Brexit: Trade Arrangements

Lord Forsyth of Drumlean Excerpts

Thursday 12th January 2017 Lords Chamber

[Lord Bridges of Headley]

The noble Lord makes an interesting hypothetical point; however, the Government are aiming to have a successful outcome to the negotiations. It is a matter of government policy that, once given, our notification will not be withdrawn.

[Lord Forsyth of Drumlean (Con)]

Will my noble friend confirm that we remain full members of the World Trade Organization in our own right, and will he tell us what we get for our £5 million annual subscription?

[Lord Bridges of Headley]

My noble friend is absolutely right. We will continue to remain a member of the WTO and place our schedules with the WTO in due course. In terms of our contribution to the WTO, our membership is very valuable in a range of ways. We will seek to build on that relationship in the years to come in order, as my right honourable friend the Prime Minister has said, to become a global beacon for world trade.