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UK-US Trade and Tariffs
The following extract is from the statement on UK-US Trade and Tariffs on 3 April 2025.
With permission, Madam Deputy Speaker, I would like to make a statement on the United Kingdom’s economic relationship with the United States. The UK has a strong and balanced trading relationship with...
UK-US Trade and Tariffs
The following extract is from the statement on UK-US Trade and Tariffs on 3 April 2025.
With permission, Madam Deputy Speaker, I would like to make a statement on the United Kingdom’s economic relationship with the United States. The UK has a strong and balanced trading relationship with...
Twentieth opposition day debate (part one). Motion that this House recognises that the automotive industry is the jewel in the crown of British manufacturing and believes it can have a bright future creating good jobs for people across the UK; regrets that after 13 years of Conservative neglect the UK risks losing this world-class industry, putting thousands of jobs under threat; condemns the Government for its lack of an industrial strategy and the negative impact this has had on investment in the UK's automotive sector; calls on the Government to urgently resolve the rules of origin changes which are due to take effect in 2024, working with partners across Europe to negotiate a deal that works for manufacturers; and further calls on the Government to adopt an active industrial strategy to build the battery factory capacity needed to secure the automotive sector for decades to come. Agreed to on question.
Twentieth opposition day debate (part one). Motion that this House recognises that the automotive industry is the jewel in the crown of British manufacturing and believes it can have a bright future creating good jobs for people across the UK; regrets that after 13 years of Conservative neglect the UK...
To ask the Chancellor of the Exchequer, whether it is the Government's policy that the UK EU trade deal will include the financial services sector.
To ask the Chancellor of the Exchequer, whether it is the Government's policy that the UK EU trade deal will include the financial services sector.
The UK’s economic growth in the final quarter of 2017 was the weakest of any economy in the G7, and the OBR is forecasting that the UK is on course for our worst period of economic growth since the end of the second world war. However, none of these already dire forecasts factors in a no-deal Brexit, which would have a severe impact on jobs, growth and tax revenues. We know the Chancellor knows this; indeed, he has said so publicly. The question is: why are his colleagues not listening to him?
The UK’s economic growth in the final quarter of 2017 was the weakest of any economy in the G7, and the OBR is forecasting that the UK is on course for our worst period of economic growth since the end of the second world war. However, none of these already dire forecasts factors in a no-deal Brexit, which would have a severe impact on jobs, growth and tax revenues. We know the Chancellor knows this; indeed, he has said so publicly. The question is: why are his colleagues not listening to him?
It is very important that in the negotiations with the European Union we always keep the option of no deal on the table; otherwise, we will not get the best possible deal. But we are very confident of achieving a good deal. Why is the hon. Gentleman not welcoming the fantastic economic news we have had this morning: the lowest unemployment—again—since 1975, and wages up by 2.8%? It seems to me that there are an awful lot of Eeyores on the Opposition Benches.
Many Cabinet members have made their views clear about the single market and customs union. The Chancellor has said that he would like to see no tariffs with Europe after we leave the EU and no hard border in Northern Ireland. His exact words, which were in a letter to the Treasury Committee, were that he wants a deal
“that facilitates the freest and most frictionless trade possible in goods between the UK and the EU, and allows us to forge new trade relationships with our partners in Europe and around the world.”
Will the Financial Secretary therefore welcome the speech that the Leader of the Opposition gave yesterday in which he proposed a new UK-EU customs union that would, to quote the Chancellor directly, facilitate
“the freest and most frictionless trade possible in goods between the UK and the EU”
and allow us to
“forge new trade relationships with our partners in Europe and around the world”?
Many Cabinet members have made their views clear about the single market and customs union. The Chancellor has said that he would like to see no tariffs with Europe after we leave the EU and no hard border in Northern Ireland. His exact words, which were in a letter to the Treasury Committee, were that he wants a deal
“that facilitates the freest and most frictionless trade possible in goods between the UK and the EU, and allows us to forge new trade relationships with our partners in Europe and around the world.”
Will the Financial Secretary therefore welcome the speech that the Leader of the Opposition gave yesterday in which he proposed a new UK-EU customs union that would, to quote the Chancellor directly, facilitate
“the freest and most frictionless trade possible in goods between the UK and the EU”
and allow us to
“forge new trade relationships with our partners in Europe and around the world”?
I am here to speak about Government policy, as you have quite rightly indicated, Mr Speaker. However, if I may say so, Opposition Members’ zig-zagging in respect of their position on the customs union has been quite extraordinary. If I understand what is being suggested, it seems to me, at a first take, that the idea that we can be in the customs union yet go out and have a high level of control over deals and free trade arrangements with other countries just does not hang together.