Exiting the European Union and Global Trade
Edward Leigh Excerpts(7 years ago)
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Dr Fox
I would distinguish between trade deals and trade rules. We of course need rules to govern the global trade environment, which is why we are committed to the World Trade Organisation—a subject to which I shall return later—but we do not explicitly need free trade agreements in order to trade. The trading environment is regulated in lots of other ways, such as mutual co-operation agreements. The hon. Lady is quite right that we can use several tools to shape the global environment.
Sir Edward Leigh (Gainsborough) (Con)
My right hon. Friend is right that, even if there is no free trade deal, we will be no worse off than the USA or Japan. May I ask him a direct question? The Lancaster House speech was admirably clear, and I am sure he can confirm that we are leaving the EU and the single market, but there was some doubt and comment about our status inside the customs union. Is he happy to confirm today that we are leaving the customs union?
Dr Fox
Our manifesto talked about what would happen when we had left the customs union. That was the basis on which I was elected, and, I assume, on which all Conservatives were elected.
Most of us in this House and, according to the polls, in this country believe in the principles of free trade and the benefits that it brings, yet in today’s world free trade is in need of a champion. For the first time in decades, the established order of fair, free and open global commerce, which has done so much to enrich and empower the world’s nations, is under threat. In April, the World Trade Organisation noted that, in 2016, world trade in goods grew by only 1.3%—the first time since 2001 that trade has grown more slowly than GDP. Yet the threat to growth and prosperity is going largely unrecognised. Globally, there are signs of an increasing tendency towards protectionism. Barriers to trade are going up across the world. A particularly worrying report by the WTO highlighted the acceleration in protectionist measures since the 2008 financial crash. Some of the worst culprits are the countries of the G7 and G20. The nations, including our own, that have gained the most from free trade are at risk of forgetting their own principles, yet protectionism hurts those whom it purports to help. That is especially important as the expansion of global production chains sees intermediate goods cross multiple borders before a final product is made. It means that barriers on imports damage a nation’s exports.
Oral Answers to Questions
Edward Leigh Excerpts(7 years, 7 months ago)
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Wendy Morton (Aldridge-Brownhills) (Con)
Sir Edward Leigh (Gainsborough) (Con)
The Parliamentary Under-Secretary of State for International Trade (Mark Garnier)
The Department is working across the UK, as well as in both current and future export markets overseas, to help British businesses. We are helping them to export their goods and services, identify new export opportunities and win those export sales. We are doing this digitally, through the GREAT.gov.uk website, and in person, through our network of international trade advisers across the UK and through our overseas staff in 109 countries.
Mark Garnier
May I refer my hon. Friend, who is a champion of businesses in her constituency, to the GREAT.gov.uk website? Although it has been going for only one month, 174,000 users have visited it, more than 6,000 users have already made use of our selling online overseas services and nearly 1,000 businesses have created a profile on our “Find a buyer” service. This was highlighted to all hon. Members when the Department sent out our MPs’ toolkit, so that all MPs can help their constituents to find new markets and raise their eyes to the horizon.
Sir Edward Leigh
With only 5% of businesses trading directly with the EU, surely leaving the internal market will allow us to relieve the other 95% from the shackles of over-regulation? Will the Minister say a bit about the balance his Department is going to strike between inward and outward investment?
Oral Answers to Questions
Edward Leigh Excerpts(7 years, 8 months ago)
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Sir Edward Leigh (Gainsborough) (Con)
The truth is that this Parliament is, always has been and always will be sovereign, so Parliament could overcome any trade deal it wanted. The question we have to ask ourselves is whether Parliament should resist the will of the people.
Greg Hands
My hon. Friend makes a very good point. I am not going to add anything to what the Secretary of State said earlier about the Court judgment, which has just been released.