(5 years, 5 months ago)
Commons ChamberThe Government are considering their future approach to investor state dispute settlement. Where included in a trade agreement, ISDS will not oblige the Government to open the NHS to further competition, and overseas companies will not be able to take legal action to force us to do so.
The Secretary of State did not rule out the use of legal action against other companies in this country, so what message would he give to all those idealistic people who voted to leave the EU because they thought that the Transatlantic Trade and Investment Partnership would open us up to hostile lawsuits from US companies? Does he think that now that the truth is out they ought to have a chance for another vote?
I am not sure what the connection was between some of those points. Let me be clear that, through ISDS, investment claims can be made only in respect of established investments; the mechanism cannot be used in relation to an alleged failure to open up public services to a potential investor. It could not be much clearer that what was being put about was a complete myth.
(5 years, 9 months ago)
Commons ChamberThe UK is home to a world-leading creative industries sector, which we will continue to support as part of our modern and ambitious trade policy. UK creative industries exported £40.2 billion of goods and services in 2016, and we recently completed a public consultation that will inform our future approach in trade agreements.
That is exactly what we are seeking to achieve in the agreement the Prime Minister reaches—I take it that the hon. Gentleman is referring to the European market. Not only do we want to secure continued tariff-free EU access, but we want further liberalisation so that we increase potential global trade, too.
Can the Secretary of State confirm that trade in the creative industries of the EU will benefit from reciprocity of regulation on licensing and collective rights management?
(6 years, 3 months ago)
Commons ChamberWhat optimistic free trade message is the Secretary of State going to give to Welsh hill farmers or Suffolk sugar beet growers?
I did indeed enjoy my visit to Aberdeen, where I was able to chair a roundtable of companies from across the oil and gas industries as well as meeting senior figures from the Wood Group. Representatives of UK Export Finance were present at both meetings, and, as my hon. Friend will know, we are more than happy for UKEF facilities to be made available to the sector.