Brexit: Economic Impact on North-East England

Lord Beith Excerpts

Tuesday 10th January 2017 Lords Chamber

Asked by

[Lord Beith]

To ask Her Majesty’s Government what assessment they have made of the potential impact on the economy of north-east England of the outcomes they are seeking from the negotiations on the United Kingdom’s exit from the European Union.

[The Commercial Secretary to the Treasury (Baroness Neville-Rolfe) (Con)]

The Government are carrying out a range of analyses which will help to inform our negotiating strategy and have provided a guarantee for all European structural and investment fund projects signed before the Autumn Statement. We have also guaranteed all European structural projects signed after the Autumn Statement and before the UK’s departure from the European Union, provided that they pass the value for money test and are in line with domestic strategic priorities.

[Lord Beith (LD)]

My Lords, I thank the Minister for the detailed information in her reply. The north-east of England has consistently had the most positive trade balance of any region of the United Kingdom, but 58% of its exports are to European Union countries. If the Prime Minister is no longer even trying to secure the fullest possible participation in the single market, what does the Minister think will be the effect of post-Brexit tariff and other barriers on exporting industries, which they will face long before any new deals with non-EU countries can be reached? Who is speaking up on our behalf in the Government?

[Baroness Neville-Rolfe]

My Lords, we want the deal we strike to give British companies the maximum freedom to trade, as the noble Lord has highlighted, and to operate across the single market. We are going to make the most of the opportunities that our departure presents, getting out into the world and doing business right across the globe, while at home, including in the north-east, building a Britain that works for everyone.