Oral Answers to Questions

Emma Reynolds Excerpts

Thursday 26th January 2017 Commons Chamber

[Mr Walker]

My right hon. Friend is right about the importance of attracting global talent for key industries, such as our financial services sector and the FinTech industry, with which I met earlier this week.

[Emma Reynolds (Wolverhampton North East) (Lab)]

Manufacturing companies in the aerospace and automotive sectors are worried about potential delays at the border and customs duties when we leave the EU. The Secretary of State, and the Prime Minister in her speech, suggested that associate membership of the customs union might be possible. Will the Minister confirm that, unless that associate membership covers most sectors of our economy, it will fall foul of World Trade Organisation rules?

[Mr Walker]

The Prime Minister has talked about aiming for a frictionless system in which we can agree not to have tariffs or barriers, which is something we should all be aiming for in a new partnership between the UK and the EU.