Trade Balance

Lord Howell of Guildford Excerpts

Thursday 11th December 2014 Lords Chamber

[Lord Howell of Guildford (Con)]

My Lords, my noble friend has reminded us that this country is a huge exporter of services—I think he said that we are the second biggest in the world. That will increase more and more as information and data will play the key role rather than actual physical products. Free trade in services is what we have not got—particularly in Europe but throughout the world. Will my noble friend reassure us that huge efforts will be made to free up the service trade so that our exports can prosper even more in the future?

[Lord Livingston of Parkhead]

I certainly confirm that that is a key priority: both extending the single market to services, which we are pushing for in the EU, and the trade and services agreement, which is a plurilateral agreement between many countries. The UK is championing that. As such a large producer of services, we certainly support both those measures to increase trade.