Brexit: Customs Procedures Debate
Full Debate: Read Full DebateDepartment: Department for International Development
Lord Hamilton of Epsom
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Brexit: Customs Procedures
Lord Hamilton of Epsom Excerpts(6 years, 11 months ago)
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Lord Bates
That is a really good idea. There are some opportunities coming here. The noble Viscount will be aware that HMRC is moving to a making tax digital platform for VAT declarations. That type of joining up of the customs data with VAT will be something that could augment further trade with the rest of the world.
Lord Hamilton of Epsom (Con)
Will my noble friend confirm that the United States is a major export customer for this country with which we have no free-trade deal? There seems to be no hold-up in sending goods to America.
Lord Bates
Some 18% of our goods go to the United States. It is a very important market for us. Also, we are seeing significant investment from the United States into the UK. In the technology sector, Apple is coming here. Bloomberg is expanding its operations here, as is Facebook. There is a great opportunity for Britain to have a lead in technology and trade.