(3 years, 11 months ago)
Commons ChamberMy right hon. Friend is absolutely right, and not only are they effective mechanisms, but they keep us in line with the best international practice that exists, which of course enables us to move forward with greater predictability. On that point, there are a number of specific elements to welcome. The first is the acceptance of the concept—
I will not, I am afraid.
The first element is the concept of non-regression as a means of ensuring minimum standards. We accept that the maintenance of those high standards has fixed costs in international commerce, which is why we will always need to compete at the high end of the quality market globally in goods and services. As the Prime Minister rightly pointed out, we cannot ever become a bargain basement economy because the fixed costs we have are simply too high and, quite rightly, the British people would not allow us to abandon the standards we have. It means that we will have to move forward with the natural innovation and creativity of the British people expanding our export culture, because the bottom line is that without more exports and without more actual trade, any trade agreement is simply a piece of paper. It is upon the natural innovation of the British people that our prosperity will be built in the future.
The second element, to which my right hon. Friend the Member for Haltemprice and Howden (Mr Davis) alluded, is the fact that the concept in dispute resolution of international arbitration is done without the European Court of Justice, which brings us in line with international trends and practices. That takes us to the third element: the mechanism of determining divergence. If there is no ability to determine to diverge, we are not sovereign. If there were not a price to be paid for divergence, the EU would never have reached the agreement with us. What would have been unacceptable is the concept of dynamic alignment—automatically taking EU rules over which we had no control into our law—but what is acceptable is penalties for divergence, which are clearly set out. They are proportionate, and there is a requirement to show harm, rather than their simply being put into law. The most important element of all in this is that it is we who will weigh up the costs and benefits of any potential disalignment. It is our choice—that is one of the key elements that we have in the future.
Today opens up a new chapter in our politics. It is the choice of maintaining and strengthening an independent United Kingdom; or of the new ranks of the rejoiners, who would have us thrust back into European accession politics all over again, consuming all our political time and energy, which is a future that I believe the British public will reject. There are things that we still have to sort out—the future of Gibraltar is one of the important ones, as is seeing further details on services, including financial services—but this is a historic day in our democracy. We have delivered on the referendum and our election promises. If, for the Opposition, those are not reasons to be cheerful, they are at least reasons of which we should all be proud.
(6 years, 2 months ago)
Commons ChamberAs I have already pointed out, it is advantageous for us to have an open, liberal comprehensive trading deal with the European Union, but it is also important that we open up trading opportunities elsewhere, which was why I found it utterly depressing that the Labour party voted yesterday against the EU’s free trade agreement with Singapore, which is a chance generally to open up trade. That is another example of how the Labour party has been captured by the anti-trade hard left to the detriment of the United Kingdom’s interests.
(6 years, 5 months ago)
Commons ChamberThe Under-Secretary of State for Business, Energy and Industrial Strategy, my hon. Friend the Member for Watford (Richard Harrington), will have heard what the hon. Gentleman said. Again, I make the point that we have set out a reasonable and proportionate response. There is no point escalating rhetoric; there is no point escalating the terms of this dispute. We should use the time available before the imposition of countermeasures to go back to the United States and say, “You still have time to think again, to stop history repeating itself or to stop economic effects that can only be detrimental in the United States and beyond.”
Following the tariffs on steel and aluminium, it is reported that the US Secretary of Commerce is now looking at the car industry, again on national security grounds. What analysis has the Department undertaken of what other sectors may fall victim to President Trump’s protectionist strategy?
(6 years, 8 months ago)
Commons ChamberAs I have said, through the work that we are doing multilaterally, there are currently 28 outstanding recommendations that we expect China to apply. The Prime Minister raised this matter on her recent visit to China, and we are continuing the conversation. We understand China’s need for the production of aluminium and steel for export and for its domestic use, but if we are going to have a rules-based system, the rules need to be obeyed. They also need to be transparent, and we need to have sufficient information to determine whether the WTO rules are still effective.
If faced with a trade war, what post-Brexit trade defence mechanisms would little Britain employ against the might of the US economy?
(7 years, 4 months ago)
Commons ChamberThe Secretary of State will be aware of reports by the BBC and the Danish newspaper Dagbladet Information in relation to the sale of surveillance and decryption technology to Saudi Arabia by British companies via their Danish subsidiaries. This technology has been used to crush internal dissent, and it arguably contravenes Criterion 5 restrictions due to the potential impact on UK security. Will the British Government review the legislation and oversight procedures governing sales of surveillance and decryption technology?
(8 years ago)
Commons ChamberThe people of Britain voted to leave the European Union and that is what we will do. It is the job of this Department to maximise the UK’s trade opportunities, whatever the relationship with the EU that the Government ultimately adopt. The Prime Minister has made it clear that the UK’s agreement with the EU will get the best deal for Britain at home and abroad.
Via our membership of the customs union the UK has access to more than 50 international trade deals, which according to a parliamentary answer I received accounts for 15% of UK exports. In the event of Brexit outside the customs union, what estimate has the Secretary of State made of the length of time it will require to renegotiate those deals, bearing in mind that he will not be able to begin his negotiations until after exit in March 2019?
There are a number of errors in what the hon. Gentleman has said. The EU currently has 36 free trade agreements covering more than 50 countries. It is entirely possible for us to be able to transition those into UK agreements and we are free to discuss them with countries while we are still a member of the European Union. Our aim will be to have minimum disruption of trade and no gap in market access for British companies.