Global Britain

Ben Bradshaw Excerpts

Monday 3rd February 2020 Commons Chamber

[Dominic Raab]

We have said not only in the written statement but in the political declaration that we want financial services to proceed on the basis of the kind of co-operation that involves recognition of the equivalence of regulation. We think that is the best approach for the UK but also for the relationship with the EU.

The dispute resolution mechanism will be tailored to the different fields and sectors covered by the FTA and the broader areas of co-operation. However, in the case of binding resolution, we have been clear that that would involve arbitration with both parties contributing. Typically, a chair is selected by the arbitrators who have been nominated, and that does not involve the jurisdiction of the European Court of Justice.

[Mr Ben Bradshaw (Exeter) (Lab)]

If the 15-year damage to our economy is not to be the 6.7% or 9.3% respectively for the so-called Canada deal or no deal, which the Government are now trying to rebadge as an “Australian deal”, what is it? And why have the Government changed their mind?

[Dominic Raab]

We are absolutely confident that the approach we are taking allows us to grasp the opportunities, including in relation to free trade and in making sure we have full control over our own laws and are fully economically and politically independent.