Post Brexit: Economic and Political Opportunities

Debate between Lord Frost and Baroness Bull

Thursday 25th March 2021 Lords Chamber

[Lord Frost (Con)]

I very much agree with the thrust of my noble friend’s question. More than 60 trade treaties were rolled over last year, and a number of others are now under negotiation with the United States, Australia, New Zealand and so on, and we have an aspiration to join the CPTPP. My right honourable friend the Secretary of State for International Trade is doing an excellent job in this area, and I am sure she will continue to do so.

[Baroness Bull (CB)]

My Lords, the importance of international access for service industries and the integration of UK and EU services is well evidenced. Some 40% of services trade in the UK’s £116 billion creative sector flows to the EU, and the integrated review reminds us that these services enhance the UK’s soft power and its balance of trade. Will the Minister ensure that this evidence is taken into account in identifying future opportunities for the UK? If the existing evidence is not enough, can he tell us what further evidence is required to convince the Government to prioritise our world-leading, revenue-generating creative industries in future trade negotiations?

[Lord Frost (Con)]

My Lords, the UK is very much a services-based economy and the success of our services industries in all areas is essential for our future prosperity. We are well aware of the particular issues faced by cultural workers and we put forward solutions in the TCA negotiations to try to deal with them but, unfortunately, that was not possible. We are now working energetically with our European friends bilaterally to see whether we can reduce the most difficult barriers and will continue to do so.