Oral Answers to Questions Debate
Full Debate: Read Full DebateLord Bellingham
Main Page: Lord Bellingham (Conservative - Life peer)Department Debates - View all Lord Bellingham's debates with the Department for Exiting the European Union
(6 years, 6 months ago)
Commons ChamberWe will certainly work to take advantage of new powers as they are repatriated. After we have left the common fisheries policy, its two main pillars—mutual access to waters and the EU allocation of quota—will fall away. Once we have taken back control, I look forward to the regrowth of our own fishing industry, particularly as I originally hail from Cornwall.
We have been clear that we are leaving the EU’s customs union and single market in March 2019. Only by doing so will we be able to set out own tariffs on goods, deliver our own trade policy with the rest of the world and open markets for UK businesses. All of these are golden opportunities for our nation that will enable more growth, prosperity and jobs—I am sure my hon. Friend will be looking forward to this opportunity.
I am delighted I have got the services of the dynamic new young Minister. I am very grateful to her for reinforcing the point that if we stay in the customs union, that will mean that Brussels retains control of our trade policy. Will she tell the House and explain to me why, given that we have the sixth largest economy in the world and English is the language of international trade, some people are so nervous about the UK having its own trade policy?
My hon. Friend makes an excellent point. We have so many strengths in our country, which make us well placed for our future outside the EU and its customs union. Some 90% of future global growth will come from outside the EU. We had record high foreign direct investment last year and exports up by 10%, with unemployment down, inflation down and growth up—all of this is despite Brexit.