(6 years, 5 months ago)
Commons ChamberI will make some progress.
This Government are clear that CETA is a good deal for Europe and a good deal for the United Kingdom. Our total trade with Canada already stood at £16.5 billion last year, up 6.4% on the previous year, with a services surplus of £1.9 billion. CETA will improve on this already strong economic partnership. It is an agreement that will potentially boost our GDP by hundreds of millions of pounds a year. It will bring down trade costs, boost trade and investment, promote jobs and growth and increase our ability to access Canadian goods, services and procurement markets, benefiting a wide range of UK businesses and consumers. More trade and more growth result in more money for the Treasury, with benefits for our publicly funded services. CETA is a comprehensive and ambitious agreement— the most comprehensive agreement between the EU and an advanced partner economy that has come into force so far.
My right hon. Friend referred to the benefits that may flow to Canada, the UK and the EU, but there is a broader point to be made today about the benefits of free trade to the whole world. I hope that the House—hopefully united, and with Opposition Members hopefully united as well—can send the signal that free trade is a good thing for the world economy and that it is free trade that brings people out of poverty on a global basis.
I think that something we share across the House is the belief that we would prefer people to be able to trade their way sustainably out of poverty rather than having to depend on aid budgets, and, of course, free trade is one of the key ways of ensuring that that happens. My hon. Friend is right: it is important that we send a signal, and I hope we can add to the signal that we sent last time that it is not possible to believe in the concept of free trade while not agreeing with any of the specific agreements that make free trade happen. It is important that we have consistency throughout.
(6 years, 6 months ago)
Commons ChamberIt was not me, nor any other Member of the House, who decided to pull Britain out of the European Union; it was the people of Britain, in a democratic referendum. I will send the hon. Gentleman a dictionary, and he can tell me which of the words “binary”, “referendum” and “democracy” he does not understand.
As my right hon. Friend has flagged, the use of national security reasons by the United States is particularly problematic, as history is littered with examples of how nations use it with a very wide definition. What work can be done with the WTO to get a better definition of what national security actually encompasses?
My hon. Friend raises an important point. In fact, the WTO has always shied away from this territory because of the implications it could have, even potentially for the integrity of the WTO itself. It is better that we find a better way to deal with the oversupply in the steel market and that no one tries to use the national security route as a remedy, because as I said, if the United States were to be successful in using it, what would stop other countries doing exactly the same on protectionist measures when it suited them?
(6 years, 11 months ago)
Commons Chamber