John Redwood
Main Page: John Redwood (Conservative - Wokingham)Department Debates - View all John Redwood's debates with the HM Treasury
(6 years, 6 months ago)
Commons ChamberI do agree with that and it is, interestingly, the view of both the CBI and the TUC that a customs union is particularly important for the future of our economy and the future of trade. Hon. Members can see why it would matter at the border. James Hookham, the deputy chief executive of Britain’s Freight Transport Association, has warned that an average delay of two minutes as a result of new Brexit spot checks at Dover would create a tailback of 17 miles. In a world of just-in-time production and retailing, when companies hold less stock, when supply chains run across borders and back again, it makes even small delays costly.
Can the right hon. Lady explain how it is that we have such a smooth-running, fast-growing and very large trade with the rest of the world, on World Trade Organisation terms, where we have to pay EU tariffs, and we are not allowed to negotiate them down all the time we are a member of the customs union?
I think the right hon. Gentleman is simply making the point that our trade was growing, within the current arrangements, with the rest of the world. That seems to be a good thing, and suggests that perhaps, therefore, we can carry on increasing our international trade and our global trade, even within customs union arrangements.