Asked by: Eddie Hughes (Conservative - Walsall North)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps her Department is taking to help reduce barriers to global trade for British businesses.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
We are targeting a global ‘hit list’ of barriers whose removal would deliver massive new opportunities for UK business throughout the country, estimated to be worth over £20 billion over five years.
Latest available figures show that in the year to March 2022, the Department resolved 192 trade barriers in 79 countries; 45 of these alone are estimated to be worth around £5 billion to businesses across the UK over the next five years.