Brexit: Customs Procedures

Lord Hamilton of Epsom Excerpts
Monday 15th January 2018

(6 years, 10 months ago)

Lords Chamber
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Lord Bates Portrait Lord Bates
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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 Portrait Lord Hamilton of Epsom (Con)
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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 Portrait Lord Bates
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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.