact and ultimately generate change. The CITP builds on the proven research and impact successes of its component Universities - Sussex, Nottingham, Strathclyde, Queens (Belfast), Cardiff, Cambridge, the European University Institute, Berkeley, Tel Aviv and Georgetown (USA). Each partner brings a distinct and complementary element to the CITP, extending its research expertise and its geographical reach and creating new synergies to establish an international centre of excellence for trade policy research.

Data-driven innovation is transforming every sector of our digital economy (DE) into a de-centralised marketplace; accommodation (AirBnb), transportation (Uber), logistics (Deliveroo), user-generated vs. broadcast content in the creative industries (YouTube). We are witnessing an inexorable shift from classical models centred upon monolithic institutions, to a dynamic and decentralised economy in which anyone is a potential producer and consumer. A gig economy, underpinned by digital products and services co-created through shorter-lived, diverse peer-to-peer engagements. Yet, the platforms that enable this DE are increasingly built on centralised architectures. These are not controlled by society, but by large organisations making commercial decisions far from the social contexts they affect. There is an urgent need to disrupt this relationship, to deliver proper governance that empowers society to take control of the DE and enables people to assert greater agency over the vast centralised silos of data that drive these platforms. We stand on the cusp of a second wave of DE disruption, driven by bleeding edge data-driven technologies (AI) and secure, distributed data sharing infrastructures such as Distributed Ledger Technologies (DLT), in which data is no longer siloed but becomes a fluid, de-centralised commodity shifting power away from tech giants to individuals and de-centralised organisations. This future Decentralised Digital Economy (DDE) enables people and organisations to work together, to trade, and ultimately to trust via frictionless digital interactions free from reliance upon centralised third parties, but often with reliance upon autonomous services. This shift in agency and power is a game changing opportunity for society to take back control over its digital economy - but we have a limited window of opportunity to get it right. We have already witnessed de-centralisation in the financial sector, where the lack of regulation and clear governance of crypto-currencies has proven a double-edged sword, allowing free exchange of value across the globe, but that is coupled with fraudulent company flotations and currency rates rigged by large mining pools. This is a consequence of technology-driven innovation unchecked by socio-economic insight; a lack of knowledge making policy makers impotent in the face of the tech giants. We are now at the tipping point of similar wide-sweeping disruption across all sectors in the DDE, a transformation that will radically redefine our models of value and how it is created, the ways in which we work, and how we use and extract value from our data. DECaDE represents a critical and timely opportunity to shape this emerging de-centralised digital economy (DDE), to develop insights that define a new 21st century model of work and value creation in the DDE, and ensure a prosperous, safe and inclusive society for all. DECaDE is a 60 month centre, comprising 21 people and building upon over 8.6 million pounds of feasibility scale UKRI/EPSRC investments in DLT and Human Data Interaction (HDI) held by the proposing team. DECaDE is a three-way partnership between the Universities of Surrey and Edinburgh, and the Digital Catapult DLT Field Labs. The latter is a full member of the consortium, through which we have co-created this research programme and with whom we will engage in further co-creation of the future DDE through diverse end-users in the public and private sector to support the competitive position of the UK