Trade: Import Substitution
Debate between Lord Taverne and Viscount Younger of Leckie
Viscount Younger of Leckie
It is fair to say that imports are also important for the UK. It is not just exports. The balance has to be right.
Lord Taverne (LD)
My Lords, is not the best contribution that the Government could make towards improving the trade balance a firm commitment to the single market and a policy of strongly supporting the completion of the single market as a committed member of the European Union?
Viscount Younger of Leckie
My Lords, the Government could not be clearer that membership of the EU is in the UK’s interest. We will continue to make that case vigorously as we progress with our proposals for reforming the EU. We recognise that the EU supports UK jobs, prosperity and growth through increased trade and investment both inside the single market and through free trade agreements.