Oral Answers to Questions

Angus Brendan MacNeil Excerpts

Thursday 13th September 2018 Commons Chamber

[George Hollingbery]

It is important to point out to my hon. Friend and, indeed, to the House that our duty of sincere co-operation means that we are only exploring information at this stage since we may not, cannot and should not explore actual free trade deals. However, the UK-US trade and investment working group has now met on four occasions and will meet again in November in Washington. We want our future trade agreements to work for all sectors and regions of the UK, including the UK’s highly valued ceramics industry in Staffordshire, for which my hon. Friend is a doughty champion. The Secretary of State will be chairing the consultation in Birmingham on 1 October. My hon. Friend recently wrote to me requesting a meeting for that particular sector, and we will be exploring dates shortly.

[Angus Brendan MacNeil (Na h-Eileanan an Iar) (SNP)]

A potential free trade deal with the United States of America is reckoned to be worth about 0.2% of GDP, but the loss of GDP with a mere FTA deal with the European Union is 6%, which is a loss thirty times greater than the gain from America. Even if the Minister got an equivalent free trade agreement with the rest of the world, he would need a world population of 15 billion —twice the current population—to make up the gap. There are only 7.5 billion people on earth. Where are the Government going to make up the gap in GDP loss that this Brexit is costing the United Kingdom?

[George Hollingbery]

I point out to the hon. Gentleman that the British people voted in a referendum to leave the European Union and that is exactly what we are organising. We are in the middle of negotiating with the EU on a wide-ranging and comprehensive package of proposals that will allow trade to continue with the EU hopefully much as it does now.