EU-US Trade and Investment Agreement

Debate between John Healey and Mike Gapes

Thursday 18th July 2013 Commons Chamber

[John Healey]

If the hon. Gentleman looks, for instance, at the Bertelsmann Institute’s report, he will see some interesting evidence on the assessment of the potential impact of a comprehensive deal. It points out that the countries that are in Europe but not part of the European Union are likely to lose out the most. Britain could gain tens or even hundreds of thousands of new jobs in the long term through an agreement. In contrast, countries such as Iceland are set to lose at least 1,000 jobs, while Norway is set to lose about 11,000 jobs. In other words, the countries in Europe that are not party to the agreement are likely to lose out in future. The evidence is rather different from that which the hon. Gentleman cites.

[Mike Gapes (Ilford South) (Lab/Co-op)]

Will my right hon. Friend give way?

[John Healey]

I will, and then I will make some progress, because I am conscious that the Deputy Speaker might want me not to delay the House for too long.

[Mike Gapes]

I must declare that I went to Korea last month, and my entry will be in the Register of Members’ Financial Interests. Is my right hon. Friend aware that as a result of the EU-Korea free trade agreement there has been a significant increase in British trade with and exports to South Korea in the past year? We will therefore clearly benefit from being part of the European Union negotiation with the United States.