Exports: Support for Businesses

Lord Oates Excerpts

Thursday 31st March 2022 Lords Chamber

[Lord Callanan (Con)]

We can trade statistics and I can give the noble Lord alternative statistics, but we are optimistic for our export service. We are providing good support to businesses. Businesses across the UK are continuing to export to EU member states and to non-EU member states. We continue to be optimistic for the service. We will provide support to businesses and I am confident that British business will bounce back.

[Lord Oates (LD)]

My Lords, has the Minister had a chance to read paragraph 1.16 of the OBR’s Economic and Fiscal Outlook? It states:

“With little evidence to suggest that we revise our assumption about the negative effect of Brexit on UK trade flows, we continue to forecast little growth in export and import volumes and a fall in the trade intensity of the economy over the medium term.”


Does he recognise how devastating a statement that is for a trading economy such as ours? Can he tell the House what the Government intend to do to address these highly damaging impacts of Brexit?

[Lord Callanan (Con)]

I have not had a chance to read the paragraph that the noble Lord refers to, but I know that there are a number of contrary statistics out at the moment and it is quite hard to disentangle the various impacts. Of course, the pandemic had a serious effect on all countries’ export performances, and many supply chains are still suffering. I will certainly take the opportunity to read the paragraph the noble Lord refers to.