Brexit: Trade Agreements

Lord Pearson of Rannoch Excerpts

Wednesday 17th January 2018 Lords Chamber

[Baroness Fairhead]

The most favoured nation clauses are in a number of those agreements, although I could not give the noble Baroness the exact number. Clearly that is one of the issues that needs to be resolved as we move forward, because most favoured nation provisions clearly need to apply where they exist. If the noble Baroness would like the number to be assessed, I will ask my officials to write.

[Lord Pearson of Rannoch (UKIP)]

My Lords, are the Government aware of the Civitas research which shows that Brussels has managed to reach free trade agreements with countries whose combined GDP amounts only to some $7 trillion, whereas four small economies—Chile, Korea, Singapore and Switzerland, which have much smaller economies than ours—have averaged FTAs with countries whose combined GDP is $42 trillion, six times that of the EU? Does this not show that the EU’s famous clout in this area is yet another fraud and that we would be far better making free trade agreements on our own?

[Baroness Fairhead]

My Lords, the UK is a very strong believer in free trade, within rules. Trade means trade within rules. As I said, we will be pursuing our free trade policy and will try to take advantage of the opportunities that exist today. In my department, we are focused on building our export sales, which we can do in the current environment and through our free trade agreements.

Brexit: Commonwealth, Trade and Migration

Lord Pearson of Rannoch Excerpts

Monday 13th March 2017 Lords Chamber

[Lord Anderson of Swansea (Lab)]

My Lords—

[Lord Pearson of Rannoch (UKIP)]

My Lords—

[The Lord Privy Seal (Baroness Evans of Bowes Park) (Con)]

My Lords, we will hear from the UKIP representative.

[Lord Pearson of Rannoch]

My Lords, do the Government agree that the EU single market will continue in long-term and irreversible decline, whereas the Commonwealth contains many of the markets of the future?

[Lord Price]

I thank the noble Lord for his question. I am not able to predict the future of any part of the world, but I can say that the UK’s trade outside the EU has grown more quickly in recent years. Over the last five years or so it has grown by 6% inside the EU but by more than 14% outside it. We therefore feel very optimistic that in a new world of trading more powerfully individually outside the EU we can boost UK exports.

Brexit: World Trade Organization Rules

Lord Pearson of Rannoch Excerpts

Monday 19th December 2016 Lords Chamber

[Lord Price]

My noble friend is right that a whole host of service agreements fall outside the WTO arrangements. The Department for Exiting the EU and the Department for International Trade are aware of those and will work diligently to ensure continuity when we exit the EU.

[Lord Pearson of Rannoch (UKIP)]

My Lords, do the Government agree with the Civitas research which finds that, if we are forced to accept WTO tariffs, EU exporters will pay some £13 billion per annum on their exports to us while our exporters will pay only some £5 billion on their exports to the single market? Given that the EU also has some 3 million more jobs through selling things to us than we have through selling things to the single market, is it not in the interests of the people of the EU, as opposed to the Eurocrats in Brussels, not to interfere with any of this but to agree to carry on as we are?

[Lord Price]

The noble Lord mentions some research. At the moment much research and many figures are bandied around, all based on assumptions about a future which right now none of us is clear about. However, I can agree with the noble Lord that any disruption in trade will be to the disadvantage of people both in Europe and in the UK, of whom there are 500 million. That is why this Government have talked about a smooth path to the new order post-Brexit, and we will work diligently to achieve that.