EU Law

Lord Sharpe of Epsom Excerpts

Tuesday 28th January 2025 Lords Chamber

[Baroness Gustafsson (Lab)]

We will continue to co-operate with European partners on regulatory matters wherever possible and we have held constructive discussions with the EU areas of mutual benefit. But one of the Government’s priorities is supporting our own growth and our own ambitious goals and making sure we have the regulatory and legislative framework to support us. It is an opportunity that is within our direct control.

[Lord Sharpe of Epsom (Con)]

My Lords, following on from the question from my noble friend Lord Forsyth, at the Davos 2025 conference the head of Meta’s global business remarked that the overregulation within the EU is stifling business, making the region significantly less competitive on the global stage. Therefore, does the Minister agree that the UK should prioritise aligning our regulatory framework to the most competitive global standards and avoid aligning with the EU, particularly as part of any reset, if we are truly serious about economic growth?

[Baroness Gustafsson (Lab)]

The Government’s priorities are around driving economic growth within the UK, and I firmly believe that regulation has an important role to make sure that that growth is not short-term but long-term and sustainable. We have many trading opportunities within Europe, which is one of our largest trading partners, and there is an opportunity to make sure that we work to remove any barriers that get in the way of supporting that trade while making sure that we still support our own ambitions within the UK to drive that sustainable economic growth.