IMF Economic Outlook

Baroness Wheatcroft Excerpts

Tuesday 31st January 2023 Lords Chamber

[Baroness Penn (Con)]

I completely agree with my noble friend on the importance of the financial services Bill to unleashing further growth in our economy. It is also a really important example of how we will take the opportunity of the freedoms of Brexit to design regulation in a way that works best for the United Kingdom. Growth forecasts are inherently uncertain, but they still play a valuable role for government, economists, industry and others. Their uncertainty is a fact of life, but we should still look carefully at what they say.

[Baroness Wheatcroft (CB)]

My Lords, as of November this year, the EU will require additional travel documentation for those leaving the UK and heading into Europe. Do the Government have any estimates of the effect that will have on UK trade?

[Baroness Penn (Con)]

I do not, but I will write to the noble Baroness if there is something available on that matter.