Trade with the European Union

Lord Collins of Highbury Excerpts

Monday 21st March 2022 Lords Chamber

[Lord Grimstone of Boscobel (Con)]

My Lords, the noble Viscount includes a number of points in his question. As Minister for Investment, one of my top priorities is securing increased investment flows with Europe. On trade, I am pleased to say that he is right: over the past two years, there have been noticeable changes in UK trade. Of course, factors associated with the Covid pandemic, global recession and EU exit do not always make it easy to disentangle that, but I am confident that both trade and investment will increase in due course.

[Lord Collins of Highbury (Lab)]

My Lords, given that the EU committee found that the significant barriers that remain despite the trade and co-operation agreement will particularly affect smaller businesses, what steps are the Government taking to ensure that their trade priorities take these businesses into account?

[Lord Grimstone of Boscobel (Con)]

My Lords, one of the reasons the Government have launched the export support service is to support UK businesses—it turns out that is primarily SMEs—with one-to-one advice on exporting to Europe. They can find all this information in one place. It is working well. There is a good volume of inquiries coming through, but I agree with the noble Lord that we have to do all we can to help SMEs in this important area.