Exiting the EU: New Partnership

Liz McInnes Excerpts

Thursday 2nd February 2017 Commons Chamber

[Mr Davis]

My hon. Friend’s question sort of answers itself, but I hope that it will be once the EU has received the article 50 letter from us—so in April or May. It will receive that letter in March and will respond in April or May.

[Liz McInnes (Heywood and Middleton) (Lab)]

I know that today is groundhog day, but why are we exiting the customs union in order to recreate the customs union?

[Mr Davis]

It is to create a customs agreement; it is in order to enable us to develop free trade agreements with that huge portion of the world where there is very fast growth and we have a strong market presence. Some 40% of our trade, or as much as we have with the EU, is with areas where we do not have free trade agreements. So this is a very large area and it is growing, sometimes twice as fast as the EU is. We are taking this approach for the future opportunities. People often talk about the implications of the referendum for young people, but the biggest implication is the prospect of jobs in the future, many of which will come from global markets, not just European ones.