Brexit: Transition Period

Lord Wallace of Saltaire Excerpts

Monday 16th April 2018 Lords Chamber

[Lord Callanan]

I thank my noble friend for her question, but of course we want to be part of a customs arrangement with the EU. That is one of the matters that we will need to discuss with it. I can agree with her that the department keeps all the necessary arrangements under constant review, and we will do so throughout the implementation period to make sure that everything is in place for the end of that period on 31 December 2020.

[Lord Wallace of Saltaire (LD)]

My Lords, every time I have heard or read a briefing from business over the past 18 months, it has talked about the need for certainty so that business can invest for the long term. By the long term, business means five years, not two. It seems to many of us that the Government are in danger of allowing a transition period to be used to put off telling business what the future arrangements will be for another 20 months. Can the Government assure us that by this October they will be able to give business detailed assurances about the sorts of future arrangements we are likely to have for trade and investment with the EU at the end of the transition period?

[Lord Callanan]

We have said that we want to get the withdrawal agreement bottomed out and agreed by October and that we also want to agree future partnerships in as much detail as possible to provide that certainty. I accept the noble Lord’s point that this is a time of uncertainty. We are working at pace to try to provide that certainty.