European Union (Notification of Withdrawal) Bill Debate
Full Debate: Read Full DebateDepartment: Department for Exiting the European Union
Clive Efford
Main Page: Clive Efford (Labour - Eltham)Department Debates - View all Clive Efford's debates with the Department for Exiting the European Union
European Union (Notification of Withdrawal) Bill
Clive Efford Excerpts
3rd reading: House of Commons
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Committee: 3rd sitting: House of Commons
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Report stage: House of Commons
Wednesday 8th February 2017
Read Full debate European Union (Notification of Withdrawal) Act 2017 View all European Union (Notification of Withdrawal) Act 2017 Debates Read Hansard Text Read Debate Ministerial Extracts Amendment Paper: Committee of the whole House Amendments as at 8 February 2017 - (8 Feb 2017)
Wednesday 8th February 2017
(7 years, 2 months ago)
Commons ChamberRead Full debate European Union (Notification of Withdrawal) Act 2017 View all European Union (Notification of Withdrawal) Act 2017 Debates Read Hansard Text Read Debate Ministerial Extracts Amendment Paper: Committee of the whole House Amendments as at 8 February 2017 - (8 Feb 2017)
We need to acknowledge that, although trading on most favoured nation terms is not as good as continuing free trade, it is the second best option and better than continuing with our previous arrangement. If Europe applies the common external tariff to us, most favoured nation tariffs would average 4%. The net contribution that we make to the EU annually is equivalent to 7% of the value of our exports. We are currently paying 7% to avoid a charge of 4%.
Mr Lilley
The 7% is after taking account of everything we get back. If the hon. Gentleman wants to know, he should look up table 4.27 on page 159 of the Office for Budget Responsibility report, which spells out how much we will get back net when we leave, which is £13 billion—£250 million a week.